Nova Volume Indicator Suite Edition (NVI SE) by SplitzMagic

10 Haz

Nova Volume Indicator Suite Edition (NVI SE)

The Nova Volume Indicator Suite Edition (NVI SE) is an advanced upgrade to the original Nova tool — designed to elevate your trading strategy by combining volume momentum, volatility, and price structure into a single powerful indicator. This refined edition provides enhanced clarity, new visual cues, and smarter customization to help traders confidently identify high-probability trade setups.

How It Works

The Nova Volume Indicator Suite Edition uses advanced algorithms to analyse real-time price and volume relationships. Key features include:

Volume Momentum Calculation

By evaluating the relationship between price changes and volume, the indicator identifies momentum shifts — highlighting key moments when buyers or sellers gain control. These shifts are plotted as a dynamic histogram, allowing for precise trade timing.

Trend Direction Filter

A built-in price filter based on a moving average confirms the overall market direction. This ensures that trade signals only trigger when aligned with broader trend bias, improving win probability.

Volatility Integration

Nova SE uses price volatility as a normalizing factor to better detect when a momentum move is statistically significant — helping to filter out false signals in choppy conditions.

Alert System

Customizable alert thresholds notify users when bullish or bearish momentum crosses predefined levels. Traders can receive alerts for signal line crosses and background condition changes, making it easier to stay in sync with the market.

Background Highlighting

White or Blue background shading appears when valid bullish or bearish trade conditions are met. This instantly shows you when the market is in a high-probability setup zone — while a black background indicates no valid trade signal, helping you avoid low-conviction entries.

Custom Symbol Support

You can choose to pull data from another instrument - for example, tracking gold volume while trading a related pair. This adds a new layer of analysis for correlated market strategies.

How to Use the Nova Volume Indicator for Entries

Identifying the Trend - Check whether price is above or below the moving average. If above, focus on long setups. If below, focus on shorts.

Spotting Entries

Buy Signal: Look for a white histogram bar (bullish momentum) when price is above the moving average and momentum score exceeds the alert threshold.

Sell Signal: Look for an aqua histogram bar (bearish momentum) when price is below the moving average and momentum score falls below the negative threshold.

Background Confirmation - A white background confirms a bullish condition. A blue background confirms a bearish one. If there’s no background colour, skip the trade - the market is not offering a clear setup.

Stops and Targets - Set stops below the swing low (for buys) or above the swing high (for sells). Aiming for at least a 1:2 risk-to-reward ratio is recommended.

Customizable Settings - The Nova Volume Indicator Suite Edition offers full control over key parameters:

Signal Period: Adjusts the EMA period of the momentum score (signal line).

Volatility Period: Sets the window for measuring price volatility.

Price Filter MA Length: Controls the moving average period used to determine trend bias.

Alert Threshold: Defines the level at which bullish or bearish momentum is confirmed.

Custom Symbol Feed: Optionally track volume and price from another instrument for advanced correlation analysis.

The Nova Volume Indicator Suite Edition is a refined tool for modern traders - combining simplicity with smart design. Whether you're a beginner or experienced trader, Nova SE delivers clarity, customization, and a structured approach to volume-based trading.

Use it to filter out the noise, lock into strong momentum moves, and execute your strategy with confidence.

Start using Nova SE today and experience a smarter way to trade.

12 Haz

Sürüm Notları

--- Updated to Pinescript V6
--- Custom Data feed to only be used on M1 chart

12 Haz

Sürüm Notları

--- Small bug fix updated