Traders Reality Main

The Traders Reality Main indicator provides a comprehensive analysis suite that integrates volume spread analysis, multiple exponential moving averages, and automated market session tracking into a single tool. It is designed to assist traders in identifying institutional activity using PVSRA (Price, Volume, Spread, Recovery, Analysis) principles across Forex and Cryptocurrency markets.

Usage

The Usage section describes how the script can be used to interpret market structures and institutional footprints.

PVSRA Candle Identification

The script highlights specific candles based on volume and spread relative to the previous 10 bars to identify climax or vector candles:

• Green/Red: High-intensity institutional activity. These occur when volume is ≥ 200% of the average of the previous 10 candles, or when the product of spread and volume is at a 10-period high.
• Blue/Violet: Medium-intensity institutional activity. These occur when volume is ≥ 150% of the average of the previous 10 candles.
• Gray: Represents regular market activity where no volume/spread conditions are met.

Market Session Boxes

The tool automatically plots time-based boxes for various trading sessions (NY, JP, HK, UK, FR, and Brinks). Users can adjust the GMT offset in settings to align with their specific exchange data.

Range and Pivot Analysis

The indicator plots Daily, Weekly, and Monthly ranges (ADR/AWR/AMR). Traders can choose to calculate these ranges from the open price to maintain static levels throughout the period. Additionally, Pivot Points (S/M/R levels) are available to identify potential support and resistance zones.

Details

The Traders Reality Main indicator is built on the concept of PVSRA, which focuses on identifying where market makers are entering or exiting positions.

• PVSRA Override: This feature allows users to calculate volume-based candle colors using data from a different ticker (e.g., using INDEX:BTCUSD volume for a low-liquidity exchange pair) to ensure data reliability.
• Vector Candle Zones: These zones mark unrecovered liquidity. The script tracks vector candles and highlights areas that have not yet been revisited by price action, suggesting potential future targets.
• Psychological High/Low: This implementation calculates weekly psychological ranges based on market maker methods, helping to define the expected boundaries for weekly volatility.

Settings

PVSRA Colors

• Vector Colors (Red, Green, Violet, Blue): Defines the color for candles meeting specific volume/spread climax criteria.
• Regular Candle Colors: Sets the appearance of non-vector candles.

EMAs

• Show EMAs: Toggles the visibility of the 5, 13, 50, 200, and 800 exponential moving averages.
• EMA Cloud: Enables a visual cloud around the 50 EMA.

Pivot Points

• Pivot Levels (1, 2, 3): Toggles the standard Support (S) and Resistance (R) levels.
• Show M levels: Displays mid-point levels between standard pivots.
• Extend Pivots: Extends pivot lines across the entire chart.

Ranges (ADR/AWR/AMR)

• Use Open calc: If enabled, calculates ranges from the period open rather than the current high/low.
• ADR length: The number of days used to calculate the average daily range.
• Show 50%: Plots the median line of the calculated range.

Market Boxes

• Market Session Toggles: Enables or disables specific session boxes.
• Session Start/End: Configures the time range for each session.

FAQ

How do I set up alerts for institutional volume? You can create an alert by selecting "Traders Reality" as the condition and choosing "Alert on Vector Candle" with the "Once per Bar" setting enabled.

Can I use this for stock trading? The script was primarily designed for Forex and Crypto; while it functions on stocks, it has not been extensively tested for that specific asset class.

How do I get access to the Traders Reality Main tool? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.