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OPEN-SOURCE SCRIPT

active buy/sell effectiveness

By wzkkzw12345
Updated
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
multitimeframeVolume

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

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wzkkzw12345

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