OPEN-SOURCE SCRIPT
EDVEFI (Standard MA version)
EDVEFI (Enhanced Dynamic Volume EFI)
This indicator is designed to measure market strength and weakness by combining price movement with volume.
Unlike the traditional Elder Force Index (EFI), which uses only price change and volume, EDVEFI also incorporates candle structure, including price range and wick information, to better reflect market behavior.
The Dynamic EFI is displayed as a bar chart, allowing traders to visualize short-term changes in buying and selling pressure. The Smoothed EFI, calculated using a Simple Moving Average (SMA), serves as a baseline for identifying the overall market trend.
When the Dynamic EFI rises above the Smoothed EFI, it suggests strengthening market momentum. Conversely, when it falls below the Smoothed EFI, it may indicate weakening momentum.
By analyzing both price movement and volume, this indicator helps traders evaluate trend strength, shifts in market sentiment, and changes in buying or selling pressure.
EDVEFI is intended as a market analysis tool rather than a predictive indicator, providing insight into the underlying dynamics of market participation.
This indicator is designed to measure market strength and weakness by combining price movement with volume.
Unlike the traditional Elder Force Index (EFI), which uses only price change and volume, EDVEFI also incorporates candle structure, including price range and wick information, to better reflect market behavior.
The Dynamic EFI is displayed as a bar chart, allowing traders to visualize short-term changes in buying and selling pressure. The Smoothed EFI, calculated using a Simple Moving Average (SMA), serves as a baseline for identifying the overall market trend.
When the Dynamic EFI rises above the Smoothed EFI, it suggests strengthening market momentum. Conversely, when it falls below the Smoothed EFI, it may indicate weakening momentum.
By analyzing both price movement and volume, this indicator helps traders evaluate trend strength, shifts in market sentiment, and changes in buying or selling pressure.
EDVEFI is intended as a market analysis tool rather than a predictive indicator, providing insight into the underlying dynamics of market participation.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。