OPEN-SOURCE SCRIPT
Power Line
A flexible combination of price and volume rate of change. Signals (sources) can be combined to create familiar indicators like On Balance Volume (OBV), or creativity inspired indicators.
The default settings multiply the change in price (flow) by volume (pressure) which is “money” or “power” (like in an electrical circuit). But, any combination of signals can be multiplied/divided... which might be “power", or something else.
See script comments for full details.
This indicator complements the “Multi Oscillator” indicator:
There are many similarities, but “Power Line” plots one line over price: either as an oscillation type signal or it’s integral, which tracks price in some relationship. The Left Axis is used for scaling.
While this indicator is handy for trading decisions, it's highly educational. It has allowed me to get a feel for other well known indicators, like On Balance Volume (OBV), Chaikin Money Flow (CMF), Accumulation/Distribution Lines (ADL), Money Flow Index (MFI)... and others. And in this process, other composite signals unfold quickly. Let your creativity go!
The default settings multiply the change in price (flow) by volume (pressure) which is “money” or “power” (like in an electrical circuit). But, any combination of signals can be multiplied/divided... which might be “power", or something else.
See script comments for full details.
This indicator complements the “Multi Oscillator” indicator:
There are many similarities, but “Power Line” plots one line over price: either as an oscillation type signal or it’s integral, which tracks price in some relationship. The Left Axis is used for scaling.
While this indicator is handy for trading decisions, it's highly educational. It has allowed me to get a feel for other well known indicators, like On Balance Volume (OBV), Chaikin Money Flow (CMF), Accumulation/Distribution Lines (ADL), Money Flow Index (MFI)... and others. And in this process, other composite signals unfold quickly. Let your creativity go!
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.