OPEN-SOURCE SCRIPT
[ZLu]Volume Reversal Indicator
**Created by Shanghai Reed Asset Management Co., Ltd.**
5 Entry Conditions by the Original Idea:
1. Absolute Value of 5-day Price Change is larger than Standard Deviation of Price Change
2. 5-day Average Volume is smaller than 75% of 5-day Average Volume ten days ago.
3. 5-day Price Change is negative (Long Entry)
4. 5-day Price Change is positive (Short Entry)
5. All Positions will be closed 5 days after the entry
Enter Long when Price Change Ratio crosses under the Lower Band and Volume Ratio is under the Level
Enter Short when Price Change Ratio crosses over the Upper Band and Volume Ratio is over the Level
5 Entry Conditions by the Original Idea:
1. Absolute Value of 5-day Price Change is larger than Standard Deviation of Price Change
2. 5-day Average Volume is smaller than 75% of 5-day Average Volume ten days ago.
3. 5-day Price Change is negative (Long Entry)
4. 5-day Price Change is positive (Short Entry)
5. All Positions will be closed 5 days after the entry
Enter Long when Price Change Ratio crosses under the Lower Band and Volume Ratio is under the Level
Enter Short when Price Change Ratio crosses over the Upper Band and Volume Ratio is over the Level
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.