PROTECTED SOURCE SCRIPT
ITS (Indicator of Turn's Success)
IUS (or indicator of Turn's success) indicates either the changes in trend are real and major or minor and trend will continue any time soon. When the orange line (volume sma) gets over white line (the MFI ema) and then returns back, it indicates that the changes has been major. It happens cuz orange line : volumes increase greatly when the accumulation is started or finished, rise much faster than white line (MFI include also spread, so it takes longer time to get sure, that the change is major). Also there is a standart tool of VSA to indicate PRO - volumes. White - great volumes (often changes), green (good in trend), violet (minor moves) and brown (moves w/ no volumes usually just a rest in the trend)
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Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.