Price Volume Strength(PVS) Indicator script has been developed based on Nitish Kumar Sir's concepts. This script uses RSI(9) along with 3 EMA and 21 WMA . 3 EMA and 21 WMA graphs have been plotted on RSI (9). RSI value above 50 will be considered as 'BUY' zone and RSI value below 50 will be considered as 'SELL' zone.
When 21 WMA ( Volume Strength) and 3 EMA (Price Strength) crosses RSI from above (that means both of these will go below RSI), it is a Buy signal. When 21 WMA ( Volume Strength) and 3 EMA (Price Strength) crosses RSI from below (that means both of these will go above RSI), it is a Sell signal.
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Updated overlay
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Updated script name.
If script is getting added to main chart panel, right click on the screen->choose option 'Move To'->choose option 'New Panel Below'
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Updated Overlay
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Update
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Removed RSI overbought and oversold levels value inputs.
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I have added the Squeeze Momentum Indicator developed by LazyBear along with Hilega Milega. This will help in identifying the Bollinger band Blast.
Red crosses on the midline show that the market just entered a squeeze ( Bollinger Bands are within Keltner Channel). This signifies low volatility, the market preparing itself for an explosive move (up or down). Green crosses signify "Squeeze release".
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The script/indicator name has been updated. It will show "HM(by NK sir) & Squeeze momentum by LB [anuragM]" on adding to the chart.
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Removed the Squeeze momentum indicator as it wasn't giving accurate results
@rishabhthebillionaire, Are you facing any issues in adding this indicator to your profile? TradingView will not allow you to publish new indicator as it would be a duplicate.
@rishabhthebillionaire, sorry bro but i dont use this indicator nor i am following NK as its been 3years and i have learned many things which works for me but not this indicator as it is still lagging and i nowadays use just moving averages to trade.
anuragmundra
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@Hrithik12, Agreed. This indicator is great for beginner level but once you become proficient, you can use more simplified things
abhimanyusaini003
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hi like your work on nitish sir knowledge. can you make a script of CPR, bollinger band and vwap in one indicator. this will help lot of NK sir student.
CHDVIKAS
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GR 8, CAN U PLOT UP ARROW WHEN RSI LINE CROSS WMA LINE & VICE VERSA, IT WILL BE VERY HELPFUL
anuragmundra
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@CHDVIKAS, Thanks a lot for the suggestion. I am actually new to the Pine script of TradingView. I need to do some more research on additional plot areas.
I am follower of NK sir and i need to merge HM with another indicator so if u can provide me thid code it will be beneficial please DM
Thank you