This is the non-accumulating portion of the price-volume trend (PVT)--the amount by which PVT would change each bar--which I have turned into a zero-centered oscillator. The plot is a 9-day EMA of the PVT change, multiplied by 1000 for readability, with lime/red corresponding to whether the actual PVT increased or decreased for that bar.
As always, the length of this moving average is adjustable, as is the source of price(s) to use--open, close, high, low, HL2, HLC3, or OHLC4.
Just what I have been looking for. Works for me! Great Job
dejawuhuu
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This indicator is a hidden gem. This is a very clever way to reprent PVT. Great Job!
I would like to know how do you utilize this indicator? (With which other indicator, etc.)
Lemrin
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@dejawuhuu, I appreciate the compliment, thank you! To be honest, I wrote this as part of teaching myself Pine and learning about TA indicators in general; I have not made specific use of this for any live trading, yet.
jael36
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Hi, I just found this indicator and would love to learn how to properly use it on BTCUSD pairing. Any help is appreciated!