OPEN-SOURCE SCRIPT
Updated Cumulative Volume Delta Divergence
The Cumulative Volume Delta Divergence is an indicator that helps traders visually assess the buying and selling pressures in the market by analyzing volume divergences over time. This indicator overlays directly on the price chart, offering insights into how volume shifts correlate with price movements.
Utility and Trading Benefit
Divergence Detection
Enhanced Decision Making
Utility and Trading Benefit
Divergence Detection
- The primary utility of this indicator lies in its ability to detect divergences between volume trends and price movements. Such divergences can signal potential price reversals, providing traders with early warnings about shifts in market sentiment.
Enhanced Decision Making
- By integrating volume analysis directly with price action on the chart, the indicator aids traders in making more informed decisions regarding entry and exit points. This can be crucial for capitalizing on trends or avoiding potential losses.
Release Notes
fixed standardization using ohcl4 parametersRelease Notes
fixed mistakeRelease Notes
fixed lagRelease Notes
changed to the first divergence detection methodOpen-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.