INVITE-ONLY SCRIPT
VolWaves‴ | Volume Waves‴
Updated
What does it do?
This indicator allows you to identify possible top and bottom reversals by having a prior volume reversal identifiable by positive (top reversal) and negative (bottom reversal) waves.
How does it work?
Everytime the wave starts ending its movement by shrinking the size of the histogram bars, it might be signing that a price reversal is on its way. It is possible to adjust the wave shape by increasing/decreasing its gradient value analysis, but it's so easy to use that sometimes no reconfiguration is needed, just add it and let it guide you.
What's my filling?
I've been testing this indicator for weeks and so far with incredible reversal signals.
This indicator allows you to identify possible top and bottom reversals by having a prior volume reversal identifiable by positive (top reversal) and negative (bottom reversal) waves.
How does it work?
Everytime the wave starts ending its movement by shrinking the size of the histogram bars, it might be signing that a price reversal is on its way. It is possible to adjust the wave shape by increasing/decreasing its gradient value analysis, but it's so easy to use that sometimes no reconfiguration is needed, just add it and let it guide you.
What's my filling?
I've been testing this indicator for weeks and so far with incredible reversal signals.
Release Notes
Otimized version.Release Notes
What signals it provides:- measures the directional force of the volume
- suggests movement reversal
Indicator attributes:
- generally waves formation makes a symmetrical arc
- when the second half of a wave is elongated (compared to its first half), it suggests a lack of directional force of the current movement
- peak / bottom formation suggests reversal of the current movement
- smaller amplitude of a wave (compared to the previous wave) suggests loss of power, and vice-verse
- indicates divergence indication between peaks / bottoms
- when the volume bar touches the volume wave band, it suggests imminent reversal of the current movement
- band opening suggests movement increasing strength in that direction
- wavelengths (distance between two peaks / bottoms) tend to be similar
- subsequent wave rarely occurs
Technical information:
- the calculation of the positive movement is independent of the calculation of the positive movement
- the black line in the upper and lower zone is the average of the wave that is overcome, suggests strength in movement
- bands suggest delimitation of a wave's peak / bottom
Release Notes
Some improvements:- new Expantion/Contraction signal
- code optimization
Release Notes
Just another publication with a cleaner chart.Release Notes
Just added the very right bar image and the Expantion/Contraction arrows that didn't show up in the previous chart.Release Notes
Just minor adjustment to the INPUT panel.Release Notes
Histogram Expand/Contract Arrow Sign implemented.Release Notes
Just updated the colors for the Histogram Expantion/Contration Arrow Sign. Release Notes
Just minor ajustment to Hhistogram color to make it easier to view.Release Notes
Some nice new features:1. now you can choose with color setup you which to see the waves presenting (I like the standard since the other option leads me to misunderstanding signal);
2. light red background presented every time the Volatility is activated in the indicator's timeframe.
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact MarceloTorres for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″If you wish to now more about this indicator, please DM me. Do not call me through the comments area.
Want to use this script on a chart?
Warning: please read before requesting access.
TRADEWISER | Marcelo Torres
marcelo@tradewiser.pro
Vídeo-Análise completa diária no YouTube:
youtube.com/c/TradeWiserPro
Curso/AE
CursoAE.TradeWiser.pro
@TradeWiserPro
Telegram, Twitter, Facebook, LinkedIn, Instagram
marcelo@tradewiser.pro
Vídeo-Análise completa diária no YouTube:
youtube.com/c/TradeWiserPro
Curso/AE
CursoAE.TradeWiser.pro
@TradeWiserPro
Telegram, Twitter, Facebook, LinkedIn, Instagram
Disclaimer
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