study(title="Periodic Cumulative Net Volume") src = close nv = change(src) > 0 ? volume : change(src) < 0 ? -volume : 0*volume // net volume of positive and negative volume
cnv = sum(nv,10) // cumulative net volume for by perior of 10 use sum; for all use cum //cnv_tb = cnv - sma(cnv,10) //normalized 10 bars moving average
//plot(cnv_tb, color=(cnv_tb >= 0 ? blue : red), title="CNV", style=area) plot(cnv, color=(cnv >= 0 ? green : red), title="CNV", style=area)
// Interpretation --> cnv needs to be equilibrium i.e. near to zero after cycle (green, red zone be similar). //After high Green zone, if value doesn't reach zero, or stay around zero, it indicates demand is active and strong. // Can be a excellelent indicator for parabolic movements. // Too much green == demand active active --> rising // Near zero == accumulation // Too much red == supply on --> falling