TS Pressure Oscillator V2

This indicator is a TS Pressure Oscillator. Its job is to turn a lot of small “TS events” (liquidity sweeps + rejection) into a single, easy-to-read curve that helps you spot short-term exhaustion and possible trend shifts.

What it detects (TS events)

A “TS” here means a candle that:

briefly breaks the previous candle’s high and then closes back below it (bearish rejection), or

briefly breaks the previous candle’s low and then closes back above it (bullish rejection).

In simple words: price tried to continue, failed, and got rejected.

What the oscillator measures

Instead of counting every TS equally, this version gives each event a score based on its quality:

Wick size vs ATR (how meaningful the sweep was)

Body size vs ATR (how strong the rejection candle was)

Then it filters events by context:

bearish TS only matter most near the top of a recent range

bullish TS only matter most near the bottom of a recent range

After that, it combines multiple timeframes (M15 / M5 / M1) into one curve:

If bearish TS pressure dominates, the oscillator tends to move up (more rejection from above).

If bullish TS pressure dominates, the oscillator tends to move down (more rejection from below).

Why there are two lines (Main vs EMA)

Main line shows the current pressure.

EMA line is the smoothed version (the “trend” of the pressure).
The gap between them is useful: when the Main line pulls away from the EMA, it often means pressure is accelerating.

The most important part: parameters

This indicator is only as good as its tuning. The key settings control what it considers “relevant” TS events:

Zone lookback (HH/LL): defines what “top” and “bottom” mean

Zone thresholds (zoneHi / zoneLo): how strict the “extreme area” filter is

Window lengths per timeframe: how much history you’re measuring

ATR length + caps: how sensitive the scoring is

Baseline: prevents the oscillator from sticking at extremes

If your parameters are too loose, you’ll get noise.
If they’re too strict, you’ll miss opportunities.
Dialing them in for each asset/session is the difference between a “nice curve” and a useful signal.

If you want, tell me the asset (e.g., XAUUSD) and your main chart timeframe, and I’ll suggest a solid starting preset for the parameters.