Siyeon

Volume Price Confirmation Indicator by 2tm

This script is based on Buff Pelz Dormeier’s article “Investing with Volume Analysus”


As you knows the Volume is the Only Indicator to prior Candles.


So, Lot's of CMT (Charted Market Technicians) invest the Volume Indicator and the Buff Dormeier's VPCI is very popular.


If you have interest let's prey to God Google then he'll be answered.



Anyway, The Basic Logic is this.

a. VPC=SUM(C*V,PERIOD)/SUM(V,PERIOD)-MA(C,PERIOD)

b. VPR= SUM(C*V,PERIOD)/SUM(V,PERIOD)/MA(C,PERIOD)

c. VM=AVG(V,PERIOD)/ AVG (V,PERIOD*K)

d. VPCI=VPC*VPR*VM



Feel free to use my script.
Release Notes: Updates.

I'd made great mistake at the Fomla and now I fixed it.



And I separated VPCI and VPCIS.

With that, now you can make a simple Buy/Sell strategy.




Also I added VPCI's Bollinger Bands

It's much helpful to track change of Volumes.
Release Notes: Updates

Minor Bug Fixed
Release Notes: Minor Update.

- I'd adjusted The Offset of Signal.
- Now you can choose what you want.
Release Notes: Minor Bug Fixed
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.

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