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OPEN-SOURCE SCRIPT

BUY & SELL PRESSURE XeLMod V2

12 515
BUY & SELL PRESSURE Oscillator
Ver. 2.0 XelMod

WHAT'S THIS?

This is an UPDATED version of a previous script already posted.

List of changes from previous script:
  • Separated as Column Histogram just the Regressive (Rate-Of-Change) Force of the indicator which gives a faster response of the trend.
  • Default period is now set to 81, as better Oscillator swing lagging.


This is an excelent momentum indicator very similar to ADX but in a candle weighting distribution rather than ranges.

For additional reference:
Karthik Marar BUY AND SELL PRESSURE INDICATORS.

Cheers!
Any feedback will be welcome...
xel_arjona

Open-source script

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.

xel_arjona
Also on:
buyandsellpressureMomentum Indicator (MOM)OscillatorsregressionregressiveanalysisVSA

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
buyandsellpressureMomentum Indicator (MOM)OscillatorsregressionregressiveanalysisVSA

Open-source script

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.

xel_arjona
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.