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Circular Barplot - Oscillators Sentiment

By LuxAlgoNov 8, 2021

Circular Barplot - Oscillators Sentiment is an indicator on Vela, our next-generation charting platform, written in Pine Script®.

Circular Barplot - Oscillators Sentiment condenses six classic oscillators (RSI, Stochastic %K, the Linear Correlation Oscillator, Williams Percent Range, Percent Rank, and the Money Flow Index) into a single composite oscillator view drawn as concentric circle arcs. Each component is normalized onto a shared scale, so arc length carries the meaning: the longer the arc, the closer that oscillator sits to its maximum. A central label averages everything into one sentiment number.

How to Trade the Circular Barplot - Oscillators Sentiment?

  • Long arcs across the plot: components pressing their maximums: stretched, one-sided conditions worth treating as extremes.
  • Short arcs clustering together: readings near their minimums, the mirror-image extreme.
  • Central label: the average of all included oscillators, the fastest single-number sentiment read on the ticker.
  • Dashboard: a top-right table lists precise per-oscillator values when the arcs alone are not enough.

The circular format is deliberately compact: arcs conserve horizontal and vertical space, which suits normalized data and leaves the price pane uncluttered. Each oscillator has its own length setting (default 14), so you can tune how quickly each component responds.

Circular Barplot - Oscillators Sentiment Settings

  • Width: width of each circle; setting it too low strains readability.
  • Spacing: distance between circles. Overly generous values spread the plot thin.
  • Thickness: weight of the colored arc lines.
  • Offset: distance of the plot from the most recent candles.
  • Src: input source feeding the RSI, %K, correlation, Percent Rank and MFI components; Williams %R always uses the bar's high, low and close.

Frequently Asked Questions

Free to use

Run it on Vela. Go further with a paid plan.

  • Up to 500 strategy alerts, with webhook automation
  • Up to 10× the chart history of Free
  • Orderflow lookback up to full history
  • More Quant usage to customize it, plus extra usage when you need it
  • Futures data alongside crypto, stocks, forex and commodities
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Also works on

TradingView
NinjaTrader
Original indicatorBuilt in-house by LuxAlgo

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Open this indicator free on Vela, our next-generation charting platform. Then ask Quant, our coding agent built into Vela, to retune it or turn it into a backtested strategy of your own.