Volume Flow Indicator [LazyBear]

VFI,introduced by Markos Katsanos, is based on the popular On Balance Volume (OBV) but with three very important modifications:

* Unlike the OBV, indicator values are no longer meaningless. Positive readings are bullish and negative bearish .
* The calculation is based on the day's median (typical price) instead of the closing price.
* A volatility threshold takes into account minimal price changes and another threshold eliminates excessive volume .

A simplified interpretation of the VFI is:
* Values above zero indicate a bullish state and the crossing of the zero line is the trigger or buy signal.
* The strongest signal with all money flow indicators is of course divergence.

I have exposed options to plot a signal EMA . All parameters are configurable.

Markos suggests using 0.2 coeff for day trading and 0.1 for intra-day.

More info:
Script open-source

Dans le plus pur esprit de TradingView, l'auteur de ce texte l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur ! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?
// @author LazyBear
// If you use this code in its original/modified form, do drop me a note. 

study(title = "Volume Flow Indicator [LazyBear]", shorttitle="VFI_LB")

length = input(130, title="VFI length")
coef = input(0.2)
vcoef = input(2.5, title="Max. vol. cutoff")
smoothVFI=input(false, type=bool)

ma(x,y) => smoothVFI ? sma(x,y) : x

inter = log( typical ) - log( typical[1] )
vinter = stdev(inter, 30 )
cutoff = coef * vinter * close
vave = sma( volume, length )[1]
vmax = vave * vcoef
vc = iff(volume < vmax, volume, vmax) //min( volume, vmax )
mf = typical - typical[1]
vcp = iff( mf > cutoff, vc, iff ( mf < -cutoff, -vc, 0 ) )

vfi = ma(sum( vcp , length )/vave, 3)
vfima=ema( vfi, signalLength )

plot(0, color=gray, style=3)
showHisto=input(false, type=bool)
plot(showHisto ? d : na, style=histogram, color=gray, linewidth=3, transp=50)
plot( vfima , title="EMA of vfi", color=orange)
plot( vfi, title="vfi", color=green,linewidth=2)
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great work man. just discovering your stuff! whats the best timeframe to use this on anyone? 1hr looks sweet so far
+135 Répondre
bhupo420 cantchangehandle
+7 Répondre
great indicator i was wondering which input parameters are best used for 1 min charts?
+69 Répondre
is the histogram showing momentum?.
+44 Répondre
Hello, Thank you for this awesome indicator.

I am just curious, why I am not able to see the grey histogram. I can only see the green and orange lines crossing each other.

I am using google chrome.
+26 Répondre
@AshishF, you need to check the histogram box in the inputs in the indicator settings
+6 Répondre
gmeneguzzo AshishF
@AshishF, same here
Thanks Lazybear, I am using your Better Volume color bar to combine with some of my own scripts, so that I can fit more indicators onto my plot.

Thank you!
+8 Répondre
So far, just from a glance, the Accumulation Swing Index Oscillator seems to be the best from the bunch:
+6 Répondre
LazyBear mika2k1
It has to be, since ASIOsc is my own concoction ;) j/k.

Thanks for the info, BTW.
+3 Répondre
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