Trader Set - Volume Strength Momentum
The concept of RSI is that we take the strength of the price and show it as an oscillator, this will show the balance of strength between buyers and seller.
In Volume Strength Momentum, the concept is to find the strength balance between selling and buying volume and calculate the momentum of it. This will become another leading indicator that shows possible critical moments that we can have a shift of strength on volume.
The formula for the strength and momentum calculation is original and not related to rsi in any shape or form.
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Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact CAB_Member directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.