Institutional Insight Indicator [Enhanced]

This Pine Script indicator combines volume, price action swings, RSI, and supply/demand zones to help traders identify potential market turning points and volume-driven signals.

Note: This indicator is not publicly published on TradingView. To use it, copy the script from this repository into the TradingView Pine Editor and save it under your “My scripts”.

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How It Works

1. Volume & Volatility

   • Calculates average volume using a Simple Moving Average (SMA).
   • Uses market volatility (standard deviation) to create a dynamic multiplier, scaling the average volume threshold.

2. Trend Detection

   • Employs a second SMA (Trend SMA) on closing prices to determine the overall market trend.

3. Swing High/Low Detection

   • Identifies swing highs and lows based on whether the closing price rises above or falls below recent extremes (adjusted by a user-defined buffer).

4. Supply & Demand Zones

   • Each new swing high spawns a supply zone (red box) from that pivot high down to the pivot’s close.
   • Each new swing low spawns a demand zone (green box) from that pivot’s close down to the pivot low.
   • Old zones are replaced when a new swing occurs.

5. Fibonacci Levels

   • Calculates standard Fibonacci retracement levels (38.2%, 50%, 61.8%) based on the most recent swing high and swing low.

6. Buying & Selling Pressure

   • Buying Pressure: Triggered if price is above the Trend SMA, forms a bullish bar with volume above the dynamic threshold, and RSI signals potential oversold conditions.
   • Selling Pressure: Triggered if price is below the Trend SMA, forms a bearish bar with volume above the dynamic threshold, and RSI signals potential overbought conditions.

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Parameters

• Volume Multiplier
  Scales the calculated average volume threshold.
• Volume MA Length
  Sets the SMA period for average volume.
• Swing Buffer
  A percentage buffer used to confirm a swing high/low beyond typical noise.
• Trend SMA Length
  The SMA period of the closing price used to identify the overall market trend.
• Supply/Demand Zone Length
  Lookback period for detecting significant swing highs/lows.
• RSI Period
  The number of bars used in the RSI calculation.

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Visual Elements

• Bar Colors
  • Green (90% opacity) if buying pressure is detected.
  • Red (90% opacity) if selling pressure is detected.
• Trend SMA
  Plotted in purple with a line width of 2, clearly indicating the trend direction.
• Fibonacci Levels
  Lines marking the 38.2%, 50%, and 61.8% retracement levels based on the most recent swing points.
• Supply & Demand Boxes
  Boxes (red for supply, green for demand) that update when new swing highs or lows are detected.
• High Volume Background
  A pale blue background indicates bars that exceed the dynamic volume threshold.

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Alerts

• Buying Pressure Alert
  Notifies you when the script detects a potential buying opportunity.
• Selling Pressure Alert
  Notifies you when the script detects a potential selling opportunity.

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Usage

1. Open TradingView Pine Editor
   Navigate to TradingView, open a chart, and click “Pine Editor” at the bottom.
2. Paste the Source Code
   Copy the script from this repository into the editor.
3. Save & Add to Chart
   Click “Save,” then “Add to Chart.” Your custom indicator will now appear in “My Scripts.”

By combining volume analysis, RSI, supply/demand zones, and adaptive Fibonacci levels, the Institutional Insight Indicator [Enhanced] can help traders spot potential inflection points and overall market sentiment in real time.