OPEN-SOURCE SCRIPT
PVT + Volume Momentum Signal System
How the indicator works:
PVT (Price Volume Trend) is calculated based on price change and volume, but scaled to the price level so it follows the price action on the chart instead of jumping around when you scroll.
Three EMA lines (10, 20, 50) are plotted on the PVT line to identify trend direction.
Volume Momentum measures the rate of change in volume over time and has a 20 EMA as its signal level.
Signals:
Buy signal (green triangle) only appears when both PVT crosses above EMA20 AND Volume Momentum crosses above its EMA20 – simultaneously.
Sell signal (red triangle) appears when both cross below their EMA20s.
Background color shows the trend: green when both are above their EMA20s (bullish), red when both are below (bearish).
This provides dual confirmation – you only get signals when both the price/volume trend (PVT) and volume momentum point in the same direction, filtering out false signals.
PVT (Price Volume Trend) is calculated based on price change and volume, but scaled to the price level so it follows the price action on the chart instead of jumping around when you scroll.
Three EMA lines (10, 20, 50) are plotted on the PVT line to identify trend direction.
Volume Momentum measures the rate of change in volume over time and has a 20 EMA as its signal level.
Signals:
Buy signal (green triangle) only appears when both PVT crosses above EMA20 AND Volume Momentum crosses above its EMA20 – simultaneously.
Sell signal (red triangle) appears when both cross below their EMA20s.
Background color shows the trend: green when both are above their EMA20s (bullish), red when both are below (bearish).
This provides dual confirmation – you only get signals when both the price/volume trend (PVT) and volume momentum point in the same direction, filtering out false signals.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.