Godmode 4.0.2

The Godmode 4.0.2 indicator identifies and renders key institutional supply and demand zones based on the price activity of a user-defined benchmark ticker. This tool allows traders to filter out market noise by anchoring technical levels to highly correlated assets or market leaders, providing a clearer view of significant support and resistance areas.

Usage

The Usage section focuses on how to leverage benchmark assets to generate cleaner technical levels. By default, the script calculates zones using a specific "Benchmark" symbol (such as BTC for crypto markets or SPY for equities) to determine where price exhaustion and reversals are likely to occur on the current chart.

• Benchmark Anchoring: Users should input a ticker that historically leads or highly correlates with the asset they are trading. For example, when trading altcoins, using BTC as the benchmark helps identify "Godmode" zones where the broader market is reaching extreme conditions.
• Zone Identification:
  • Support Zones (Green): Appear when the internal Godmode oscillator enters an oversold state (< 30) for a sustained period.
  • Resistance Zones (Red): Appear when the internal oscillator enters an overbought state (> 70) for a sustained period.
  • Neutral Supply/Demand (Blue): Identifies overlapping levels or general areas of interest based on the combined count of extreme readings.
• Smoothing: Enabling the smoothing toggle can help filter out premature zone formation in volatile markets, requiring a more sustained trend before a zone is plotted.

Details

The Godmode 4.0.2 implementation utilizes a composite calculation method that integrates multiple technical concepts, including the True Strength Index (TSI), Money Flow (MF), and specialized Relative Strength Index (RSI) logic.

If the current chart ticker differs from the selected benchmark, the script requests data from the benchmark to calculate a complex "Godmode" value. If the assets match, it uses a simplified "Tradition" calculation. The script tracks how many consecutive bars the resulting oscillator stays above or below specific thresholds. Once the "Count" threshold is met, the script captures the price highs and lows of that period and projects them as horizontal zones. This version credits the rendering methods of shtcoinr and incorporates logic inspired by contributors such as LazyBear, alexgrover, and DonovanWall.

Settings

General Settings

• Benchmark: The ticker ID used to calculate the supply and demand zones (e.g., "CRYPTOCAP:BTC").
• Source: The price input used for calculations (e.g., hlc3, close).
• Channel Length: Sets the lookback window for the internal TCI and smoothing components.
• Average Length: Determines the period for the exponential moving averages used in the TSI calculation.
• Short length: Adjusts the period for RSI and Money Flow components.
• Count: The number of consecutive bars the indicator must stay in an extreme zone before a new level is drawn.
• Smoothing: A toggle to apply a Simple Moving Average to the oscillator output to reduce volatility.

FAQ

How do I choose the right benchmark ticker? To maximize the indicator's value, use a correlation coefficient tool to find an asset that leads the one you are currently trading. For stocks, this is often an index like SPY or QQQ; for crypto, it is typically BTC.

What does the "Count" setting do? The Count determines the sensitivity of zone creation. A higher count requires the benchmark asset to stay overbought or oversold for a longer duration, resulting in more significant but fewer supply/demand zones.

How can I access the Godmode 4.0.2 indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.