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.

The following properties are available to access:

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