Trade Volume Index

[shrike 10]

Hi

 

Today while i've surfing ,i found this site :

http://www.stator-afm.com/trade-volume-index.html

where speak about this indicator, i tried to built it :

I haven't tested yet , nor i know if is a bullsh... , should try and test if it can be useful

 

 

variables:
change(0),mtv(MinMove),direction(0),trvi(0);


if date >date[1] then
trvi =0;


value1=mtv/100;

change=c-c[1];

if change > value1 then
direction=1;

if change < -value1 then
direction=2;

if change <= value1 and change >= -value1 then
direction=3;


if direction=1 then 
trvi=trvi+Volume;

if direction=2 then 
trvi=trvi-Volume;


if direction=3 then 
trvi=trvi;

plot1(trvi); plot2(0);