OPEN-SOURCE SCRIPT
CDV Momentum Wave
Description:
This indicator visualizes the Cumulative Delta Volume (CDV) as waves, providing traders with insights into the momentum and strength of buying and selling activity. By tracking the cumulative difference between buying and selling pressure, it highlights shifts in market sentiment with color-coded wave patterns.
How to Use:
Spot Momentum:
Green waves signify strong buying pressure, while red waves indicate dominant selling pressure. Blue and orange waves mark transitions or weaker momentum.
Trend Analysis:
Persistent color and direction in waves reflect a strong trend, while frequent shifts may signal reversals or consolidation.
Sensitivity Adjustment:
Use the mul2 setting to fine-tune wave responsiveness for short-term or long-term analysis.
Wave Position Adjustment:
The osx setting adjusts the visual placement of the waves on the chart.
This tool helps traders detect momentum shifts, confirm trends, and understand volume dynamics in various market conditions.
This indicator visualizes the Cumulative Delta Volume (CDV) as waves, providing traders with insights into the momentum and strength of buying and selling activity. By tracking the cumulative difference between buying and selling pressure, it highlights shifts in market sentiment with color-coded wave patterns.
How to Use:
Spot Momentum:
Green waves signify strong buying pressure, while red waves indicate dominant selling pressure. Blue and orange waves mark transitions or weaker momentum.
Trend Analysis:
Persistent color and direction in waves reflect a strong trend, while frequent shifts may signal reversals or consolidation.
Sensitivity Adjustment:
Use the mul2 setting to fine-tune wave responsiveness for short-term or long-term analysis.
Wave Position Adjustment:
The osx setting adjusts the visual placement of the waves on the chart.
- By default (osx = 0), the waves are aligned directly with the candle data they are calculated from.
- Increasing osx shifts the waves forward.
- Decreasing osx shifts the waves backward.
This tool helps traders detect momentum shifts, confirm trends, and understand volume dynamics in various market conditions.
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.
Want to use this script on a chart?
Get access to our indicators at: huntergatherers.tech
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.