The Volume RSI (Relative Strength Index) is quite similar to the price based RSI with difference that up-volume and down-volume are used in the RSI formula instead changes in price. If price RSI shows relation between up-moves and down-moves within an analyzed period of time by revealing which moves are stronger, the Volume RSI indicator shows the relation between volume traded during these price up-moves and down- moves respectfully by revealing whether up-volume (bullish money flow) or down-volume (bearish money flow) is stronger.
This indicator estimates the buy and sell volume of each candle by using a configurable lower time-frame and uses the buy and sell volume in the calculation of the RSI Volume (VoRSI)
Happy trading
Hancock
This indicator estimates the buy and sell volume of each candle by using a configurable lower time-frame and uses the buy and sell volume in the calculation of the RSI Volume (VoRSI)
Happy trading
Hancock
Versionsinformation:
Various fixes for NA values breaking the reliability of the volume weighted RSI
Happy trading
Hancock
Happy trading
Hancock
Versionsinformation:
Updated screen shot
Versionsinformation:
Updated UI to be more visual.
Added threshold values for RSI to indicate trend change.
Happy trading
Hancock
Added threshold values for RSI to indicate trend change.
Happy trading
Hancock