R100 Wave Volume v2 (*v*)

This indicator is similar to the Weis Wave Volume indicator in that it shows cumulative volume for each up and down price wave. However it is calculated differently, using the Jurik moving average to determine turning points. Use this in conjunction with the R100 Wave indicator to determine the best fit Jurik length and power settings.

A great indicator to help analyse the strength of pullbacks, continuation moves and changes in behaviour.

I hope you get some value out of it. Only conditions of use are that if you improve it, let me know and if you publish something that uses it, don't hide the code! Enjoy!

Code pinched and modified from Zero Lag ZigZag by Duyck - thankyou
Jurik Moving Average (for turning points) by Everget - thankyou
and Weis Wave by Modhelius - thankyou
Remove from Favorite Scripts Add to Favorite Scripts
Hello Sir,

i was using only this indicator in living trading for my Indian stocks, it was really giving perfect signal for buy/sell which i improve myself how to use your indicator and u don't believe me this indicator not even given me a single day loss for the past 3 weeks. I was really thankful to u for creating this a Perfect indicator.
Rooster100 veera_kir
That's great to hear @veera_kir, I'm glad you're finding it useful! This indicator can be used in a lot of different ways- it would be great if you can add a bit of detail about how you use it. I reckon it may help a few people who are interested. Like what type of stocks you trade, what timeframe and are they generally trending or in a range or both for example. And any tips you discovered to help make using it more effective. Cheers and continued success!
veera_kir Rooster100
Sir, presently i don't know how to explain my strategy how i using your indicator for intraday trading in Indian stock Markets, still i didn't come with 100% output. But soon i will explain you.
+1 Reply
Is it possible to use this for live trading or only to look back on the Market? The backtesting looks unreal. Does it redraw?
+1 Reply
Hi @xyse, not sure what sort of back-testing you've done but on its own this is not meant to be a buy/sell trigger- no better than the Jurik MA that the turning points for this indicator are based on anyway. It's value lies in identifying changes in trading behaviour and applies to any timeframe and live trading. There is no re-painting once a turning point has been identified, but the last leg or bar will move about/change colour until the next turning point is established.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out