Purpose: The indicator aims to display a weighted average price based on cumulative volume and cumulative price within defined lengths.
How it works
Calculation Steps: Cumulative Volume (cumvol): the cumulative total volume. Cumulative Price (cumprice): the cumulative closing price. Net Value (net): Calculates the weighted average price by dividing the cumulative price by the cumulative volume.
Formula: net = (cumulative price * volume) / cumulative volume
Check for Rising Trend: Utilizes a simple moving average to detect rising trends. Uses the ta.rising() function to identify if the simple moving average is rising. If the condition is met, the net value is retained; otherwise, it is inverted.
Interpretation: Positive Values (Green): Indicates a positive weighted volume average price, potentially suggesting upward price momentum or buying pressure. Negative Values (Red): Represents a negative weighted volume average price, possibly signaling downward price momentum or selling pressure.
Usage: Trend Confirmation: Helps confirm trends based on changes in the weighted average price. Volume-Price Relationship: Illustrates the relationship between cumulative volume and price movement.
Informacje o Wersji
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Added types of moving average and linear regression curve. In case of using linear regression curve length must be around 50