This is from the same article as the FVE Indicator that is meant for short term trading. If someone could port this... much obliged.
Website: http://mkatsanos.com/VFI.htmlThe VFI is based on the popular On Balance Volume (OBV) but with three very important modifications:
Website: http://mkatsanos.com/VFI.htmlThe VFI is based on the popular On Balance Volume (OBV) but with three very important modifications:
- Unlike the OBV, indicator values are no longer meaningless. Positive readings are bullish and negative bearish.
- The calculation is based on the day's median instead of the closing price.
- A volatility threshold takes into account minimal price changes and another threshold eliminates excessive volume.
- The indicator takes into account only the latest 6 month volume action and not the entire data loaded in the chart.
Last edited by a moderator: