OPEN-SOURCE SCRIPT
Vulture 2.0
This indicator ("Vulture 2.0") is the volume of a candle divided by the spread.
When higher than 2 standard deviations, it suggests demand aggressively opposing supply and vice versa.
When lower than 2 standard deviations, it suggests demand hardly being opposed by supply or vice versa.
E.g., if the vulture is very high and volume is also very high, this indicates high institutional activity (who is usually right) against the herd (who is usually wrong). If the vulture is very low and volume is very high, this suggests a mark up or mark down. If vulture is very high and volume is very low, whilst prices are climbing up to a resistance area, the low volume climb is less likely an ease of movement, and more likely to be a significant "no demand" candle, and so prices are likely on the verge of a reversal back to the downside.
NB:
For standard deviations, n=14. This indicator has to be used with others. It is an adjunct indicator and a powerful one. My previous version "Vulture" violated the Pine Code house rules, so it got shielded from public view. This is my first experience with writing in Pine Code and publishing. I suspect it was because I didn't publish with a clean chart without other indicators added. My apologies in advance if version 2.0 is again another violation, which will then get shielded again. I am only publishing out of good will to share that's all.
When higher than 2 standard deviations, it suggests demand aggressively opposing supply and vice versa.
When lower than 2 standard deviations, it suggests demand hardly being opposed by supply or vice versa.
E.g., if the vulture is very high and volume is also very high, this indicates high institutional activity (who is usually right) against the herd (who is usually wrong). If the vulture is very low and volume is very high, this suggests a mark up or mark down. If vulture is very high and volume is very low, whilst prices are climbing up to a resistance area, the low volume climb is less likely an ease of movement, and more likely to be a significant "no demand" candle, and so prices are likely on the verge of a reversal back to the downside.
NB:
For standard deviations, n=14. This indicator has to be used with others. It is an adjunct indicator and a powerful one. My previous version "Vulture" violated the Pine Code house rules, so it got shielded from public view. This is my first experience with writing in Pine Code and publishing. I suspect it was because I didn't publish with a clean chart without other indicators added. My apologies in advance if version 2.0 is again another violation, which will then get shielded again. I am only publishing out of good will to share that's all.
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。