active buy/sell effectiveness — Indicator by wzkkzw12345

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 crossings

Release Notes:

changed default parameters

Release Notes:

reset chart

Release Notes:

changed default parameters

Release Notes:

fixed bugs

Release Notes:

added a weight factor "reliability" as the square root of the number of intrabars detected

Release 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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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