VEMA indicator is based on lower time frame volume data and it has 3 lines. 20, 50, 100 moving averages of the close price in each candle with the highest volume.
Effectively working fine and hence sharing. Will Add more information with examples in next update
Release Notes
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The script changed from a default 10-second time frame to 1-minute time frame.
In case our subscription to TV supports sec based time frame - please set it to 10 sec.
In general observation on any time frame:
If the price crosses all three lines and closes above or below 20-VEMA, we can see good movement in the same direction in short period of time.
Analyze more charts with different time frames along with your favorite indicator and VEMA lines.