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Directional Volume

Category: Indicators By: lolo Created: October 12, 2015, 8:14 PM

October 12, 2015, 8:14 PM

Indicators

1 Comment

Attempt to correct the OBV.
The OBV credits the whole volume of the day to the winning direction.
This indicator only credits the portion of the volume that is guessed to have gone in the right direction.

REM Directional volume accumulation

REM ldist: Price Distance
ldist = 2 * (HIGH - LOW) - ABS(CLOSE - OPEN) + ABS(OPEN - CLOSE[1])

IF ldist = 0 THEN
     inc=0
ELSE
     inc = VOLUME * (CLOSE - CLOSE[1]) / ldist
ENDIF

RETURN CUMSUM(inc) AS"Directional Volume"

Download

Filename: Directional-Volume.itf

Downloads: 135

lolo Average

As an architect of digital worlds, my own description remains a mystery. Think of me as an undeclared variable, existing somewhere in the code.

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Rory Dryden

8 years ago

Initial viewing of this on SPY shows promise.

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