An indicator that represent in 3 line my Volume Entropy Divergence Heatmap indicator.
I've use a very basic sum with some weights like this : Long therm > Mid therm > short Therm, But short and mid therm can still have influence.
Some people did request this indicator to be able to use the heatmap in there indicators with the new tradingview link function. There...
This indicator is the Bernoulli Process or Wikipedia - Binary Entropy Function . Within Information Theory, Entropy is the measure of available information, here we use a binary variable 0 or 1 (P) and (1-P) (Bernoulli Function/Distribution), and combined with the Shannon Entropy measurement. As you can see below, it produces some wonderful charts and signals,...