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Wyckoff Schematics
Wyckoff Schematics automates the detection of classic Wyckoff structures. Key events such as Selling Climax (SC), Spring, Sign of Strength (SOS), Buying Climax (BC), Upthrust After Distribution (UTAD) and Sign of Weakness (SOW) are detected and labeled. The indicator considers Wyckoff's 2nd Law (Cause and Effect – how large is the accumulation cause relative to the expected effect?) and the 3rd Law (Effort vs. Result – does the volume effort match the price effect?). Phase ranges are visualized as color-coded boxes.
Screenshot coming soon
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Features
Usage: Open the Pine Editor on TradingView, copy the code from the GitHub repository and paste it.
This script is an idea for developing your own Pine Script indicators. It does not constitute investment advice and serves exclusively as technical learning material. Use at your own risk.
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