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Price Volume Divergence

kikfraben  
Volume Trend Analysis
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volumestudies trendanalysis
Price Volume Divergence (PVD) is designed to add extra confluence to volume analysis and mark potential reversals in the prevailing trend.

The script uses a simple correlation of price and volume over the predefined time horizon in "PVD Length".

If the correlation is positive (>0) the plotted line gets coloured blue.
If the correlation is negative (<0) the plotted line get coloured in red.

PVD should not be used on its own but in conjunction with other indicators!
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.

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.

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