Relative Volume Index v0.1 beta
Hello guys,
New volume indicator incoming: now in Beta.
Many thanks in advance to Soru in for testing!
New volume indicator incoming: now in Beta.
Many thanks in advance to Soru in for testing!
study(title="Relative Volume Index v0.1 beta") Price = volume * hlc3 Price_pos = (close >= open) ? Price : na Price_neg = (close < open) ? Price : na //iff(Price >= 0, MFI_pos = Price, MFI_neg = Price) MFI_positive = nz(MFI_positive[1]) + nz(Price_pos) MFI_negative = nz(MFI_negative[1]) + nz(Price_neg) Mrat = MFI_positive / MFI_negative growth_Mrat = (Mrat - Mrat[1]) / Mrat[1] plot(abs(growth_Mrat) * 100, color = (Mrat > Mrat[1] ? (growth_Mrat > growth_Mrat[1] ? green : orange) : na), style=columns, linewidth=2)