Purpose: The indicator aims to display a weighted average price based on cumulative volume and cumulative price within defined lengths.
How it works
Calculation Steps: Cumulative Volume (cumvol): the cumulative total volume. Cumulative Price (cumprice): the cumulative closing price. Net Value (net): Calculates the weighted average price by dividing the cumulative price by the cumulative volume.
Formula: net = (cumulative price * volume) / cumulative volume
Check for Rising Trend: Utilizes a simple moving average to detect rising trends. Uses the ta.rising() function to identify if the simple moving average is rising. If the condition is met, the net value is retained; otherwise, it is inverted.
Interpretation: Positive Values (Green): Indicates a positive weighted volume average price, potentially suggesting upward price momentum or buying pressure. Negative Values (Red): Represents a negative weighted volume average price, possibly signaling downward price momentum or selling pressure.
Usage: Trend Confirmation: Helps confirm trends based on changes in the weighted average price. Volume-Price Relationship: Illustrates the relationship between cumulative volume and price movement.
릴리즈 노트
Added types of moving average and linear regression curve. In case of using linear regression curve length must be around 50
진정한 TradingView 정신에 따라, 이 스크립트의 저자는 트레이더들이 이해하고 검증할 수 있도록 오픈 소스로 공개했습니다. 저자에게 박수를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 출판물에서 이 코드를 재사용하는 것은 하우스 룰에 의해 관리됩니다. 님은 즐겨찾기로 이 스크립트를 차트에서 쓸 수 있습니다.