Volume Effectiveness [BigBitsIO]

This Volume Effectiveness indicator is designed to allow users to try and identify how effective volume is on each candle, and smoothing those values over time to try to find trends.

Volume Effectiveness is the % change in price for each single unit of volume on the associated candle. The value can be positive or negative, but there is an option to just monitor an absolute value.

Features:
- Volume Effectiveness
- Toggle if Volume Effectiveness should be an absolute value
- Toggle visibility of bars

- Smoothed moving average of Volume Effectiveness
- Adjustable period on the smoothed moving average
- Several moving average types available to use for the smoothed moving average
- Toggle visibility of smoothed moving average

Versionsinformation:

Changed default smoothing period to 30. Noticed it was able to pick up some hidden divergences better than at 14. Still think I like HMA as the smoothing MA type as it gives the most round curves. Other MAs are much more jagged, and/or relatively flat.