Circular Barplot - Oscillators Sentiment
Nov 8, 2021
.png&w=1200&q=75)
This innovative trading indicator showcases a circular barplot that aggregates market sentiment by integrating multiple normalized oscillators. It uniquely combines various well-regarded oscillators such as the Relative Strength Index (RSI), Stochastic %K (%K), Linear Correlation Oscillator (ROSC), William Percent Range (WPR), Percent Rank (%R), and Money Flow Index (MFI). Adjust these oscillators to suit your trading strategy by modifying the length period within the indicator settings.
Key Features and Customization Options
The circular barplot provides a user-friendly visualization with several customizable parameters:
- Width: Adjust the circle width to fit your display preferences.
- Spacing: Modify the proximity of each circle to maintain readability.
- Thickness: Set the width of the colored lines for clearer visual impact.
- Offset: Alter the position of the circular barplot from the most recent candles to suit your analysis.
- Src: Select the input source for the indicators for greater accuracy.
The label centrally positioned within the circular plot aggregates all included oscillators, presenting an average market sentiment that is easy to comprehend.
How to Trade the Circular Barplot Trading Indicator?
Unlike traditional bar charts, circular bar plots present data as circle arcs, offering a compact and space-efficient representation. This form is particularly beneficial for normalized data as it conserves horizontal and vertical space. A longer arc indicates a value nearing the maximum of the oscillator, aiding traders in quickly assessing market conditions. This specific variation of circular barplots hones in on using circle arcs to effectively represent the data.
This indicator can function as a straightforward widget, offering a swift glance at the overall market sentiment of a particular ticker. Additionally, a dashboard is featured in the upper left corner of the chart, allowing traders to view precise oscillator values.
Be mindful that setting the width too low or the spacing too high might produce less than optimal visual feedback, impacting clarity.
FAQ
How can I access the Circular Barplot Trading Indicator?
You can access the Circular Barplot Trading Indicator on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
What types of traders can benefit from this indicator?
This indicator is designed for a wide range of traders, from beginners to seasoned professionals, due to its simple yet powerful visualization of market sentiment.
What is the primary advantage of using a circular barplot for market sentiment analysis?
The primary advantage of using a circular barplot is its ability to present complex, multidimensional data in a clear and space-efficient manner, which can help traders make informed decisions quickly.
Trading is risky and many will lose money in connection with trading activities. All content on this site is not intended to, and should not be, construed as financial advice. Decisions to buy, sell, hold or trade in securities, commodities and other markets involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results.
Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, including, but not limited to, lack of liquidity. Simulated trading programs in general are designed with the benefit of hindsight, and are based on historical information. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
As a provider of technical analysis tools for charting platforms, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole based on any content or tool we provide.
Charts used on this site are by TradingView in which the majority of our tools are built on. TradingView® is a registered trademark of TradingView, Inc. www.TradingView.com. TradingView® has no affiliation with the owner, developer, or provider of the Services described herein.
This does not represent our full Disclaimer. Please read our full disclaimer.
© 2025 LuxAlgo Global, LLC.