TICK VOLUME INDICATOR V2
History as well as formula:
The Tick Volume Indicator was invented by William Blau as well as has been published in his book “Momentum, Direction as well as Divergence” (1995, page 43).
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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