The indicator is called the "Awesome Cumulative Volume Oscillator" (ACVO), which analyzes the cumulative trading volume of the underlying asset. The indicator also plots the deviation of the cumulative trading volume from the first SMA value, which is referred to as the "Cumulative Volume Deviation". The zero-line is plotted as a reference point. If the "Cumulative Volume Deviation" is greater than 0, it indicates an uptrend, as the cumulative trading volume is above the first SMA value. If the "Cumulative Volume Deviation" is less than 0, it indicates a downtrend, as the cumulative trading volume is below the first SMA value. However, it is important to note that using a single indicator is not sufficient to conduct a comprehensive market analysis. It is necessary to combine multiple indicators and analysis methods to make informed trading decisions.
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The indicator is called the "Awesome Cumulative Volume Oscillator" (ACVO), which analyzes the cumulative trading volume of the underlying asset. The indicator also plots the deviation of the cumulative trading volume from the first SMA value, which is referred to as the "Cumulative Volume Deviation". The zero-line is plotted as a reference point. If the "Cumulative Volume Deviation" is greater than 0, it indicates an uptrend, as the cumulative trading volume is above the first SMA value. If the "Cumulative Volume Deviation" is less than 0, it indicates a downtrend, as the cumulative trading volume is below the first SMA value. However, it is important to note that using a single indicator is not sufficient to conduct a comprehensive market analysis. It is necessary to combine multiple indicators and analysis methods to make informed trading decisions.
isnt this just a Bollinger band with volume instead of a moving average?
brettkind
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@CoffeeshopCrypto, the basis of the Bollinger Bands is a Moving Average. The upper and lower bands are calculated by the positive and negative standard deviation from the Moving Average. The volume is also weighted based on the percentage price movement of the bar. The Moving Average has been zeroed for the indicator, similar to the Awesome Oscillator.
There is also a function that adjusts the length (bars used for the calculation) of the indicator when there are fewer bars than the desired length.