OPEN-SOURCE SCRIPT
Volume Based Price Prediction [EdgeTerminal]
This indicator combines price action, volume analysis, and trend prediction to forecast potential future price movements. The indicator creates a dynamic prediction zone with confidence bands, helping you visualize possible price trajectories based on current market conditions.
Key Features
Technical Components:
Volume-Price Correlation: The indicator analyzes the relationship between price movements and volume, Identifies stronger trends through volume confirmation and uses Volume-Weighted Average Price (VWAP) for price equilibrium
Trend Strength Analysis: Calculates trend direction using exponential moving averages, weights trend strength by relative volume and incorporates momentum for improved accuracy
Prediction Algorithm: combines current price, trend, and volume metrics, projects future price levels using weighted factors and generates confidence bands based on price volatility
Customizable Parameters:
Moving Average Length: Controls the smoothing period for calculations
Volume Weight Factor: Adjusts how much volume influences predictions
Prediction Periods: Number of bars to project into the future
Confidence Band Width: Controls the width of prediction bands
How to use it:
Look for strong volume confirmation with green candles, watch for prediction line slope changes, use confidence bands to gauge potential volatility and compare predictions with key support/resistance levels
Some useful tips:
Start with default settings and adjust gradually
Use wider confidence bands in volatile markets
Consider prediction lines as zones rather than exact levels
Best applications of this indicator:
Key Features
- Dynamic price prediction based on volume-weighted trend analysis
- Confidence bands showing potential price ranges
- Volume-based candle coloring for enhanced market insight
- VWAP and Moving Average overlay
- Customizable prediction parameters
- Real-time updates with each new bar
Technical Components:
Volume-Price Correlation: The indicator analyzes the relationship between price movements and volume, Identifies stronger trends through volume confirmation and uses Volume-Weighted Average Price (VWAP) for price equilibrium
Trend Strength Analysis: Calculates trend direction using exponential moving averages, weights trend strength by relative volume and incorporates momentum for improved accuracy
Prediction Algorithm: combines current price, trend, and volume metrics, projects future price levels using weighted factors and generates confidence bands based on price volatility
Customizable Parameters:
Moving Average Length: Controls the smoothing period for calculations
Volume Weight Factor: Adjusts how much volume influences predictions
Prediction Periods: Number of bars to project into the future
Confidence Band Width: Controls the width of prediction bands
How to use it:
Look for strong volume confirmation with green candles, watch for prediction line slope changes, use confidence bands to gauge potential volatility and compare predictions with key support/resistance levels
Some useful tips:
Start with default settings and adjust gradually
Use wider confidence bands in volatile markets
Consider prediction lines as zones rather than exact levels
Best applications of this indicator:
- Trend continuation probability assessment
- Potential reversal point identification
- Risk management through confidence bands
- Volume-based trend confirmation
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.