This simple indicator shows the Accumulated Volume within the current uptrend or downtrend. The uptrend/downtrend is detected by a change in direction of the candles which works very well with Heikin Ashi and Renko charts. Alternatively you can use a Moving average direction to indicate trend direction, which should work on any candle type.
You can select between 11 different types of moving average:
Here is a sample chart using EMA length 6 for trend Direction:
You can select between 11 different types of moving average:
- SMA = Simple Moving Average.
- EMA = Exponential Moving Average.
- WMA = Weighted Moving Average
- VWMA = Volume Weighted Moving Average
- SMMA = Smoothed Simple Moving Average.
- DEMA = Double Exponential Moving Average
- TEMA = Triple Exponential Moving Average.
- HullMA = Hull Moving Average
- SSMA = Ehlers Super Smoother Moving average
- ZEMA = Near Zero Lag Exponential Moving Average.
- TMA = Triangular (smoothed) Simple Moving Average.
Here is a sample chart using EMA length 6 for trend Direction:
Release Notes:
Revision R2:
NOTE: The Running Averaged Volume option "Time Avg" is designed to be used with Renko charts and only works well short brick sizes (<=10pips) + time frames (<=15min) .
- Added Option to show Running Averaged Volume within the Trend. The average using Bar count since start of trend (Bar Avg) or Time since start of Trend (Time Avg).
- Changed Short name to "TVA" - Trend Volume Accumulation
NOTE: The Running Averaged Volume option "Time Avg" is designed to be used with Renko charts and only works well short brick sizes (<=10pips) + time frames (<=15min) .
Release Notes:
Missed one in last update.
- Added Bar Time Normalised Trend Volume Accumulation option, this is really designed for price bar charts like Renko.
JustUncleL