pauls0101

Effort v Reward

pauls0101 Mis à jour   
I made this indicator to make it easier to compare volume and price movement. This is similar in concept to the Market Facilitation Index by Bill Williams , although hopefully this can make that analysis easier to see at a glance (similar to the way some bar overlays/recolors work but with more detail and in its own pane). The primary use for this indicator would be paying attention to the red EMA , which shows the difference between price movement and volume , normalized within the normalization lookback period (adjustable, defaults to 30 bars). When the red ema moves up, it means there is less effort required to move price more, which means the trend (if there is one) is probably stronger or has had resistance removed/shaken out already; if the red ema moves down into the negative, it means there is a lot of effort for very little price movement, meaning a large battle between the bears and the bulls currently (squat). Enjoy, let me know if you want adjustments, and safe and successful trading!
Notes de version: Update the line color to indicate when values are negative or over 1. I may need to adjust this to some other value rather than a static 1, we'll see.
Notes de version: Updated the highlighting to use a BB instead of static <0, >1 values. The StdDev is adjustable as an input.
Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script 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 le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

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