EVWMA Acc/Dist. Pressure & FRACTAL BANDS by @XeL_Arjona

Version: 3.0 @ 4.11.2015
By Ricardo M Arjona @XeL_Arjona

The following indicator IS NOT INTENDED TO BE A FORMAL INVESTMENT ADVICE OR TRADING RECOMMENDATION BY THE AUTHOR, nor should be construed as such. Users will be fully responsible by their use regarding any kind of trading vehicles or assets.

The following script and ideas within this work are FREELY AND PUBLICLY availables on the Web for NON LUCRATIVE ACTIVITIES and must remain as is.


What is this?

This work is a derivation of my previous Accumulation/Distribution scripts publicly available in TradingView in an effort to clean, speedup and make the indicator cleaner as possible.

The current indicator is based on already tested and Mathematically proof concepts as described below:
  • The MAIN Rolling back median line or "Vortex" is constructed by a simple and equal weighting of distributed volume along the candle range (This approach is just an "estimator" of Buyers Vs. Sellers given the lack of tick resolution in TradingView, a real "DELTA" can only be 100% reliable with Market Depth (Ask/Bid ticks)), Given this, with each "volume weights", the price is post-processed against a true statistical Average calculation formerly: ELASTIC VOLUME WEIGHTED MOVING AVERAGE .

  • The FRACTAL BANDS are just Standard Deviation's with GOLDEN RATIO as multiplier (1.618) derived one from each other within it's origin on the former "Vortex Median".

  • The Standard Error Bands comply as the original indicator described by Jon Andersen but given the true statistical nature of EVWMA, the original LinReg line has been substituted by the former.

ALL NEW IDEAS OR MODIFICATIONS to this indicator are welcome in favor to deploy a better technical tool. Any important addition to this work MUST REMAIN PUBLIC by means of CreativeCommons CC & TradingView user rules. (C) 2015 @XeL_Arjona
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.


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.

Want to use this script on a chart?
//    Ver. 3.0 @ 4.11.2015
//    By Ricardo M Arjona @XeL_Arjona
//      The Following indicator/code IS NOT intended to be
//      a formal investment advice or recommendation by the
//      author, nor should be construed as such. Users
//      will be fully responsible by their use regarding 
//      their own trading vehicles/assets.
//		The embedded code and ideas within this work are 
//		FREELY AND PUBLICLY available on the Web
//		for NON LUCRATIVE ACTIVITIES and must remain as is.
//      CHANGE LOG:
//      -  Derived work from first Accumulation/DistributionAMA
//      Indicators.  For concrete description refer to TV's Script
//      sharing page.
//         ALL NEW IDEAS OR MODIFICATIONS to these indicator(s) are
//      Welcome in favor to deploy a better and more accurate readings.
//      I will be very glad to be notified at Twitter or TradingVew
//      accounts at:   @XeL_Arjona
//      Any important addition to this work MUST REMAIN
//      PUBLIC by means of CreativeCommons CC & TradingView.
//      2015
study("EVWMA Acc/Dist. Pressure & FRACTAL BANDS by @XeL_Arjona", shorttitle="adFB_XeL", overlay=true)
resi = input(title="Fixed TimeFrame Resolution:", type=resolution, defval="D")
p = input(title="Rolling Lookback Window:", defval=756) // 252 avg days = 1 trading year.
eul = input(false, title="Hide Std.ERROR BANDS:")
hide = input(false, title="Hide FRACTAL BANDS:")
resb = resi
bc1 = #99ff99
bc2 = #4ccc4c
bc3 = #1a801a
bc4 = #004c0d
sc1 = #ffc0c0
sc2 = #ff8080
sc3 = #ff4040
sc4 = red
ac1 = blue
// Elastic Volume Weighted Moving Average   
evwma(array,window,shares,volu) =>
    data = nz(data[1],array) * (1-(volu/shares))+(volu/shares)*array
// Bollinger Bands Function
BolB(array,per,mult,dir) =>
    std = stdev(array,per)
    d = dir ? 1 : -1
    band = array + d * mult * std
// Standard Error Band Function
stdeB(array,per,mult,dir) =>
    stde = stdev(array,per)/sqrt(per)
    d = dir ? 1 : -1
    eband = array + d * mult * stde
//Morphic Number Constants for Fractal Multipliers.
_phi = 1.618033  // Phi Number (Fibonacci Seq.)
_pn  = 1.324718  // Plastic Number (Podovan Seq.)
_e   = 2.71828   // e constant (Euler)
Fm = _phi
// Accumulation/Distribution Equal Weighting on candle Range. (As TV has no Tick Resolution)
Hi = max(high,close[1])
Lo = min(low,close[1])
BP = nz(close-Lo) == 0 ? 1 : close-Lo
SP = nz(Hi-close) == 0 ? 1 : Hi-close
// Workaround condition for non-reported volume securities.
evol = volume
vol = na(evol) ? 1 : iff(evol <= 0, 1, evol)
// Acc/Dist. separation Algorithms with EVWMA for each Volume Weight on candle.
BPV = (BP/TP)*vol
SPV = (SP/TP)*vol
bpS = sum(BPV,p)
spS = sum(SPV,p)
bpMavg = nz(evwma(close,p,bpS,vol),bpMavg[1])
spMavg = nz(evwma(close,p,spS,vol),spMavg[1])
VPMavg = avg(bpMavg,spMavg)
// Fractal Deviation Bands (Morphic Multiplier)
vortex = security(tickerid,resb,VPMavg)
bpavg = security(tickerid,resb,bpMavg)
spavg = security(tickerid,resb,spMavg)
dev = Fm        // Standard Deviation Multiplier (Golden Ratio by DEFAULT)
FDBvt = BolB(vortex,p,dev,true)
TB1 = security(tickerid,resb,FDBvt) 
FDB1t = BolB(FDBvt,p,dev,true)
TB2 = security(tickerid,resb,FDB1t)
FDB2t = BolB(FDB1t,p,dev,true)
TB3 = security(tickerid,resb,FDB2t)
FDB3t = BolB(FDB2t,p,dev,true)
TB4 = security(tickerid,resb,FDB3t)
FDBvb = BolB(vortex,p,dev,false)
BB1 = security(tickerid,resb,FDBvb)
FDB1b = BolB(FDBvb,p,dev,false)
BB2 = security(tickerid,resb,FDB1b)
FDB2b = BolB(FDB1b,p,dev,false)
BB3 = security(tickerid,resb,FDB2b)
FDB3b = BolB(FDB2b,p,dev,false)
BB4 = security(tickerid,resb,FDB3b)
//  Standard Error Bands (Euler Mult)
FDBe1t = stdeB(vortex,p,_e*3,true) 
TBe1 = security(tickerid,resb,FDBe1t)
FDBe2t = stdeB(FDBe1t,p,_e*3,true)  
TBe2 = security(tickerid,resb,FDBe2t)
FDBe1b = stdeB(vortex,p,_e*3,false)
BBe1 = security(tickerid,resb,FDBe1b)
FDBe2b = stdeB(FDBe1b,p,_e*3,false)
BBe2 = security(tickerid,resb,FDBe2b)
VortexCol = close >= vortex ? green : red
//Center Avg Line
va = plot(vortex, color=VortexCol, title='Vortex', style=line, linewidth=3, transp=0)
// Fractal Bands
t1 = plot(hide?na:TB1, color=bc4, editable=false, linewidth=1)
t2 = plot(hide?na:TB2, color=bc3, editable=false, linewidth=1)
t3 = plot(hide?na:TB3, color=bc2, editable=false, linewidth=1)
t4 = plot(hide?na:TB4, color=bc1, editable=false, linewidth=1)
b1 = plot(hide?na:BB1, color=sc4, editable=false, linewidth=1)
b2 = plot(hide?na:BB2, color=sc3, editable=false, linewidth=1)
b3 = plot(hide?na:BB3, color=sc2, editable=false, linewidth=1)
b4 = plot(hide?na:BB4, color=sc1, editable=false, linewidth=1)
// Standard Error Bands
et1 = plot(eul?na:TBe1, color=ac1, transp=81, title="StE1u", linewidth=1)
et2 = plot(eul?na:TBe2, color=ac1, transp=81, title="StE2u", linewidth=1)
eb1 = plot(eul?na:BBe1, color=ac1, transp=81, title="StE1d", linewidth=1)
eb2 = plot(eul?na:BBe2, color=ac1, transp=81, title="StE2d", linewidth=1)
fill(va, t1, color=bc1, transp=90, title='BullZ1', editable=false)
fill(t1, t2, color=bc2, transp=90, title='BullZ2', editable=false)
fill(t2, t3, color=bc3, transp=90, title='BullZ3', editable=false)
fill(t3, t4, color=bc4, transp=90, title='BullZ4', editable=false)
fill(va, b1, color=sc1, transp=90, title='BearZ1', editable=false)
fill(b1, b2, color=sc2, transp=90, title='BearZ2', editable=false)
fill(b2, b3, color=sc3, transp=90, title='BearZ3', editable=false)
fill(b3, b4, color=sc4, transp=90, title='BearZ4', editable=false)
fill(et1,et2, color=ac1, transp=90, title='StdE-TOP')
fill(eb1,eb2, color=ac1, transp=90, title='StdE-BOT')