OPEN-SOURCE SCRIPT
Normalized Volume Oscillator
This volume indicator works best on comparatively small timeframes (15 minutes, for example).
Based on:
- Normalized Volume Oscillator - indicator for MetaTrader 4 <mql5.com/en/code/8208>
- Using Tick Volume in Forex: A Clear NVO Based Example <mechanicalforex.com/2010/08/using-tick-volume-in-forex-clear.html>
See also:
- Are price updates a good proxy for actual traded volume in FX? <fxstreet.com/education/are-price-updates-a-good-proxy-for-actual-traded-201104220000>
Based on:
- Normalized Volume Oscillator - indicator for MetaTrader 4 <mql5.com/en/code/8208>
- Using Tick Volume in Forex: A Clear NVO Based Example <mechanicalforex.com/2010/08/using-tick-volume-in-forex-clear.html>
See also:
- Are price updates a good proxy for actual traded volume in FX? <fxstreet.com/education/are-price-updates-a-good-proxy-for-actual-traded-201104220000>
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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