Volume Weighted MACD Oscillator
This oscillator plots volume weighted convergence/divergence from the 20, 50 and 200 tick MA's. I wanted to build another way to look at the data I saw being generated in my first script.
Versionsinformation:
When cleaning up the script, I saw that while I based the script off a MACD plot, that it actually charts price variance between the VWMA and the SMA.
The script is currently set to show as "Volume Weighted Price Oscillator". I see a few options here: Plot the MACD histogram and lines into script .. or update the name.
The script is currently set to show as "Volume Weighted Price Oscillator". I see a few options here: Plot the MACD histogram and lines into script .. or update the name.
Versionsinformation:
This update now shades based only if the trend is expanding to help chart the strength of the price action.
When the trend starts to contract ( no shading for several bars in a row) it is generally the beginning of a squeeze.
When the trend starts to contract ( no shading for several bars in a row) it is generally the beginning of a squeeze.