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Volume Mass Psyche
Updated
Volume Mass Psyche is a volume-based indicator that shows intensity and consistency of a uptrend and downtrend.
It takes into account the change of average momentum of volume flow to predict the trend reversals and show the psychological map of the market condition.
The key constants of the formula can be changed to adapt it to your time-frame making it flexible.
How to read a chart using VMP:
This would make a perfect combination with price-based indicators.
It takes into account the change of average momentum of volume flow to predict the trend reversals and show the psychological map of the market condition.
The key constants of the formula can be changed to adapt it to your time-frame making it flexible.
How to read a chart using VMP:
- During a clear uptrend the indicator lights up greenish color.
- Correction of an uptrend - orange.
- A signal for a downtrend would be when indicator turns red.
- Each time you see it blue, a correction from downtrend takes place.
- I also applied EMA to VMP to play a role of confirming a signal.
This would make a perfect combination with price-based indicators.
Release Notes
- Uptrend can be also predicted by this technique: Once blue/orange VMP crosses above it's ema and becomes green. Use other indicators to confirm this signal.
- Vice versa for downtrend
Release Notes
Now it works on most of the TF. Made it more flexible to slightest volume change. An average entry can be considered as safe only when VMP turns green and crosses above black EMA.
Release Notes
Update:Now this indicator will focus on market volume condition and output as histogram
Release Notes
Better experience. Health of the volume trend is projected in comfy way.
Disclaimer
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