Institutional MA Bounce & Support Screener. Description
The Philosophy
Top-tier traders don’t just buy stocks because they are up; they buy them because they show signs of institutional accumulation. This indicator is designed to find "High-Quality Support" signals—instances where a stock in a primary uptrend pulls back to a key moving average (10 SMA, 21 EMA, or 50 SMA) and is met with aggressive buying that drives the price to close near the daily highs.
Key Components
* Trend Alignment: Automatically filters out "laggards" by only flagging setups when price is above the 50 SMA.
* Proximity-Based Bouncing: Unlike rigid indicators that require a "perfect" touch, this uses an editable Buffer %. It catches those high-conviction "front-runs" where price reverses just before hitting the line.
* Volume Conviction: Integrates Relative Volume (RVOL). It ensures you aren't looking at a dead-cat bounce, but a high-volume reversal backed by institutional participation.
* Daily Closing Range (DCR): The final confirmation. It measures the finishing position of the day. A high DCR (>85%) at an MA is a primary signal of "support found."
How to Use with the TradingView Screener (Beta)
This script is optimized with "bundled security calls" to avoid errors in the new TradingView Screener.
* Add the script to your chart.
* Open the Stock Screener (Beta).
* Add columns for Bounce 10SMA, Bounce 21EMA, or Bounce 50SMA.
* Filter for Equals 1 to find stocks currently tagging those levels.
* Combine with the Daily Closing Range filter (> 90) for the ultimate "Power Setup."
Technical Settings
* RelVol Lookback: Compare today's volume against the 20, 50, or 200-day average.
* RelVol Threshold: Set the multiplier (e.g., 1.5x) to find true volume surges.
* Bounce Buffer: Adjust from 0.5% (strict) to 2.0% (loose) depending on market volatility.
A Pro-Tip for your users:
The best setups often occur when the Relative Volume is > 1.2 and the Daily Closing Range is > 90% on the day of the bounce. This indicates that institutions didn't just defend the level—they overwhelmed the sellers by the closing bell.
Would you like me to help you draft the "Release Notes" for when you update this script with the Gemini Confluence Trigger features we discussed?
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