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Volume Positive Negative Indicator [CC]

The Volume Positive Negative Indicator was created by Markos Katsanos (Stocks and Commodities April 2021 pg 9) and this indicator is useful for determining long trends but with some modification you can use it for short trends as well. Buy when the indicator line is green and sell when it turns red. Make sure to experiment with the threshold and see what works best for you.

Let me know if there are any other indicators you want me to publish!
Skript med en öppen källkod

I sann TradingView-anda har författaren till detta skript publicerat det som öppen källkod, så att handlare kan förstå och verifiera det. Skål för författaren! Du kan använda den gratis men återanvändning av den här koden i en publikation regleras av våra Ordningsregler. Du kan göra den till favorit för att använda den i ett diagram.

Vill du använda det här skriptet i ett diagram?

Kommentarer

I've just added hlines to the code
For anyone who wants the hlines, add this to the code:

hline_color = color.new(color.gray, 80)
hline1 = hline(20, linestyle = hline.style_solid, color = hline_color)
hline2 = hline(-20, linestyle = hline.style_solid, color = hline_color)
hline3 = hline(0, linestyle = hline.style_solid, color = hline_color)
hline4 = hline(80, linestyle = hline.style_solid, color = hline_color)
hline5 = hline(-80, linestyle = hline.style_solid, color = hline_color)

The first number in the brackets is the level that it will appear at. 20, -20, 0, 80, and -80

Even though the original script has no hlines, these numbers are mentioned on M. Katsanos's webpage dedicated to this indicator.
Svara
What a lovely script. I will study it this weekend!

//* by the way, why not request hlc3 in one row? *//
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cheatcountry greenmask9
@greenmask9, this was released before they included hlc3 as a variable but I use it in all of my current scripts. Thank you btw
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greenmask9 cheatcountry
@cheatcountry, Oh, I see
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Where do I signup for your AI program
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cheatcountry r4ranjith
@r4ranjith, just send me a pm
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What type of modifications would be needed on smaller time frames such as 5-15?
Thank you ahead of time
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cheatcountry GarySethi19
@GarySethi19, It would still work the same with smaller time frames but for shorter trend detection, you would just need to lower the threshold amount
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