PVA Volume - DataCrypto Analytics — Indicator by dc_analytics

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The PVA Volume indicator (Price Volume Analysis) is a technical indicator that transforms the accumulated historical data.

The PVA Volume Indicator displays a color-coded volume histogram based on Price Volume Analysis (PVA). It is plotted on a separate panel below the price chart of the underlying asset and colors the candles according to the PVA. The indicator represents four market states by means of four different colored histogram bars:

Green : Extreme volume on a bullish candle
Red : Extreme volume on a bearish candle
Silver : Neutral Volume, increasing more than the average
Gray : Neutral Volume

The PVA Volume indicator can be applied to confirm the action of the high or low price of any financial instrument.

Release Notes:

- Update to version 5
- Code organization

Protected script

This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.

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