OPEN-SOURCE SCRIPT
Volume Crop ━ Hidden Volume Divergence [whvntr]
Updated
Volume Divergence
• Formula originated from: "Hidden Price Divergence" (circles) by TheLark. I did two things to harness its
effectiveness:
• Firstly, I developed a unique way to filter out the divergence signals that were appearing on both sides of the
midline. This filter will be known as the "Midline Tool". It filters out a lot of the false signals commonly
associated with oscillators.
• Then, I modified the default format from Price to Volume.
• The midline formula "Midline Tool" was developed by me [whvntr]. It adjusts in the thousands since it's volume.
Let me know in the comments if you would rater have a smaller step value than 10,000. How does it work?
Crossover then Crossunder, the arrows only appear during the first sign of hidden volume divergence once
crossing the midline. Normally, these signs appear on both side of the midline both bearish and bullish no
matter if it's on an oversold or overbought side of the spectrum... Also, let
me know in the comments if you would like for me to release an oscillator version of this
indicator for co-witnessing.
Features:
• Volume divergence
• Midline Tool©
• Disclaimer: This indicator does not constitute investment advice. Trade at your own risk with the investments
you can afford to lose because all financial investments have risks and this is not a
guarantee that the volume divergence will be 100% all the time.
• Formula originated from: "Hidden Price Divergence" (circles) by TheLark. I did two things to harness its
effectiveness:
• Firstly, I developed a unique way to filter out the divergence signals that were appearing on both sides of the
midline. This filter will be known as the "Midline Tool". It filters out a lot of the false signals commonly
associated with oscillators.
• Then, I modified the default format from Price to Volume.
• The midline formula "Midline Tool" was developed by me [whvntr]. It adjusts in the thousands since it's volume.
Let me know in the comments if you would rater have a smaller step value than 10,000. How does it work?
Crossover then Crossunder, the arrows only appear during the first sign of hidden volume divergence once
crossing the midline. Normally, these signs appear on both side of the midline both bearish and bullish no
matter if it's on an oversold or overbought side of the spectrum... Also, let
me know in the comments if you would like for me to release an oscillator version of this
indicator for co-witnessing.
Features:
• Volume divergence
• Midline Tool©
• Disclaimer: This indicator does not constitute investment advice. Trade at your own risk with the investments
you can afford to lose because all financial investments have risks and this is not a
guarantee that the volume divergence will be 100% all the time.
Release Notes
TooltipsRelease Notes
Alerts added Release Notes
Conditions updatedRelease Notes
Updated AlertsRelease Notes
Future updates comingRelease Notes
Updated repainting conditions Release Notes
Alerts tested and active. To use: click 🕘Alert + Condition + VOL_CROP + Trigger: "Once Per Bar Close"Release Notes
Alerts in maintenanceRelease Notes
Depiction of how it works:https://www.tradingview.com/x/tWUWvwPY/
Release Notes
MACD lengths updated to 7 & 5 from 26 & 12. If you wish to keep the original settings, you may adjust them in the Inputs menu. 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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.