OPEN-SOURCE SCRIPT
Cumulative Volume Delta - Line
A simple tweak to the CVD indicator from TradingView for better readability.
Use it to spot absorption and exhaustion at key levels.
For example,
Price is making higher highs while CVD is making lower highs - possible exhaustion of buyers
Price is making lower highs while CVD is making higher highs - possible absorption of buyers
Price is making lower lows while CVD is making higher lows - possible exhaustion of sellers
Price is making higher lows while CVD is making lower lows - possible absorption of sellers
Use it to spot absorption and exhaustion at key levels.
For example,
Price is making higher highs while CVD is making lower highs - possible exhaustion of buyers
Price is making lower highs while CVD is making higher highs - possible absorption of buyers
Price is making lower lows while CVD is making higher lows - possible exhaustion of sellers
Price is making higher lows while CVD is making lower lows - possible absorption of sellers
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.