Attributable Volume
A volume indicator which calculates "Attributable Volume”, the portion of volume which contributed to the direction in which the candle moved.
Attributable Volume is calculated as: Total volume excluding the "counter wick" volume .
Where for a green (up) candle, the "counter wick" volume is the top wick volume .
In theory, Attributable Volume should better represent the effort of directional thrust of each candle.
By default, this indicator displays “Attributable RVOL”, but can be set to:
Note: RVOL = Relative Volume , the current volume divided by the Volume moving average. RVOL can be used to identify major moves, and potential starts/ends to trends.
Attributable Volume is calculated as: Total volume excluding the "counter wick" volume .
Where for a green (up) candle, the "counter wick" volume is the top wick volume .
In theory, Attributable Volume should better represent the effort of directional thrust of each candle.
By default, this indicator displays “Attributable RVOL”, but can be set to:
Note: RVOL = Relative Volume , the current volume divided by the Volume moving average. RVOL can be used to identify major moves, and potential starts/ends to trends.
Release Notes:
Sourcing
Release Notes:
Sourcing update