Trend Volume Indicator by [VanHelsing]

22 thg 2, 2023

Trend Volume and Momentum based indicator

How it works:
The principle of the volume zone oscillator was used here,
but instead of closes > closes[lookback] (price momentum) was used RSI,
if RSI > 50 it is a positive momentum and we get + volume value, otherwise - volume
Instead of ema's here is a Volume-Weighted Average Price (VWAP) which gives us such shape of TVI line that in general less sensitive to the pullbacks inside a trend.

This indicator is good for catching and following trends.

You can use alerts as well for take values of trend (-1,1) from 1-10D timeframes

Here how to read it

22 thg 2, 2023

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