TICK VOLUME INDICATOR V2
History as well as formula:
The indicator starts with separating a upticks as well as downticks in any cost bar. The ensuing arrays have been smoothed with DEMA (two-pass EMA with durations r as well as s subsequently). The tender TVI is distributed with a following formula:
TVI_Raw = 100 * ———————————
… as well as a last TVI figure is finished by one some-more EMA smoothing with a duration of u.
Besides regulating TVI for divergence, we have found a shift of TVI slant to be a really utilitarian as well as accurate substitute for shift in cost direction, generally in durations of tall sensitivity in reduced timeframes.
Other MQL4 versions:
The indicator was implemented in MQL4 by
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