The FVE is a pure volume indicator. Unlike most of the other indicators (except OBV), price change doesn?t come into the equation for the FVE (price is not multiplied by volume), but is only used to determine whether money is flowing in or out of the stock. This is contrary to the current trend in the design of modern money flow indicators. The author decided against a price-volume indicator for the following reasons: - A pure volume indicator has more power to contradict. - The number of buyers or sellers (which is assessed by volume) will be the same, regardless of the price fluctuation. - Price-volume indicators tend to spike excessively at breakouts or breakdowns.
I need to look into how you coded this, I have been using FVE for at least a year, coded it myself off the TASC magazine code. It looks entirely different and it oscillates between - and + values, at least in the magazine it does, and so does mine. How did you arrive at your code and the subsequent graph is a little unclear to me.
Could you please provide a source ?
HPotter
⋅
@ekoronin, It can be modification. I do not remember a source. You do not should worry about your code. If it working for you, do not change that.
dheerajsood
⋅
great work!
eykpunter
⋅
I think line 20 needs correction: "Factor = input(0.3, minval=1)" should be "Factor = input(0.3, maxval=1)"
Could you please provide a source ?