Cumulative Volume Price

Cumulative Volume Price

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.

發布通知:

Added types of moving average and linear regression curve. In case of using linear regression curve length must be around 50