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Trend Volume Accumulation

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Summary: This indicator depicts the accumulations of rising and declining volumes of a trend.
Volume Oscillator on the Charts
This indicator was originally written by luxalgo on Tradingview. It is inspired by the Weiss wave indicator and determines the trend direction using a rolling linear regression. Positive acculumations are in blue, where negative ones are in red.
There are two threshold leves included; the upper level is the cumulative mean of the waves based on rising volume and the lower level is the cumulative mean of declining volume.
When a wave reaches a threshold level, the trend has a high probability to reverse it's direction.
Products & Properties
The following properties are available to access:
Product Name Product Variable Properties
TrendVolumeAccumulation TVA rising, declining, direction, upper, lower
The parameters for the indicator's calculations can be changed by locating and opening the Javascript Code under Data Building Procedure -> Procedure Loop under "Trend Volume Accumulation" Procedure Loop.
Example:
A simple strategy could be built when a negative (red) wave exceeds the lower threshold in an attempt to catch a reversing trend:
 chart.at30min.TVA.direction == -1 && chart.at30min.TVA.declining < chart.at30min.TVA.lower
Maintainer:
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