Oracle Fear and Greed

Custom Fear and Greed Oscillator with Movement Table

This indicator provides a unique perspective on market sentiment by calculating a custom fear/greed oscillator based on Heikin-Ashi candles. The oscillator is centered at 50, with values above 50 suggesting bullish sentiment ("greed") and below 50 indicating bearish sentiment ("fear"). The calculation incorporates candle body size, range, and a custom "candle strength" measure, providing an innovative approach to understanding market behavior.

Key Features:

Heikin-Ashi Based Oscillator:
Utilizes Heikin-Ashi candles to compute a custom oscillator. The value is centered at 50, with deviations indicating the prevailing market sentiment.

Dynamic Gradient Coloring:
The oscillator line is dynamically colored with a smooth gradient—from blue (representing fear) at lower values to pink (representing greed) at higher values—making it visually intuitive.

Horizontal Levels:
Two additional horizontal lines are drawn at 40.62 ("Bottom") and 60.74 ("Top"), which may serve as potential oversold and overbought boundaries respectively.

Fast Movement Metrics:
Every 5 bars, the indicator calculates the percentage change in the Heikin-Ashi close. This fast movement analysis distinguishes rapid downward moves (fast fear) from rapid upward moves (fast greed), helping to capture sudden market shifts.

Information Table:
A table in the top-right corner displays the most recent fast movement values for both fear and greed, offering quick insights into short-term market dynamics.

Usage Tips:

Adjust the smoothing period to match your preferred trading timeframe.
Use the oscillator alongside other analysis tools for more robust trading decisions.
Ideal for those looking to experiment with new approaches to sentiment analysis and momentum detection.
Disclaimer:
This indicator is intended for educational and experimental purposes. It should not be used as the sole basis for any trading decisions. Always combine with comprehensive market analysis and risk management strategies.

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