mukhlisahmadmy

Average Dollar Normalize Volume

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//Brief Explanation
//--Instead of using Volume Indicator that show the volume in quantity
//--this indicator will show the volume in dollar transaction

//Indicator Value:
//-- A B C D E
//--

//Formula
//--Average Dollar Normalize Volume = Average Price x Volume
//--ADNV Ratio = ADNV / ADNV Moving Average
//--Volume Ratio = Volume / Volume Moving Average

//Setting Moving Average (used by ADNV MA & Volume MA)
//--Type: SMA : EMA
//--Length: 20 :1 : 200

//Setting Minimum Dollar Value
//--Value: 1 : 1 : 900
//--Unit: Million : Thousand

//Bar Color Setting
//--Grow above ADNVMA : Dark Green
//--Grow but below ADNVMA: Light Green
//--Fall and above ADNVMA: Dark Red
//--Fall but below ADNVMA: Light Red
//--Grow but less than Minimum Dollar Value: Dark Black
//--Fall but less than Minimum Dollar Value: Grey
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Release Notes:
Interface update to ease the usage.
Release Notes:
Option for DNV formula reference --> either by 'Average Price' or 'Close Price'
Option to set DNV Ratio threshold level (similar concept to RVOL) --> 0.0 to 99.9
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

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.

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