Volume Effectiveness [BigBitsIO]

This Volume Effectiveness indicator is designed to allow users to try and identify how effective volume is on each candle, and smoothing those values over time to try to find trends.

Volume Effectiveness is the % change in price for each single unit of volume on the associated candle. The value can be positive or negative, but there is an option to just monitor an absolute value.

- Volume Effectiveness
- Toggle if Volume Effectiveness should be an absolute value
- Toggle visibility of bars

- Smoothed moving average of Volume Effectiveness
- Adjustable period on the smoothed moving average
- Several moving average types available to use for the smoothed moving average
- Toggle visibility of smoothed moving average
Catatan Rilis: Changed default smoothing period to 30. Noticed it was able to pick up some hidden divergences better than at 14. Still think I like HMA as the smoothing MA type as it gives the most round curves. Other MAs are much more jagged, and/or relatively flat.
Skrip open-source

Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.

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Hi David, indicator is good, is there any way to adjust it for high low and close price altenative to moving averages.
Hey David, Thanks for the videos and scripts. You videos are very helpful.
Quick question: In a Volume indicator with Simple Moving Average of 9 (any value). Is there a way to identify a crossover between the Volume bar and the volume moving average.
I am trying to work a strategy with Volume and its moving average. The idea is to buy on green candle crossover and sell on red crossover. Thanks
BigBitsIO im_imran
@im_imran, Yes. You can do the volume crossover volume ma with the built-in alert conditions in TradingView. However, if you want to detect the crossover with the color of the candle I believe you will need to code in an alert condition to detect that and the volume crossover at once.
im_imran BigBitsIO
@BigBitsIO, Thank you, I will give it a go :)
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