OPEN-SOURCE SCRIPT
Trended CVD [Mxwll]
Hey!
This indicator "Trended CVD" categorizes price movement by trend (using zig zag) and calculates cumulative volume delta for the entirety of the price move.
Features
How-To Use Trended CVD
The image above shows one of two primary uses for the indicator.
In the left-half of the image, price is downtrending simultaneously with CVD; thereby, CVD is confirming the downtrend.
The right-half of the image shows price uptrending simultaneously with CVD; CVD is confirming the uptrend.
This information can be used to classify the "strength" of the price move, and decide to trade with it or against it.
The image above shows the second primary use for the indicator.
A slight price decrease transpires while CVD increases - CVD diverging upwards from the price trend.
This information can be used to classify the strength of the downtrend, and decide to trade against it, or abstain from trading with it.
The image above shows, subsequent to divergence, price failed to sustain "meaningful" downwards movement.
Labels oriented at the final pivot of a trend show the cumulative volume delta for the entirety of the price move (distinguishable by the superimposed zig zag line).
That's really it! A more complex concept integrated with a simple output.
Thank you!
This indicator "Trended CVD" categorizes price movement by trend (using zig zag) and calculates cumulative volume delta for the entirety of the price move.
Features
- CVD calculated for the trend
- CVD divergences are distinguished (uptrend and falling CVD / downtrend and rising CVD)
- CVD output normalized to scale with chart, and is plotted alongside the trend
- Can be used for trend confirmation (CVD trend correlating with price trend)
- All regular zig-zag features available
- What constitutes a trend is customizable. Can locate small, medium, large price trends with detailed user-input settings.
How-To Use Trended CVD
The image above shows one of two primary uses for the indicator.
In the left-half of the image, price is downtrending simultaneously with CVD; thereby, CVD is confirming the downtrend.
The right-half of the image shows price uptrending simultaneously with CVD; CVD is confirming the uptrend.
This information can be used to classify the "strength" of the price move, and decide to trade with it or against it.
The image above shows the second primary use for the indicator.
A slight price decrease transpires while CVD increases - CVD diverging upwards from the price trend.
This information can be used to classify the strength of the downtrend, and decide to trade against it, or abstain from trading with it.
The image above shows, subsequent to divergence, price failed to sustain "meaningful" downwards movement.
Labels oriented at the final pivot of a trend show the cumulative volume delta for the entirety of the price move (distinguishable by the superimposed zig zag line).
That's really it! A more complex concept integrated with a simple output.
Thank you!
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.