NeoButane

Pure Volume Divergence [NeoButane]

PVD: MACD with volume as source.

Options to configure:
  • OBV, PVT, or MFI as source
  • Display PVD or a faux zero-based oscillating CVD

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.

Want to use this script on a chart?
My published indicators: https://www.tradingview.com/u/NeoButane/#published-scripts

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)

Comments

100 coins
+3 Reply
Nice and clear to view the divergence, good job mate =D
+2 Reply
Thank you @ICEKI ^^
Reply
You're an angel Neo.
I'm still a total rookie trader but I love flicking through your updates and seeing what you're up to.
Looking forward to playing around with this.
+1 Reply
Thank you @CVDM! That means a lot.
Reply
Thank you for this. I think it will deliver value.
+1 Reply
NeoButane timul20
@timul20, you're welcome! I hope it serves well.
Reply
great
+1 Reply
What does this tell traders? If the Volume Diverges from price?
Reply
@d3dave, it can be the used the same as a MACD. Here's a great resource on MACD, and the concepts can be applied in the same way for PVD.

https://school.stockcharts.com/doku.php?id=technical_indicators%3Amacd-histogram
Reply
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