Yet another sweet little indicator which measures price pressure over specific period of time. I call it Price Trend Meter (PTM), It's basically similar to the indicator 'Volume Trend Meter' (VTM) but this time the calculations are based on price rather than volume. The indicator sums up all the prices of the green candles and red candles over a specific period of time (source and bars back can be adjusted in indicator settings).
======= Calculation ========== For Green Column: Total price of green candles is higher than total red candles price for a specific bars back. For Red Column: Total price of red candles is higher than the total green candles price for a specific bars back.
For the Volume Trend Meter indicator go here : https:
Stay tuned and Follow as a combination indicator of the two indicators (VTM + PTM) will be coming up next: https:tradingview.com/u/dman103/ Like if you like and Enjoy.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. 您可以收藏它以在圖表上使用。