LuxAlgo

Trend Volume Accumulations

Deeply inspired by the Weiss wave indicator, the following indicator aims to return the accumulations of rising and declining volume of a specific trend. Positive waves are constructed using rising volume while negative waves are using declining volume .

The trend is determined by the sign of the rise of a rolling linear regression .

Settings

  • Length : Period of the indicator.
  • Src : Source of the indicator.
  • Linearity : Allows the output of the indicator to look more linear.
  • Mult : the multiplicative factor of both the upper and lower levels
  • Gradient : Use a gradient as color for the waves, true by default.

Usages

The trend volume accumulations (TVA) indicator allows determining the current price trend while taking into account volume , with blue colors representing an uptrend and red colors representing a downtrend.

The first motivation behind this indicator was to see if movements mostly made of declining volume were different from ones made of rising volume .


Waves of low amplitude represent movements with low trading activity.


Using higher values of Linearity allows giving less importance to individual volumes values, thus returning more linear waves as a result.


The indicator includes two levels, the upper one is derived from the cumulative mean of the waves based on rising volume , while the lower one is based on the cumulative mean of the waves based on declining volume , when a wave reaches a level we can expect the current trend to reverse. You can use different values of mult to control the distance from 0 of each level.
Release Notes: Minor Changes.
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?
Our Website to get access to our invite-only scripts: https://LuxAlgo.com

Lux Algo Documentation: https://docs.luxalgo.com

Join our Discord Group: https://discord.gg/LUX

Comments

1=true and 0= false...increíble plot gradient.
+3 Reply
Thank you, Alex! This is an elegant contextual tool.
+3 Reply
alexgrover surfkid
@surfkid, very welcome
+3 Reply
Hello, I don't have this indicator under Indicators & Strategies.
+2 Reply
LuxAlgo luohao8905
@luohao8905, Hi, click "Add to favorite scripts" and it will be within your favorites :)
Reply
@LuxAlgo , this is not an indicator - this is magic :) thank you for sharing.
+1 Reply
LuxAlgo RedKTrader
Reply
bruitdefond RedKTrader
@RedKTrader, how do you use it? I don't understand why there are two levels?
Reply
RedKTrader bruitdefond
@bruitdefond, the script author @LuxAlgo would be the best expert to answer your questions :)
Reply
bruitdefond RedKTrader
@LuxAlgo "The indicator includes two levels, the upper one is derived from the cumulative mean of the waves based on rising volume , while the lower one is based on the cumulative mean of the waves based on declining volume"

Could you explain this a bit more? If the levels denote rising/declining volume, how can a wave reach both at the same time?
+1 Reply
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