Display volume totals of each wave of movement. With this you can generally determine when a trend is weakening by lesser relative wave volume in the trend direction whilst increasing volume in the reverse direction.
You can also identify absorption based on high volume waves with less wave distance.
Currently limited to around 50 wave counts per chart due to tradingview limits.
For best results, work through timeframes in the structure you're looking at to obtain the clearest vision of the directional waves.
You can also identify absorption based on high volume waves with less wave distance.
Currently limited to around 50 wave counts per chart due to tradingview limits.
For best results, work through timeframes in the structure you're looking at to obtain the clearest vision of the directional waves.
Versionsinformation:
If you feel this script has helped your trading, donations are appreciated.
BTC: 3KzBWHgxEfE4rtAJkBPhHmjzhcEx7fZ3Ed
XRP: rKQyQ7Gxw9pFekey4Pp9LFbXuhNEW9rDzg
BTC: 3KzBWHgxEfE4rtAJkBPhHmjzhcEx7fZ3Ed
XRP: rKQyQ7Gxw9pFekey4Pp9LFbXuhNEW9rDzg
Versionsinformation:
Changed colours to better suit darker background as well as light.
Hopefully tradingview allows colour selection for labels soon.
Hopefully tradingview allows colour selection for labels soon.