Volume (D)EMA — Indicator by traileriana

volume ema dema atr stddev stdev

A simple yet configurable indicator that shows recent traffic volumes.
The time period is specified as weeks/days/hours/minutes, not as bars.
Set the volume period to non-zero if you want to use a generalized double EMA instead of plain.
The ratio option will show the size of the current volume compared to the volume in the specified time period (expect to see something very non-Gaussian, say goodby to trusting your ATR and stddev, and say hello to fat tails.) With the "together" option, it compares the current volume to the both sides together (buy+sell), otherwise it compares it to just its own.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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//@version=2

// A simple yet configurable indicator that shows recent traffic volumes.
//
// The time period is specified as weeks/days/hours/minutes, not as bars.
//
// Set the volume period to non-zero if you want to use a generalized double EMA instead of plain.
//
// The ratio option will show the size of the current volume compared to the volume in the specified time period (expect to see something VERY non-Gaussian!)
// With "together" it compares it to the full volume, otherwise it compares it to just its own (buy or sell) side.

study("Volume (D)EMA")

pw = input(0.0,"Weeks")
pd = input(0.0,"Days")
ph = input(8.0,"Hours")
pm = input(0,"Minutes", minval=5, step=5)

iv = period == 'M' ? 30*24*60 : period == 'W' ? 7*24*60 : period == 'D' ? 24*60 : interval // current interval in minutes
p = max(1,round(7*24*60*pw + 24*60*pd + 60*ph +pm) / iv)

v = input(0.0, "DEMA Velocity", step=0.1)

gdema(x, p, v) =>
    e = ema(x, p)
    (1+v) * e - v * ema(e, p)

dema(x, p) => gdema(x, p, v)

bs0 = input(false, "Together")
neg = input(false, "Difference") ? -1 : 1


buy_  = dema(close > open ? volume*open : 0, p)
sell_ = dema(close < open ? volume*open : 0, p)

ra = input(false, "Ratio")

bs = bs0 or not ra and neg == -1

buy  = ra ? (close > open ? volume /  buy_[1] + (bs ? sell_[1] : 0) / p : 0) : buy_
sell = ra ? (close < open ? volume / sell_[1] + (bs ?  buy_[1] : 0) / p : 0) : sell_

bsv = bs ? nz(buy) + (ra ? 1 : neg) * nz(sell) : buy

plot(bs ? bsv : buy, style=columns, color = bsv < 0 or ra and close < open ? red : navy)
plot(bs ? na : -sell, style=columns, color = red)