FOMO Exhaustion Indicator

[Soon2b]

I have heard other traders, myself included, say, as soon as I went long the market started dropping or as soon as I went short the market took off to the upside. Most everyone knows the major players trade big sized orders, either long or short. And it is no secret that volume moves price, either up or down. As large trades take place, price starts moving, you’re watching your charts, your indicators are moving, you’re not quite sure should I pull the trigger on the trade? Then, I, the retail trader begins to get FOMO, I jump in and BOOM, the market reverses. Or, you’re in a trade with your stop in place. Price starts moving against you. Price moves to your stop, takes it out, then bounces. You tell yourself, If only I had moved my stop a little wider. What I am thinking is when the volume begins to decline and the trade size prints are smaller it means the big institutions are fading away and the retail traders and FOMO traders are jumping in long at the top of a trend or shorts jumping in at the bottom after the institutions have ceased selling. If these areas can be identified they could potentially signal a trend change. So,

my request is to identify levels where volume is declining with smaller volume print sizes as price is either advancing or declining. Maybe the reflection point could be identified with a FOMO bubble. I’m don’t know if TOS provides print sizes, advancing & declining volume data, or any other type of data required for this indicator. I have search for volume indicators on this website but not found anything that addresses what I am looking for. If it does exist, please point me to it. Thank you for considering.

 

[TraderZen]

I have heard other traders, myself included, say, as soon as I went long the market started dropping or as soon as I went short the market took off to the upside. Most everyone knows the major players trade big sized orders, either long or short. And it is no secret that volume moves price, either up or down. As large trades take place, price starts moving, you’re watching your charts, your indicators are moving, you’re not quite sure should I pull the trigger on the trade? Then, I, the retail trader begins to get FOMO, I jump in and BOOM, the market reverses. Or, you’re in a trade with your stop in place. Price starts moving against you. Price moves to your stop, takes it out, then bounces. You tell yourself, If only I had moved my stop a little wider. What I am thinking is when the volume begins to decline and the trade size prints are smaller it means the big institutions are fading away and the retail traders and FOMO traders are jumping in long at the top of a trend or shorts jumping in at the bottom after the institutions have ceased selling. If these areas can be identified they could potentially signal a trend change. So,

my request is to identify levels where volume is declining with smaller volume print sizes as price is either advancing or declining. Maybe the reflection point could be identified with a FOMO bubble. I’m don’t know if TOS provides print sizes, advancing & declining volume data, or any other type of data required for this indicator. I have search for volume indicators on this website but not found anything that addresses what I am looking for. If it does exist, please point me to it. Thank you for considering.

Read Wycoff.

 

[Soon2b]

I went to Investopedia and read about the Wyckoff Method, Wyckoff Rules, Wyckoff Market Cycle, etc. I understand the need for rules, a trading plan, patience and discipline are all part of trading. I was hoping for an indicator to add to my arsenal. If it can’t be done I will continue with what I have. Thank you @TraderZen for responding

 

[MerryDay]

my request is to identify levels where volume is declining with smaller volume print sizes as price is either advancing or declining. Maybe the reflection point could be identified with a FOMO bubble. I’m don’t know if TOS provides print sizes, advancing & declining volume data, or any other type of data required for this indicator. I have search for volume indicators on this website but not found anything that addresses what I am looking for. If it does exist, please point me to it. Thank you for considering.

When we look at the movement of price in comparison to volume, it is called Volume Pressure.

You can start with these two scripts:
https://usethinkscript.com/threads/...ssure-indicators-labels-for-thinkorswim.8466/
https://usethinkscript.com/threads/...labels-for-thinkorswim.8466/page-3#post-98416
(there are a dozen variations in the above thread alone, see which ones work for you).

Here are the other Volume Pressure Threads on the forum:
https://usethinkscript.com/search/1...1&c[nodes][0]=3&c[title_only]=1&o=replies&g=1

You are correct. Volume Pressure is an indicator that provides an abundance of information for all types of traders.
For those that don't have lower chart real estate available, the above threads also include labels, watchlists, and scanner scripts.
Definitely a tool that belongs in every trader's toolbox.

 

[Soon2b]

Never heard it called Volume Pressure. Will take a look at the scripts you suggested. Thank you @MerryDay for giving me a path to walk down.