This is a PineScript translation of Welkin's Advanced Volume Indicator Overlay, originally written for ThinkOrSwim. This tool is designed to facilitate Volume Spread Analysis (VSA) by highlighting areas of above average volume alongside price movement.
This indicator does two things:
1. Plots lines that extend from candles of above average, high, and very high...
Waves in Price (Volume Waves)
TheDowVolumeBigot>0 (Bullish) =Lime color
Very High=Dark Green color
TheDowVolumeBigot<0 (Bearish) =Orange color
Very Low=Dark Red color
Volume indicator adjusted according to price movement.
It is used to confirm entry into trades , Each candle represents a measure of the strength of the change in volume with the price calculated by more than one mathematical equation.
the best way to use :
Divergence, either positive or negative
It is used with Crypto currencies and stocks, not suitable for...
Script is designed predominantly for Indian users. Many are used to looking at numbers in lakhs and crores vs millions and billions, this provides a volume figure in rupee crores.
Formula is last close_price x volume / 1 cr or (close_price x volume /10000000). The second figure is the simple moving average (default to 20sma ) again in rupee crores. The third is...
An indicator that studies the price movement with the trading volume in the form of an equation that represents the trading volume in the price range.
It is excellently used to determine buying from support areas, as well as confirming the breach of resistances, see the example in the attached chart,
The best use of it is the DIVERGENCE between the indicator and...
Freedom of Movement Indicator
In “Evidence-Based Support & Resistance” article, author Melvin Dickover introduces two new indicators to help traders note support and resistance areas by identifying supply and demand pools. Here you can find the support-resistance technical indicator called "Freedom of...