KoncordePlus
The KoncordePlus indicator is a sophisticated tool for analyzing volume-driven market dynamics through a combination of technical metrics and distinct visual patterns. Below is a detailed examination of its patterns, signals, and the highest-probability setups, grounded in the indicator’s design and functionality as observed through its implementation.
Patterns and Signals
KoncordePlus integrates several volume and momentum-based indicators—Positive Volume Index (PVI), Negative Volume Index (NVI), Relative Strength Index (RSI), Money Flow Index (MFI), Bollinger Bands (BB), and Stochastic Oscillator—to generate actionable patterns and signals. These are visualized through a combination of trend lines, area fills, and markers, each representing specific market conditions:
Main Plots:
-Trend Line (Brown): Represents a composite trend derived from RSI, MFI, BB, and a smoothed Stochastic Oscillator (K). It serves as a central reference for overall market direction, dynamically changing color (brown to dark brown) based on its slope to indicate momentum shifts.
-TrendMA (Red): A moving average of the Trend line, configurable as SMA, EMA, or WMA, providing a smoothed trend reference for identifying crossovers.
-MinnowsFill (Green Area): Reflects the PVI’s oscillation relative to its windowed extremes, capturing retail or “minnow” activity. It plots above the Trend line, indicating bullish retail sentiment when prominent.
-SharksFill (Blue Area): Reflects the NVI’s oscillation, representing institutional or “shark” activity. It plots below the zero line, indicating bearish institutional sentiment when dominant.
-TrendFill (Brown Histogram): A histogram version of the Trend line, providing a visual representation of trend strength.
Major Signals:
-Mirror (Cyan Star): Triggered when SharksFill (NVI) is positive and MinnowsFill (PVI) is negative, signaling a potential reversal where institutional buying (positive NVI) contrasts with retail selling (negative PVI). This pattern often indicates a bullish setup as institutions accumulate while retail capitulates.
-Bear Hug (Red Star): Triggered when MinnowsFill is positive, SharksFill is negative, and MinnowsFill exceeds the Trend line. This suggests retail buying (positive PVI) against institutional selling (negative NVI), often marking a bearish reversal as retail euphoria meets institutional distribution.
Minor Signals:
-Trend Up (DeepSky Blue Dot): Occurs when the Trend line crosses above TrendMA, indicating a potential bullish trend initiation.
-Trend Down (Red Dot): Occurs when the Trend line crosses below TrendMA, signaling a potential bearish trend initiation. These crossovers highlight shorter-term momentum shifts within the broader trend.
New Patterns (Squares): (
STILL IN EXPERIMENTAL PHASE)
-ZeroUp (Gold Square): Triggered when the Trend line crosses above the zero line (trendBuf[j] > 0 && trendBuf[j - 1] <= 0). This indicates the start of a bullish trend, often a precursor to sustained upward movement.
-PrimaveraUp (Green Square): Triggered when a Trend Up signal occurs (trendBuf[j] > trendMA[j] && trendBuf[j - 1] <= trendMA[j - 1]) and MinnowsFill exceeds the Trend line (minTop[j] > trendBuf[j]). This pattern suggests strong retail participation in a bullish trend, increasing the likelihood of continuation.
-HarpoonUp (Cyan Square): Triggered when SharksFill crosses above TrendMA (shaTop[j] > trendMA[j] && shaTop[j - 1] <= trendMA[j - 1]), with MinnowsFill below zero (minTop[j] < 0) and SharksFill positive (shaTop[j] > 0). This indicates institutional buying (positive NVI) amidst retail selling, often marking a high-probability bullish reversal.
-HarpoonDn (Orange-Red Square): Triggered when SharksFill crosses below zero (shaTop[j] < 0 && shaTop[j - 1] >= 0), with MinnowsFill above both the Trend line and TrendMA (minTop[j] > trendBuf[j] && minTop[j] > trendMA[j]). This suggests institutional selling (negative NVI) against retail buying, often marking a high-probability bearish reversal.
Use on Higher Timeframes: The indicator’s signals are more significant on higher timeframes (e.g., H1, H4, Daily), where volume and momentum patterns reflect more substantial market movements.
Based on the work of blai5.net/category/indicadores/koncorde
