OPEN-SOURCE SCRIPT
Elastic Volume Weighted MACD ( EVWMACD )
The Elastic Volume Weighted MACD is a variation of standard MACD.
The Difference is that this script apply the formula of standard MACD with the Elastic Volume Weighted Moving Average.
I took the formula of EVWMA from public library coded by LazyBear.
I use EVWMACD as a trend confirmation indicator.
Just tune all lengths and parameters according to your instruments
The Difference is that this script apply the formula of standard MACD with the Elastic Volume Weighted Moving Average.
I took the formula of EVWMA from public library coded by LazyBear.
I use EVWMACD as a trend confirmation indicator.
Just tune all lengths and parameters according to your instruments
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.
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.
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.
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.