Hull Volume Waves

28 Nis 2022

Inspired by the works of David Weis, this indicator is an alternative to his classic Weis Volume Waves.

As the name implies, this indicator uses a Hull Moving Average to detect price swings, and calculates the cumulative volume for each of them, separating the up swings from the down swings.

• The chosen length of the HMA determines the size of each swing, meaning lower lengths will detect microswings while higher lengths will only include the main swings.
  
• The length of each swing also determines the color of the upward and downward waves, and you can choose 2 colors each to generate a bullish and bearish gradient.
  
• Extreme values are highlighted in the background. The indicator will compare the current up wave to the last N up volumes, or the current down wave to the last N down volumes. The lookback length can be changed in the menu.
  
  

I hope you find it useful!

28 Nis 2022

Sürüm Notları

-Added input for the number of steps needed for the color gradient