QuantNomad

QuantNomad - Elastic Volume Weighted Moving Average

EVWMA is a quite interesting moving average where period of the MA is defined from volume itself.
It incorporates volume information in a natural and logical way. The eVWMA can be looked at as an approximation to the average price paid per share.

As a volume period you can use:
- Absolute volume value, for example floating number of shares. 134M for Tesla for example.
- Sum of the last x bars volumes.

Indicator was developer by Christian P. Fries, Ph .D.
Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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