OPEN-SOURCE SCRIPT
[VPCI] Volume Price Confirmation Indicator
Updated
version 1.1
I implemented Volume Price Confirmation Indicator (VPCI), invented by Buff Dormeier.
I applied the logic in the book "Investing with Volume Analysis".
Like MACD, it can also be used as a divergence or convergence method. The default value of whether to use this function is off.
Gold cross and dead cross points can also be marked. The default in this case is on.
It will be continuously updated. I will add the [four kinds of strategic sectors; sooner or later with the volume.
Thank you so much.
I implemented Volume Price Confirmation Indicator (VPCI), invented by Buff Dormeier.
I applied the logic in the book "Investing with Volume Analysis".
Like MACD, it can also be used as a divergence or convergence method. The default value of whether to use this function is off.
Gold cross and dead cross points can also be marked. The default in this case is on.
It will be continuously updated. I will add the [four kinds of strategic sectors; sooner or later with the volume.
Thank you so much.
Release Notes
version 1.2 I fixed some bugs.
Thank you.
Release Notes
version 1.3[ Changes ]
* added the license of this script
Release Notes
version 1.4[ Changes ]
* Improved the readability and consistency of codes
Release Notes
version 1.5[Changes]
1. Removed the function to calculate by signal method like MACD
2. Improving cross-point display logic: Enter the upper and lower percentile values and calculate to display.
Golden Cross (buy recommendation) and Dead Cross (sell recommendation) outside the range.
example) if [Bottom % for Golden Cross, Top % for Death Cross] is [20%, 80%],
Golden Cross is calculated from the bottom percentages between 80% and 100%
and the target range of Death Cross is top percentages between 0% and 20%.
3. Added alpha coefficient
Let alpha be the value obtained by dividing the coefficient of variance of the price by the coefficient of variance of the volume.
I multiply it and calculate VPCI = alpha x VPC x VPR x VM to mitigate it if it overreacts to fluctuations in trading volume.
If the option is off, 1 is assigned to alpha and VPCI is calculated as the existing way.
* CV = std(values) / avg(values)
Release Notes
version 1.7[ Changes ]
1. Removed ALPHA coefficient logic
2. Removed Top and Bottom percent rank logic
3. Support period setting up to 5
Release Notes
version 2021.07.07.aFixed incorrect spelling
Increased the readability of the script
Added comments
Changed the version numbering rule: YYYY.MM.DD.[lowercase alphabetical order]
Release Notes
// version 2021.07.07.b// Fixed incorrect spelling
// Changed the version numbering rule: YYYY.MM.DD.lowercase_alphabetical_order
Release Notes
// version 2021.07.08.a// 1. Assigned so that the product of short and long duration defaults is 50000.
// It's an experimental feature, so I put it in out of curiosity.
// Since the value of product has a constant constant value, the direction of the five VPCIs tends to converge.
// I expect to be able to predict more clearly in which direction the price will go.
// 2. Changed the default value of VPCIS graph to continuous graph of circle.
// 3. Assigned the 5 types of color classification as rainbow colors.
// 4. VPCI legend 1 to 5, respectively, set to RED, ORANGE, YELLOW, GREEN, BLUE as default values.
Release Notes
// version 2021.07.08.b// 1. Removed the default setting "Assigned so that the product of short and long duration defaults is 50000".
// Rolled back to previous version values.
Release Notes
version 2021.07.16.a1. Modified placement of option settings for ease of use
2. Fixed default value of series 1 line to "style_circles"
Release Notes
version 2021.07.16.b 1. Renamed "short" to "fast" and "long" to "slow"
Open-source script
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