OPEN-SOURCE SCRIPT
Updated active buy/sell effectiveness
Intrabar up/down movement divided by intrabar up/down volume , by counting the candles in a lower time frame. This shows how much active buy/sell orders can push the price and evaluate the selling/buying pressure, and can be used to identify potential swing highs and lows or to confirm patterns.
Release Notes
add high/low levels of volume-based volatility and crossingsRelease Notes
changed default parametersRelease Notes
reset chartRelease Notes
changed default parametersRelease Notes
fixed bugsRelease Notes
added a weight factor "reliability" as the square root of the number of intrabars detectedRelease Notes
fixed bugsOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.