Update 2024-01-19

Added the ability to change the color of the candles based on volume thresholds.

• Red candles: Ultra High volume
• Yellow candles: High volume
• Gree candles: Average Volume
• Blue candles: Low volume

Ultimate GodMode Oscillator

This repository contains the code for the Ultimate GodMode Oscillator indicator, also known as UG LSMA RSI. This indicator calculates various technical analysis values and plots them on the chart.

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Godmode Indicator Usage

• It is recommended to use the Godmode indicator in conjunction with Bollinger Bands. Set the Bollinger Bands' standard deviation (stdDev) parameter to enhance the analysis. The Godmode indicator is a powerful tool for analyzing price action and identifying potential bullish and bearish signals. It utilizes various indicator lines to provide insights into market trends. Here's how to interpret and use the Godmode indicator:

Bullish Signals

• Red RSI: If the Red RSI goes above the 50 level, it suggests a potential upward trend in the market. This may lead to an expansion of the Aqua/Orange UPPER B-Bands.

• Blue LSMA: A Blue LSMA plot above the 50 level indicates a bullish sentiment. It signifies that the underlying Simple Moving Average (SMA) (20MA) is moving upward, which can result in the expansion of the B-Bands.

• Green Line: If the Green Line runs up to the 50 level, it indicates an increase in buying pressure and a potential upward move towards the B-Band Basis (20MA).

• White Energy: The White Energy, represented by the Gray "cloud," provides an indication of the strength of price moves. A downward movement of the White Energy, while the Red and Blue lines are above the 50 level, suggests a potential slowdown in the upward move.

Bearish Signals

• Red RSI: If the Red RSI goes below the 50 level, it suggests a potential downward trend in the market. This may lead to a decline towards the Aqua/Orange LOWER B-Bands.

• Blue LSMA: A Blue LSMA plot below the 50 level indicates a bearish sentiment. It suggests that the underlying SMA is moving downward, which can result in the expansion of the B-Bands.

• Green Line: If the Green Line falls down to the 50 level, it indicates a decrease in buying pressure and a potential downward move towards the B-Band Basis (20MA).

• White Energy: The White Energy, represented by the Gray "cloud," provides an indication of the strength of price moves. A downward movement of the White Energy, while the Red and Blue lines are below the 50 level, suggests a potential slowdown in the downward move.

Additional Information

The Godmode indicator combines multiple technical analysis values, including the RSI, LSMA, and Bollinger Bands (B-Bands), to provide valuable insights into the strength and momentum of price moves.

• If the Green line reaches above the 70 level, while the Blue and Red lines are below the 30 level, it suggests an overextended move that may result in a downward correction.
• If the Blue LSMA remains below the basis (20MA), it is more likely that the body of candles will also remain below the basis (20MA), and vice versa.
• Downward pressures or upward pressures will persist as long as the White Energy and Green plot remain below or above the level 50.
• When the Red line approaches the Blue line from above, it can indicate a bearish signal or a downward move, and this continues until the White Energy stops decreasing, and vice versa.
• Cautionary signals for potential reversals or corrections are indicated by circles with different colors, representing overbought and oversold zones.

Remember, the Godmode indicator is a valuable tool, but it's essential to consider other factors and conduct thorough analysis when making trading decisions.

Oscillator Settings

• LSMA Length: The length used for the calculation of the Least Squares Moving Average (LSMA). The LSMA is a type of moving average that minimizes the sum of squared deviations from the linear regression line.
• TCI Channel Length: The length used for the calculation of the True Centered Indicator (TCI) channel. TCI is a technical indicator that measures the center of price movement by smoothing price fluctuations.
• Willy Average Length: The length used for the calculation of the Willy Average. The Willy Average is a momentum indicator that measures the distance between the current price and the highest price within a specified period.
• MF Length: The length used for the calculation of the Money Flow (MF). Money Flow is a volume-based indicator that measures the strength and direction of money flowing in and out of a security.
• Godmode SMA Length: The length used for the calculation of the Godmode Simple Moving Average (SMA). The Godmode SMA is an average of various technical analysis values, including TCI, CSI, MF, and Willy.

Formula & Calculations

The indicator performs the following calculations:

TCI:

The True Centered Indicator (TCI) measures the center of price movement by calculating the difference between the current price and the exponential moving average (EMA) of the price over a specified TCI Channel Length. It also considers the absolute difference between the price and its EMA to smooth out price fluctuations.

MF:

The Money Flow (MF) indicator calculates the relative strength of buying and selling pressure by summing the volume multiplied by the price change for positive and negative price movements over a specified MF Length.

Willy:

The Willy indicator measures the momentum of the price by calculating the distance between the current price and the highest price within a specified Willy Average Length. It is normalized to a range between 0 and 100.

CSI:

The Composite Strength Index (CSI) combines the Relative Strength Index (RSI) and the True Strength Index (TSI) to provide a composite strength measurement. It calculates the average of the RSI and the TSI, multiplied by 100, using the specified MF Length, TCI Channel Length, and Willy Average Length.

Godmode:

The Godmode value is calculated by averaging the TCI, CSI, MF, and Willy values. It represents an overall measure of strength and momentum in the market.

Tradition:

The Tradition value is calculated by averaging the TCI, MF, and RSI values. It provides a more traditional approach to measuring market strength.

Plotting

The indicator plots the following lines and plots on the chart:

• LSMA: The Least Squares Moving Average line represents the smoothed average of the price using the specified LSMA Length (color: blue).
• Red SMA: The Godmode Simple Moving Average line represents the average of the Godmode values using the specified Godmode SMA Length (color: red).
• Fast line: The Fast line represents either the Godmode or Tradition value, depending on the chosen settings (color: green).
• Volume Energy: The Volume Energy plot represents the energy derived from the volume by calculating the exponential

moving average of the difference between the Godmode value and the Red SMA value, multiplied by 2, and adding 50 (color: gray).

• Caution: Circle plot indicating the caution zone when the Red SMA value is below 25 (color: aqua).
• Alert: Circle plot indicating the alert zone when the Red SMA value is below 20 (color: yellow).
• Warning: Circle plot indicating the warning zone when the Red SMA value is below 15 (color: red).

Additionally, Fibonacci levels are plotted as horizontal lines on the chart.

Background Fill

The background of the chart is filled with a gradient color to enhance the visual presentation of the indicator.

Disclaimer

This indicator is provided for informational and educational purposes only. It should not be considered as financial or investment advice. Trading in financial markets involves substantial risk, and you should carefully consider your financial situation and consult a professional before making any trading decisions.