VEMA indicator is based on lower time frame volume data and it has 3 lines. 20, 50, 100 moving averages of the close price in each candle with the highest volume.
Effectively working fine and hence sharing. Will Add more information with examples in next update
Versionsinformation
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The script changed from a default 10-second time frame to 1-minute time frame.
In case our subscription to TV supports sec based time frame - please set it to 10 sec.
In general observation on any time frame:
If the price crosses all three lines and closes above or below 20-VEMA, we can see good movement in the same direction in short period of time.
Analyze more charts with different time frames along with your favorite indicator and VEMA lines.