This indicator draw the difference between the high and low of the price related to the volume. Then we make an average of this oscillator over x period (200 periods by default) plus its standard deviation factorized (factor = 1.5 by default). This line act as a signal for abnormal volume exchange over the specified instrument.
This formula is a derivate from the volume spread analysis candles formations.
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//parameters // daysperiod = 200 // devFactor = 1.5 VOPEN = VCLOSE[1] VCLOSE = close*volume VHIGH = max(max(high*volume,VCLOSE),VOPEN) VLOW = min(min(low*volume,VOPEN),VCLOSE) VHL2 = (VHIGH+VLOW)/2 MVHL2 = average[daysperiod](VHIGH)+STD[daysperiod](VHIGH)*devFactor RETURN VHL2, MVHL2 as "dev curve signal line" |
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