OPEN-SOURCE SCRIPT
UCSgears_Transaction Valuation Index
This is an indicator, That works great in a wip-saw market range. Would not use this to trade in a breakout.
I am calling it the "Transaction Value Index (UCS_TVI)", The reason is because, it measure where the price currently from the mean trade value.
The cross represents the highest trade value on that day, circle represents the lowest trade value.
In other words, Top and bottom of the candle wicks, in relation to the mean trade value (MTV).
Watchout for Further Updates on Optimizing this indicator.
DO NOT CONFUSE IT WITH FUNDAMENTAL VALUATION, THIS IS PURELY TECHNICAL VALUATION TECHNIQUE
As Usual, Good Luck
List of All my Indicators - tradingview.com/p/stocks/?sort=recent&time=day&by=ucsgears
I am calling it the "Transaction Value Index (UCS_TVI)", The reason is because, it measure where the price currently from the mean trade value.
The cross represents the highest trade value on that day, circle represents the lowest trade value.
In other words, Top and bottom of the candle wicks, in relation to the mean trade value (MTV).
Watchout for Further Updates on Optimizing this indicator.
DO NOT CONFUSE IT WITH FUNDAMENTAL VALUATION, THIS IS PURELY TECHNICAL VALUATION TECHNIQUE
As Usual, Good Luck
List of All my Indicators - tradingview.com/p/stocks/?sort=recent&time=day&by=ucsgears
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Uday C Santhakumar
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Uday C Santhakumar
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.