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 bugs
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. You can favorite it to use it on a chart.
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