[co.n.g] - Simple CVD over MA
This Single Volume Delta (SVD), respectively Cumulative Volume Delta (CVD) is a really simple script computing the difference of the volume of the actual in comparison the the volume of the "Calculation Bars Threshold", calculated by smoothing through a simple moving average - the "CVD MA Smoothing".
Therefore, if the "Calculation Bars Threshold" and the "CVD MA Smoothing" are set to 1, the script will display the difference of the actual compared to the previous candle;
furthermore, if the "Calculation Bars Threshold" is set to 3 and the "CVD MA Smoothing" is set to 14, then the indicator will display the the summed difference of the past 3 values, smoothed over a period of 14 candles.
This indicator may also be set to a different time frame, allowing multi time frame analysis; f.e. if you're going to set a lower time frame than the actual, the deltas of the lower time frame will be displayed and will be showing the volume trend of the lower time frame; if you're going to set a higher time frame, this is respectively working as described.
To understand volume and price action, it is - imho - especially helpful to display the volume of higher time frames to visualize the "Where the heck am I and what are the big players doing?"
This indicator is coloring the histogram in green as positive, red as negative and gray as indecisive CVD.
Hopefully, this will be helpful in your VSA and your trading decisions.
Cheers,
Constantine
p.s.: I am also working on a far more sophisticated version of SVD/CVD, so stay tuned!
Therefore, if the "Calculation Bars Threshold" and the "CVD MA Smoothing" are set to 1, the script will display the difference of the actual compared to the previous candle;
furthermore, if the "Calculation Bars Threshold" is set to 3 and the "CVD MA Smoothing" is set to 14, then the indicator will display the the summed difference of the past 3 values, smoothed over a period of 14 candles.
This indicator may also be set to a different time frame, allowing multi time frame analysis; f.e. if you're going to set a lower time frame than the actual, the deltas of the lower time frame will be displayed and will be showing the volume trend of the lower time frame; if you're going to set a higher time frame, this is respectively working as described.
To understand volume and price action, it is - imho - especially helpful to display the volume of higher time frames to visualize the "Where the heck am I and what are the big players doing?"
This indicator is coloring the histogram in green as positive, red as negative and gray as indecisive CVD.
Hopefully, this will be helpful in your VSA and your trading decisions.
Cheers,
Constantine
p.s.: I am also working on a far more sophisticated version of SVD/CVD, so stay tuned!
Release Notes:
Fixed color plotting
Release Notes:
Due to request I've updated the lookahead which shall resolve the repainting issue.
