A simple yet configurable indicator that shows recent traffic volumes.
The time period is specified as weeks/days/hours/minutes, not as bars.
Set the volume period to non-zero if you want to use a generalized double EMA instead of plain.
The "ratio" option will show the size of the current volume compared to the average volume as computed for the specified time...
With 4 Moving averages options, length input and source input this script will help you test so you can find the best moving average type and length according to the gaussian distribution theory.
Gaussian Distribution Theory:
68% of all data points fit within 1 Standard deviations of the mean
95% of all data points fit within 2 Standard deviations of...
Study based on Rob Hoffman's Accumulation/Distribution Breakout strategy.
- Green circle on the top wick indicates a "Distribution" wick
- Red circle on the bottom wick indicates an "Accumulation" wick
- A distribution wick in an uptrend gets marked as a Key Resistance. This is marked with green crosses
- An Accumulation wick in a downtrend gets marked as a...