This indicator is a live analysis adaptation of Richard Arms' Volume Adjusted Moving Average coded as a single function. VAMA utilizes a period length that is based on volume increments rather than time. Settings are provided for using as a pair of fast and slow moving averages.
• SampleN - N volume bars used as sample to calculate average volume , 0 equals all bars.
• VAMA Source - Price used for volume weighted calculations.
• VAMA Length - Specified number of volume ratio buckets to be reached.
• VAMA VI Fct - Size of volume ratio buckets.
• VAMA Strict - Must meet desired volume requirements, even if number of bars has to exceed VAMA Length to do it.
Please see previous published example here for more details on VAMA's usage and inability to redraw the past on time based charts.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
• SampleN - N volume bars used as sample to calculate average volume , 0 equals all bars.
• VAMA Source - Price used for volume weighted calculations.
• VAMA Length - Specified number of volume ratio buckets to be reached.
• VAMA VI Fct - Size of volume ratio buckets.
• VAMA Strict - Must meet desired volume requirements, even if number of bars has to exceed VAMA Length to do it.
Please see previous published example here for more details on VAMA's usage and inability to redraw the past on time based charts.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Release Notes
Revision 1Removed function's local reliance on global input nvb by changing it to use local _nvb instead, added cosmetic space, revised comment, no calculations are affected from previous version.
Previous lines:
Pine Script®
tvb = 0, tvb := _nvb == 0 ? nz(tvb[1]) + 1 : nvb // total volume bars in sample
tvs = nvb == 0 ? cum(volume) : sum(volume,nvb) // total volume in sample
Revised lines:
Pine Script®
tvb = 0, tvb := _nvb == 0 ? nz(tvb[1]) + 1 : _nvb // total volume bars used in sample
tvs = _nvb == 0 ? cum(volume) : sum(volume, _nvb) // total volume in sample
Release Notes
Revision 2Updated for Pine Script v5.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
lux ex tenebris • deuro mea umbra absens • Telegram: t.me/allanster
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
lux ex tenebris • deuro mea umbra absens • Telegram: t.me/allanster
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.