This simple but yet efficient indicator view presents the Volume with the following benefits:
1. both buyer and seller volume are shown separately and above zero line, this way its possible to see which side is dominant;
2. both buyer and seller volume are shown separately, with buyers above the zero line and sellers bellow the zero line. The dominant side is shown in its darker color version;
3. 20 period Moving Average line is calculated separately and plotted for each side (buyer/seller);
4. 50% of the 20 period Moving Average line is calculated separately and plotted for each side (buyer/seller);
5. possibility to apply Directional OHLC values to enhance the buyer/seller movement interpretation.
p.s.: the chart presents two MVol indicators to let you see the different possible views.
To request access to this invite-only script, please DM me.
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Just minor adjustment to the INPUT panel.
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What's New - runs on Pine 4 - size arrow for buyer (blue) and seller (red) bar slice: show you if the current slices are greater or not if compared to the previous bar slices - provides buyer and seller slice percentage and average number of trades
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Now you are allowed to visualize the accumulated volume and you define the best period to view it for you asset. This is a game changing for your analysis!
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(updating the right chart)
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(one more chart update, now with description)
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Now you can plot the Volume with a Accumulated format and you define the period to be considered.
Look at the image, the: 1. top MVol: is the regular volume you are already familiar, where the buy and sell partitions of each volume bar are shown separately; 2. bottom MVol: is the 5 period Accumulated Volume. Notice how the buy blue bars takes controle during a certain period of time and than the sell red bars take over during the next time period of time.
Hope you like it!
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Just minor but important updates: 1. now the volume can be ploted with an accumulated format; 2. it's possible to choose the desired period to present accumulated volume. The pre-defined period values are: 6, 20, 72, 100, 200; 3. there's a field to enter your prefered accumulated volume period.