OPEN-SOURCE SCRIPT
Range of volume indicator (ROV)
Range of volume indicator is made to calculate average value of daily, weekly and previous weekly candles
It's usage involves the crossovers we believe that previous weekly average should move downward and daily and weekly ROV should move upward to make entry
It's best time is 30 minutes time frame however it could be used on daily and weekly charts as well
Average = (High+low+bottom)/3
It's usage involves the crossovers we believe that previous weekly average should move downward and daily and weekly ROV should move upward to make entry
It's best time is 30 minutes time frame however it could be used on daily and weekly charts as well
Average = (High+low+bottom)/3
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.
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