Volume Based Buy & Sell Momentum

• 01/19/2025 at 8:28 AM #242797
  bruces

  This is a TradingView Pinescript Indicator that I would like to run on ProRealTime in a separate pane and be able to adjust the EMA length please:

  study(title=”Volume Based Buy and Sell Momentum by 2tm”, shorttitle=”VBSM”)

  EMA_Len = input(25, title=”Lenth”, minval=1)

  xROC = roc(close, 1)

  nRes1 = iff(volume < volume[1], nz(nRes1[1], 0) + xROC, nz(nRes1[1], 0))

  nRes2 = iff(volume > volume[1], nz(nRes2[1], 0) + xROC, nz(nRes2[1], 0))

  nRes3 = nRes1 + nRes2

  nResEMA3 = sma(nRes1, EMA_Len) + sma(nRes2, EMA_Len)

  PNVI = plot(nRes3, color=blue, title=”PVI + NVI”)

  PEMA = plot(nResEMA3, color=red, title=”EMA”)

  pCol = nRes3 > nResEMA3 ? blue : red

  fill (PNVI, PEMA, pCol)

  

  bruces

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  01/20/2025 at 12:43 PM #242845
  Iván

  Hi, here you have the code translated:

  // Parameter declaration EMALen = 25 // Adjustable EMA length set by the user // Calculation variables xROC = ROC[1](Close) // Rate of Change of the closing price // Ensure enough bars exist for EMA calculation IF BarIndex > EMALen THEN // Calculate nRes1 based on decreasing volume IF Volume < Volume[1] THEN nRes1 = nRes1[1] + xROC ELSE nRes1 = nRes1[1] ENDIF // Calculate nRes2 based on increasing volume IF Volume > Volume[1] THEN nRes2 = nRes2[1] + xROC ELSE nRes2 = nRes2[1] ENDIF // Combine results to compute nRes3 nRes3 = nRes1 + nRes2 // Combine nRes1 and nRes2 to compute the main indicator // Calculate EMA (Exponential Moving Average) of the accumulators nResEMA1 = Average[EMALen](nRes1) nResEMA2 = Average[EMALen](nRes2) nResEMA3 = nResEMA1 + nResEMA2 // Combine the EMAs of nRes1 and nRes2 to get the total EMA // Determine fill color based on the relationship between nRes3 and nResEMA3 IF nRes3 > nResEMA3 THEN r = 0 g = 0 b = 255 ELSE r = 255 g = 0 b = 0 ENDIF // Draw the shaded area between nRes3 and nResEMA3 with the calculated color ColorBetween(nRes3, nResEMA3, r, g, b, 30) ENDIF // Return the results on the chart RETURN nRes3 AS "PVI+NVI" COLOURED("blue"), nResEMA3 AS "EMA" COLOURED("red")

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  // Parameter declaration EMALen = 25  // Adjustable EMA length set by the user   // Calculation variables xROC = ROC[1](Close)  // Rate of Change of the closing price   // Ensure enough bars exist for EMA calculation IF BarIndex > EMALen THEN       // Calculate nRes1 based on decreasing volume     IF Volume < Volume[1] THEN         nRes1 = nRes1[1] + xROC     ELSE         nRes1 = nRes1[1]       ENDIF       // Calculate nRes2 based on increasing volume     IF Volume > Volume[1] THEN         nRes2 = nRes2[1] + xROC     ELSE         nRes2 = nRes2[1]     ENDIF       // Combine results to compute nRes3     nRes3 = nRes1 + nRes2  // Combine nRes1 and nRes2 to compute the main indicator       // Calculate EMA (Exponential Moving Average) of the accumulators     nResEMA1 = Average[EMALen](nRes1)       nResEMA2 = Average[EMALen](nRes2)     nResEMA3 = nResEMA1 + nResEMA2  // Combine the EMAs of nRes1 and nRes2 to get the total EMA       // Determine fill color based on the relationship between nRes3 and nResEMA3     IF nRes3 > nResEMA3 THEN         r = 0           g = 0         b = 255     ELSE         r = 255         g = 0         b = 0     ENDIF       // Draw the shaded area between nRes3 and nResEMA3 with the calculated color     ColorBetween(nRes3, nResEMA3, r, g, b, 30)   ENDIF   // Return the results on the chart RETURN nRes3 AS "PVI+NVI" COLOURED("blue"), nResEMA3 AS "EMA" COLOURED("red")

  

  Iván

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  01/20/2025 at 11:48 PM #242894
  bruces

  Ivan, Thank you, Thank you Thank you.

  Perfect – Very grateful

  Would it be possible to include the option to paint the EMA line completely red as it is now OR green if Rate of Change is > zero and Red if ROC is < zero and black if ROC = zero?  Not necessary on the other line, just the EMA.

  Hope that is not pushing the boundaries too much.

  Thyank you

  Bruce

  

  bruces

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  01/21/2025 at 9:14 AM #242899
  Iván

  No problem. Here you have it

  // Parameter declaration EMALen = 25 // Adjustable EMA length set by the user // Calculation variables xROC = ROC[1](Close) // Rate of Change of the closing price // Ensure enough bars exist for EMA calculation IF BarIndex > EMALen THEN // Calculate nRes1 based on decreasing volume IF Volume < Volume[1] THEN nRes1 = nRes1[1] + xROC ELSE nRes1 = nRes1[1] ENDIF // Calculate nRes2 based on increasing volume IF Volume > Volume[1] THEN nRes2 = nRes2[1] + xROC ELSE nRes2 = nRes2[1] ENDIF // Combine results to compute nRes3 nRes3 = nRes1 + nRes2 // Combine nRes1 and nRes2 to compute the main indicator // Calculate EMA (Exponential Moving Average) of the accumulators nResEMA1 = Average[EMALen](nRes1) nResEMA2 = Average[EMALen](nRes2) nResEMA3 = nResEMA1 + nResEMA2 // Combine the EMAs of nRes1 and nRes2 to get the total EMA // Determine fill color based on the relationship between nRes3 and nResEMA3 IF nRes3 > nResEMA3 THEN r = 0 g = 0 b = 255 ELSE r = 255 g = 0 b = 0 ENDIF // Draw the shaded area between nRes3 and nResEMA3 with the calculated color ColorBetween(nRes3, nResEMA3, r, g, b, 30) // Determine EMA color based on ROC if xROC > 0 then r1=0 g1=255 b1=0 elsif xROC < 0 then r1=255 g1=0 b1=0 else r1=0 g1=0 b1=0 endif ENDIF // Return the results on the chart RETURN nRes3 AS "PVI+NVI" COLOURED("blue"), nResEMA3 AS "EMA" COLOURED(r1,g1,b1)

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  // Parameter declaration EMALen = 25  // Adjustable EMA length set by the user   // Calculation variables xROC = ROC[1](Close)  // Rate of Change of the closing price   // Ensure enough bars exist for EMA calculation IF BarIndex > EMALen THEN   // Calculate nRes1 based on decreasing volume IF Volume < Volume[1] THEN nRes1 = nRes1[1] + xROC ELSE nRes1 = nRes1[1] ENDIF   // Calculate nRes2 based on increasing volume IF Volume > Volume[1] THEN nRes2 = nRes2[1] + xROC ELSE nRes2 = nRes2[1] ENDIF   // Combine results to compute nRes3 nRes3 = nRes1 + nRes2  // Combine nRes1 and nRes2 to compute the main indicator   // Calculate EMA (Exponential Moving Average) of the accumulators nResEMA1 = Average[EMALen](nRes1) nResEMA2 = Average[EMALen](nRes2) nResEMA3 = nResEMA1 + nResEMA2  // Combine the EMAs of nRes1 and nRes2 to get the total EMA   // Determine fill color based on the relationship between nRes3 and nResEMA3 IF nRes3 > nResEMA3 THEN r = 0 g = 0 b = 255 ELSE r = 255 g = 0 b = 0 ENDIF   // Draw the shaded area between nRes3 and nResEMA3 with the calculated color ColorBetween(nRes3, nResEMA3, r, g, b, 30)   // Determine EMA color based on ROC if xROC > 0 then r1=0 g1=255 b1=0 elsif xROC < 0 then r1=255 g1=0 b1=0 else r1=0 g1=0 b1=0 endif   ENDIF   // Return the results on the chart RETURN nRes3 AS "PVI+NVI" COLOURED("blue"), nResEMA3 AS "EMA" COLOURED(r1,g1,b1)

  

  Iván

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  01/21/2025 at 11:53 AM #242908
  bruces

  Thank you Ivan.  Only issue now is that the colour of the EMA line changes based on the Rate of Change (ROC) of the PVI+NVI Line, not the ROC of the EMA line itself.

  Thank you

  Bruce

  

  bruces

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  01/21/2025 at 3:44 PM #242925
  JS

  Hi,

  Do you mean like this…?

  Volume Based & Sell Momentum

  DefParam DrawOnLastBarOnly=true // Parameter declaration EMALen = 25 // Adjustable EMA length set by the user // Calculation variables xROC = ROC[1](Close) // Rate of Change of the closing price // Ensure enough bars exist for EMA calculation IF BarIndex > EMALen THEN // Calculate nRes1 based on decreasing volume IF Volume < Volume[1] THEN nRes1 = nRes1 + xROC ELSE nRes1 = nRes1 ENDIF // Calculate nRes2 based on increasing volume IF Volume > Volume[1] THEN nRes2 = nRes2 + xROC ELSE nRes2 = nRes2 ENDIF // Combine results to compute nRes3 nRes3 = nRes1 + nRes2 // Combine nRes1 and nRes2 to compute the main indicator // Calculate EMA (Exponential Moving Average) of the accumulators nResEMA1 = Average[EMALen,1](nRes1) nResEMA2 = Average[EMALen,1](nRes2) nResEMA3 = nResEMA1 + nResEMA2 // Combine the EMAs of nRes1 and nRes2 to get the total EMA // Determine fill color based on the relationship between nRes3 and nResEMA3 IF nRes3 > nResEMA3 THEN r = 0 g = 0 b = 255 ELSE r = 255 g = 0 b = 0 ENDIF // Draw the shaded area between nRes3 and nResEMA3 with the calculated color ColorBetween(nRes3, nResEMA3, r, g, b, 30) EndIf EMAROC=ROC[1](nResEMA3) If EMAROC>0 then r=0 g=255 b=0 ElsIf EMAROC<0 then r=255 g=0 b=0 Else r=0 g=0 b=0 EndIf // Return the results on the chart RETURN nRes3 AS "PVI+NVI" COLOURED("blue"), nResEMA3 AS "EMA" COLOURED(r,g,b)

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  DefParam DrawOnLastBarOnly=true // Parameter declaration EMALen = 25  // Adjustable EMA length set by the user // Calculation variables xROC = ROC[1](Close)  // Rate of Change of the closing price // Ensure enough bars exist for EMA calculation IF BarIndex > EMALen THEN // Calculate nRes1 based on decreasing volume IF Volume < Volume[1] THEN nRes1 = nRes1 + xROC ELSE nRes1 = nRes1 ENDIF // Calculate nRes2 based on increasing volume IF Volume > Volume[1] THEN nRes2 = nRes2 + xROC ELSE nRes2 = nRes2 ENDIF // Combine results to compute nRes3 nRes3 = nRes1 + nRes2  // Combine nRes1 and nRes2 to compute the main indicator // Calculate EMA (Exponential Moving Average) of the accumulators nResEMA1 = Average[EMALen,1](nRes1) nResEMA2 = Average[EMALen,1](nRes2) nResEMA3 = nResEMA1 + nResEMA2  // Combine the EMAs of nRes1 and nRes2 to get the total EMA // Determine fill color based on the relationship between nRes3 and nResEMA3 IF nRes3 > nResEMA3 THEN r = 0 g = 0 b = 255 ELSE r = 255 g = 0 b = 0 ENDIF // Draw the shaded area between nRes3 and nResEMA3 with the calculated color ColorBetween(nRes3, nResEMA3, r, g, b, 30) EndIf   EMAROC=ROC[1](nResEMA3)   If EMAROC>0 then r=0 g=255 b=0 ElsIf EMAROC<0 then r=255 g=0 b=0 Else r=0 g=0 b=0 EndIf // Return the results on the chart RETURN nRes3 AS "PVI+NVI" COLOURED("blue"), nResEMA3 AS "EMA" COLOURED(r,g,b)

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  Iván

  

  JS

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  01/23/2025 at 7:58 AM #242973
  bruces

  Hi Ivan, Apologies for delay in getting back to you.

  I think the green (up trend) and red (down trend) of the EMA is now painting correctly on the EMA line on the chart, based on the slope of the EMA – see Pane 4 on attached chart.  However, the plot of the EMA in the latest iteration of the code doesn’t look correct.

  I’ve attached a screen shot of the PRT chart showing:
  Pane 1 – Price Candles
  Pane 2 – Version 1 of the VBSM converted from Tradingview, without alternate color plots on EMA  (weren’t asked for at the time)
  Pane 3 – Version 2 showing alternate color plots on EMA, but color coding incorrectly based on the trend/slope of the PVI+NVI line and not the EMA line
  Pane 4 – Version 3 (and latest) showing alternate color plots on EMA, correctly based on the slope of the EMA line, but with incorrect EMA plot.

  The plot of the EMA in latest version (Pane 4) is different to the previous two plots.  The plots in Panes 2 and 3 are correct as I have compared them to the plot of the original indicator in Tradingview.

  So grateful for your work to date and wondering if you could have a look at for me please and resolve?  That will be all that is required then thank you.

  Thank you

  Bruce

  

  bruces

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  01/23/2025 at 11:02 AM #242978
  JS

  In the first two versions, the “EMA” was calculated as a “Simple Moving Average.”
  See, for example, line 28 in the first and second versions:

   nResEMA1=Average[EMALen](nRes1)

  Here, a “Simple Moving Average” was used for the calculation…

  I changed this in the third version, where the calculation was correctly done using EMA’s instead of SMA’s.

  This explains the difference compared to the first two versions…

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  Iván

  

  JS

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  01/23/2025 at 12:18 PM #242989
  bruces

  Thank you so much Ivan.

  Very grateful

  Bruce

  

  bruces

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