UCSgears_Transaction Valuation Index

This is an indicator, That works great in a wip-saw market range. Would not use this to trade in a breakout.
I am calling it the "Transaction Value Index (UCS_TVI)", The reason is because, it measure where the price currently from the mean trade value.

The cross represents the highest trade value on that day, circle represents the lowest trade value.
In other words, Top and bottom of the candle wicks, in relation to the mean trade value (MTV).

Watchout for Further Updates on Optimizing this indicator.


As Usual, Good Luck

List of All my Indicators - https://www.tradingview.com/p/stocks/?sort=recent&time=day&by=ucsgears
Remove from Favorite Scripts Add to Favorite Scripts
// Created by UCSgears, Inspired from the Value Bands published recently
// Also Inspired from the Hubert Senters "Death of Fundamentals" Webinar

study(title="UCS_Transaction Value Index", shorttitle="UCS_TVI", overlay=false)
lbl = input(5, minval=1, title="Look Back Period Length")
sd = input(0.25, minval=0.1, title = "Zone Multiplier")

// Transaction Value Index
tvic = ((close-(sma(close,lbl)))/sma(tr, lbl))/sd
tvih = ((high-(sma(close,lbl)))/sma(tr, lbl))/sd
tvil = ((low-(sma(close,lbl)))/sma(tr, lbl))/sd
// Horizontal Lines for Zone Seperation
h0=hline(0, "Zero Line", gray, solid, 1)
h1=hline(+5, "Fair Value Top", green, solid, 3)
h2=hline(-5, "Fair Value Bottom", green, solid, 3)
h3=hline(+10, "Over Value", orange, dashed, 1)
h4=hline(-10, "Under Value", orange, dashed, 1)
h5=hline(+15,"Extremely Over Value", red, dashed, 2)
h6=hline(-15,"Extremely Under Value", red, dashed, 2)
fill(h1,h2, green, 80, "Fair Value Zone")
fill(h1,h3, orange, 80, "Over Value Zone")
fill(h3,h5, red, 80, "Extremely Over Value Zone")
fill(h2,h4, orange, 80, "Under Value Zone")
fill(h4,h6, red, 80, "Extremely Under Value Zone")
// TVI for High, Low and Close
plot(tvic, color=blue, title = "TVI - Close", style = linebr, linewidth = 2)
plot(tvih, color=gray, title = "TVI - High", style=cross, linewidth = 2)
plot(tvil, color=gray, title = "TVI - Low", style=circles, linewidth = 2)
Works great on Forex markets!
http://chartandplay.blogspot.com/2014/10/sometimes-free-indicators-with-price.html - Why Pay when you can find it free?
I am working on revising this index. Currently this shows the Levels. Instead I am planning to revise it to show the price and create a dynamic levels. So at a glance we can find how far away the price has moved from the mean. And few more cosmetics.
Nice. Very smart tool!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out