pequet

Volume Impetus (The VIMP)

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// Created by @pequet (https://www.tradingview.com/u/pequet) April 1 2016 
// Based on a concept by @CRInvestor (http://www.therationalinvestor.co)
// https://github.com/pequet/the-vimp
// MIT License 
// @version=2
//

study(title="Volume Impetus (The VIMP)", shorttitle="Bring Out The VIMP v1.0") // 

// inputs
vimpInvertedBear = input(false, title="15 Tips for Surviving a Bear Encounter") 
// our two protagonists
vimpBullVolume = iff(close > open, volume, na) 
vimpBearVolume = iff(close < open, volume, na) 
// draw the volume bars
vimpBarColor = iff(vimpBullVolume, #6aa84f, #ff0000) 
vimpVolumeBars = iff(close < open, vimpInvertedBear ? -volume : volume, iff(close > open, volume, 0))
vimpVolumeBarsPlotObj = plot(vimpVolumeBars, style=columns, color=vimpBarColor, transp=50, title="Volume Bars")
// market structure 
vimpBullPlotObj = plot(vimpBullVolume, color=#6aa84f, style=line, transp=0, linewidth=2, title="Bulls")
vimpBearPlotObj = plot(vimpInvertedBear ? -vimpBearVolume : vimpBearVolume, color=#ff0000, style=line, transp=0, linewidth=2, title="Bears")
// floor
h0 = hline(0, title="Floor") 

// that's it 
Looks cool. Could tell us a little more about how to use this? I understand the divergences, but not sure whats going on inside the box you marked out.
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pequet PRO TheYangGuizi
Confirmed market structure. The box could also be extended a few bars to the left. Those happening simultaneously on price or independent indicators can carry a lot of weight.

As for OBV the new local high doesn't carry more information than we already had, I think I was going for the cross over its moving average - if that was the kind of thing you pay attention to.
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