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vitalizzy

Volume Indicator VS

vitalizzy  
Volume Indicator Price Volume Trend (PVT)
61
3
volume pricevolumetrend
idea take from Alexander Elder, author of: The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

Meaning of colouring:

- Green bar Volume: If we look back certain numbers of volume bars, higher close price and higher volume.
- Blue bar Volume: If we look back certain numbers of volume bars, higher close price and lower volume.
- Red bar Volume: If we look back certain numbers of volume bars, lower close price and higher volume.
- Orange bar Volume: If we look back certain numbers of volume bars, lower close prince and lower volume.
- Grey bar Volume: If we look back certain numbers of volume bars, same price and same volume.
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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