OPEN-SOURCE SCRIPT
Updated Hancock - PVO Plus
Estimates the buy and sell volume of each candle by using a configurable lower time-frame and creates a momentum oscillator for buy and sell volume, PVO.
This indicator shows higher than normal volume when the silver line cross above 0 and lower than normal when below. The green and red oscillators give an indication of trend direction where the wider they are the stronger the trend.
Happy trading
Hancock
This indicator shows higher than normal volume when the silver line cross above 0 and lower than normal when below. The green and red oscillators give an indication of trend direction where the wider they are the stronger the trend.
Happy trading
Hancock
Release Notes
Added an option to calculate buy and sell volume weighted by wicks. This assumes the most obvious formation of the wicked candle and is turned on by default.Release Notes
Fixed issue preventing chart from plotting with higher time-frames using 15m resolution.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.