Valtos SR Levels identify supply and demand levels using order flow analytics algorithms developed by Mike Valtos of orderflows.com. You can read more about the indicator here: https://www.orderflows.com/valtossrlevels.html
emoji trading’s implementation of the indicator algorithm is enhanced with the emoji Advanced Lookback Filterand EmojiZone Visualisation Modes.
Indicator Settings & Outputs Reference
The minimum volume in the bar necessary to allow a Valtos SR condition to apply.
Filter Valtos SR Levels Events using the emoji Advanced Lookback Filter to only identify events that occur at relative highs and lows.
Select the ratio of passive to aggressive trading. A higher setting will result in fewer signals.
Recommended settings:
• Yes: bars upwards of 5 minutes or 8 range
• No: faster bars, e.g. 1 minute or 4 range
Set this to No for the algorithm to disregard whether the bar has an Unfinished Auction.
Select whether Delta needs to oppose price in order for a Valtos SR Level Supply/Demand Event to apply.
If set to Yes, bars that close at the same price at which they opened will be considered.
The number of ticks away from the bar high/low that the Supply/Demand indicator Output Signals are drawn.
The standard set of EmojiZone Visualization Settings as described within the EmojiZone Visualisation Modes documentation.
This indicator provides:
• Output Signals
• EmojiZone Data