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Elastic Volume Weighted MACD ( EVWMACD )

The Elastic Volume Weighted MACD is a variation of standard MACD .

The Difference is that this script apply the formula of standard MACD with the Elastic Volume Weighted Moving Average .

I took the formula of EVWMA from public library coded by LazyBear.

I use EVWMACD as a trend confirmation indicator.

Just tune all lengths and parameters according to your instruments
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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