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EnVol Lite By TradeINski
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EnVol Lite By TradeINski
First things first,
This indicator is inspired by Enhanced Volume By TradeINski.
Best suited for momentum/ swing traders whose primary trade timeframe is Daily charts.
Suitable for for dark and light theme of trading view
Contents of the indicator.
1. Moving Average
2. Bar Colors
(a) Default Up & Down
(b) Relatively Up & Down
1. Moving Average
This is a simple moving average line plotted over a specific period of time frame. Default Value is 50 that means average number of shares that are volume traded over the last 50 days.
{Input}
Users have the option to change Period as per their requirement.
{Style}
Users have the option to change Show/Hide the line with "Check Mark".
Users can also change color, thickness and type of representation. "MA line".
2. Bar Colors
(a) Default Up & Down
- If on any specific day % change is positive then that day's volume bar is colored in teal. Hence default Up.
- If on any specific day %change is negative then that day's volume bar is colored in red. Hence Default Down.
- My interpretation for Default Up & Down day is its "Usual volume - usual activity"
(b)Relatively Up & Down
- To get a better understanding of relative Volume it's absolutely necessary to learn about ADR, which is Average daily range. This is coordinates with price not volume of the ticker.
Now ADR Calculation is based on High and low of the day that is average percentage change over a specified period of days. Here the period considered is 20 days.
- Now If on any specific day %change is positive that is up day, Specific day volume is 2 times the average volume and %change is 2 times the ADR then it is considered as relatively Up.
Similarly If on any specific day %change is negative that is down day, Specific day volume is 2 times the average volume and %change is 2 times the ADR then it is considered as relatively own.
- My interpretation for Relatively Up & Down day is its "unusual volume - unusual activity"
{Inputs}
- Users can change colors as per their preference. Default colors are for Default Up "Teal", Default Down "Red", Relatively Up "Lime" and for Relatively Down is "Fuchsia".
First things first,
This indicator is inspired by Enhanced Volume By TradeINski.
Best suited for momentum/ swing traders whose primary trade timeframe is Daily charts.
Suitable for for dark and light theme of trading view
Contents of the indicator.
1. Moving Average
2. Bar Colors
(a) Default Up & Down
(b) Relatively Up & Down
1. Moving Average
This is a simple moving average line plotted over a specific period of time frame. Default Value is 50 that means average number of shares that are volume traded over the last 50 days.
{Input}
Users have the option to change Period as per their requirement.
{Style}
Users have the option to change Show/Hide the line with "Check Mark".
Users can also change color, thickness and type of representation. "MA line".
2. Bar Colors
(a) Default Up & Down
- If on any specific day % change is positive then that day's volume bar is colored in teal. Hence default Up.
- If on any specific day %change is negative then that day's volume bar is colored in red. Hence Default Down.
- My interpretation for Default Up & Down day is its "Usual volume - usual activity"
(b)Relatively Up & Down
- To get a better understanding of relative Volume it's absolutely necessary to learn about ADR, which is Average daily range. This is coordinates with price not volume of the ticker.
Now ADR Calculation is based on High and low of the day that is average percentage change over a specified period of days. Here the period considered is 20 days.
- Now If on any specific day %change is positive that is up day, Specific day volume is 2 times the average volume and %change is 2 times the ADR then it is considered as relatively Up.
Similarly If on any specific day %change is negative that is down day, Specific day volume is 2 times the average volume and %change is 2 times the ADR then it is considered as relatively own.
- My interpretation for Relatively Up & Down day is its "unusual volume - unusual activity"
{Inputs}
- Users can change colors as per their preference. Default colors are for Default Up "Teal", Default Down "Red", Relatively Up "Lime" and for Relatively Down is "Fuchsia".
Информация о релизе
1. Removed Moving Average2. Added Momentum Burst
when ever conditions are satisfied then lime and fuchsia color is used
Users have many options to explore.
3. Added EP 9 Million
When ever volume is more than specified Volume then orange color arrow mark is marked below the volume bar.
Информация о релизе
Added Table with 2 new metric's1. Trend Intensity (TI)
TI is calculated based on slow moving MA and fast moving MA.
Note: TI65 is offset with 1 day
2. Persistent Intensity (PI)
This is calculated based on comparison of green and red bars based on specified period.
Both have default period as 21
Информация о релизе
Added Relative Volume - Todays volume with respect to yesterdays volumeИнформация о релизе
Added,1. Display option for the table - Text/Values.
2. User settings to change text color of the table.
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