This indicator gauges the magnitude of price and volume movement.
The indicator returns both positive and negative values where a
positive value means the market has moved up from yesterday's value
and a negative value means the market has moved down. A large positive
or large negative value indicates a large move in price and/or lighter
volume. A small positive or small negative value indicates a small move
in price and/or heavier volume.
A positive or negative numeric value. A positive value means the market
has moved up from yesterday's value, whereas, a negative value means the
market has moved down.
The indicator returns both positive and negative values where a
positive value means the market has moved up from yesterday's value
and a negative value means the market has moved down. A large positive
or large negative value indicates a large move in price and/or lighter
volume. A small positive or small negative value indicates a small move
in price and/or heavier volume.
A positive or negative numeric value. A positive value means the market
has moved up from yesterday's value, whereas, a negative value means the
market has moved down.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 05/06/2014 // This indicator gauges the magnitude of price and volume movement. // The indicator returns both positive and negative values where a // positive value means the market has moved up from yesterday's value // and a negative value means the market has moved down. A large positive // or large negative value indicates a large move in price and/or lighter // volume. A small positive or small negative value indicates a small move // in price and/or heavier volume. // A positive or negative numeric value. A positive value means the market // has moved up from yesterday's value, whereas, a negative value means the // market has moved down. //////////////////////////////////////////////////////////// study(title="Ease of Movement (EOM)", shorttitle="EOM") hline(0, color=blue, linestyle=line) xHigh = high xLow = low xVolume = volume xHalfRange = (xHigh - xLow) * 0.5 xMidpointMove = mom(xHalfRange, 1) xBoxRatio = iff((xHigh - xLow) != 0, xVolume / (xHigh - xLow), 0) nRes = iff(xBoxRatio != 0, 1000000 * ((xMidpointMove - xMidpointMove[1]) / xBoxRatio), 0) plot(nRes, color=red, title="EOM", style=histogram, linewidth=2)