After studying and using Nicolas’Cumulated Volume Velocity indicator (https://www.prorealcode.com/prorealtime-indicators/cumulated-volume-velocity/), I wrote this simple screener to detect bullish and bearish crossings:
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p = 10 //10 periods t = 1 //1 = ema Bars = 10 //10 bars if barindex > Bars then if (high<high[1] AND low<low[1]) then CumVolVel = CumVolVel[1]-Range*Volume elsif (high>high[1] AND low>low[1]) then CumVolVel = CumVolVel[1]+Range*Volume else CumVolVel = CumVolVel[1] endif endif avg = average[p,t](CumVolVel) //RETURN CumVolVel coloured(255,0,0) as "Cumulated volume", avg coloured(0,0,255) as "signal line" x = 0 IF CumVolVel CROSSES OVER avg THEN x = 1 ELSIF CumVolVel CROSSES UNDER avg THEN x = 2 ENDIF SCREENER[x](x AS "1=↑, 2=↓") |
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