DepthHouse Dual Volume Price Strength Index - VPSIDepthHouse Dual Volume Price Strength Index , or VPSI for short, is used to compare Bullish and Bearish Strength Indexes to help determine bull & bear dominance and exhaustion.
The Oscillator Displays both a Bullish and Bearish Strength Index.
It does this a via a series of calculations between price and volume .
A crossover of one or the other generally represents bullish or bearish dominance at that moment.
While their vertical placements represents the Bullish or Bearish Exhaustion level.
In this case it is read much like an RSI, levels over 70 generally represent exhaustion and levels under 30 represents the opposite.
Since these bands act very similar to a RSIs, this can be a great tool to spot divergences.
--Settings--
note: This indicator works best on higher time frames. I typically have it set to at least 1 hr.
Weighted vs. Non-Weighted
This changes the base calculations of the bands. the default is Weighted, which compares both Price and Volume. The Non-Weighted option removes price calculations, and makes it entirely volume based. Depending on what I am trading, I will switch between these two.
Length
Alters the band length. Default is 14.
Smoothing
This option smooths the VPSI bands. Especially comes in handy on lower time frames.
I prefer to leave this on with a smoothing between 2 and 3.
Built-in Alerts
I have 2 preset alerts made for this indicator.
"Bull Crossover" which is a crossover of the Bull and Bear bands
"Bear Crossover" which is a crossover of the Bear and Bull bands
Set these up by going over to the alerts tab and hitting the add alert button.
From there select this indicator as the main condition. The drop-down below should then contain these two alert options.
Try this indicator for FREE! Just leave a comment, visit my website, or feel free to send me a PM
VPI
Volatility Profit (VPI) & Bollinger Bands (BB) [checkm8]Hello and welcome to my 2-in-1 indicator of Volatility Profit Indicator and Bollinger Bands.
Volatility Profit Indicator is a script inspired by Jim Berg, from a 2005 article titled "The Truth About Volatility". This is a set of bands, where the upper band is based on a moving average of highs over a given period, added to the average true range of the period. The lower band is based on a moving average of lows over the same given period, from which the average true range is subtracted. The formula is shown below:
VPI High Band = MA(HI, type, x) + y * ATR(z)
VPI Low Band = MA(LO, type, x) - y * ATR(z)
where... type = MA Type (default to Exponential) x = MA Period (default to 13) y = True Range Multiplier (default to 2) z = True Range Period (default to 20)
Bollinger Bands should be familiar by now, but they are calculated based on a moving average of a source ( / 3), added to a particular standard deviation of the source.
This indicator:
- Allows you to choose whether you want to plot the Volatility Profit Indicator or Bollinger Bands. By default, each will show three bands.
- Has pre-made color schemes to choose from to simplify your life.
- Has smoothing for the Volatility Profit Indicator
- Allows you to choose the source for Bollinger Bands
- Allows you to select what multiplier of the average true range the Volatility Profit Indicator plots, as well as what standard deviations the Bollinger Bands show.
If you have any additional questions, concerns, or suggestions - feel free to reach out.
All the best & happy trading.
