OPEN-SOURCE SCRIPT
Volume Equilibrium Overlay(2 of 2)
This is an overlay for a prior script I've created: Volume Equilibrium.
To sum it up in a brief manner, this script plots when there is "volume-equilibrium" aka prices that the market may see as "fair-value" relative to the specified timeframe. This script provides what my last code lacked and that is a visual representation of critical prices.
The arrows beside the indications indicate the direction that the buying/selling volume was heading towards.
UP ARROW - indicates that equilibrium was had via increasing buy volume
DOWN ARROW - indicates that equilibrium was had via decreasing buy volume
Remember, this doesn't inherently mean that a stock is supposed to go up or down. Its just a representation of 'fair-value' points using volume. Also remember... both indicators provide what the other lacks. It isn't necessary to use both but for a broad overview of volume it definitely helps to at least be aware of how this information can be represented. Perhaps... consider switching between the two to see what you may be missing.
I believe finding 'fair-value' points via volume and price action provides a more objective way to measure what prices one should look at rather then arbitrary lines plotted on a chart. For more information feel welcome to look at the script that this code is based off of.
To sum it up in a brief manner, this script plots when there is "volume-equilibrium" aka prices that the market may see as "fair-value" relative to the specified timeframe. This script provides what my last code lacked and that is a visual representation of critical prices.
The arrows beside the indications indicate the direction that the buying/selling volume was heading towards.
UP ARROW - indicates that equilibrium was had via increasing buy volume
DOWN ARROW - indicates that equilibrium was had via decreasing buy volume
Remember, this doesn't inherently mean that a stock is supposed to go up or down. Its just a representation of 'fair-value' points using volume. Also remember... both indicators provide what the other lacks. It isn't necessary to use both but for a broad overview of volume it definitely helps to at least be aware of how this information can be represented. Perhaps... consider switching between the two to see what you may be missing.
I believe finding 'fair-value' points via volume and price action provides a more objective way to measure what prices one should look at rather then arbitrary lines plotted on a chart. For more information feel welcome to look at the script that this code is based off of.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.