Rotation Factor is a simple formula to figure out the buy and sell pressure of the overall day. Rotation Factor is usually combined with Market Profile or Volume Profile analysis. It is designed to be used on the 30min timeframe with a 1D interval reset. It can be used on other timeframes, but results will vary. Some Rotation Factor traders like to use it on a daily with a 1M interval reset for longer term trading.
The formula is very clean because it only focuses on price action, highs and lows. The formula is as follows:
Current Bar makes Higher High and Higher Low +2 points Current Bar makes Lower High and Lower Low -2 Points Current Bar makes Higher High and Lower Low 0 Points Current Bar makes Lower High and Higher Low 0 Points Current High and Previous High are Equal and Higher Low +1 Points Current Bar makes Higher High but Current and Previous lows are equal +1 Points Current Bar makes Lower High but Current and Previous lows are equal -1 Points Current High and Previous High are Equal and Lower Low -1 Points
I hope you enjoy this indicator, if you have any questions let me know in the comments.
릴리즈 노트
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Original code was bugged when converted to pine v.4. Massive Thank You to joebaus on Tradingview for his help converting it to pine Version 5. The indicator should work as intended now.
This indicator is simply fantastic according to my tests of the TOMOUSDT crypto pairs from the broker binance on the 5-minute timeframe. Is there any way to activate alerts? How could I schedule alerts for the exact moment of rotation?
dciv
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This is an awesome indicator, using it as a higher time frame setting on my chart.
RZ03
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@dciv, can you help me with how to use it for profitable trades
TVPRO
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well done Joe and Deja. I am glad I could help hooking you guys up to get this released for v5.
iharmansingh1029
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Is this repaint
magikmoney33
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wicked man thank you greatly
DaveBrascoFX
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works very good on daily tf too. Very good signals
TraderX-
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hi, what a great indicator! would love to have alerts on changes in trend...possible? thanks