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Calculates the standard Money Flow Index (MFI) oscillator alongside an exponential moving average signal line in a separate pane. The script visually highlights trend conditions through dynamic ribbon filling, optional difference histogram bars, and overbought
Indicator · Pine Script v5 · Own pane
Ease of Movement
Ease of Movement is a technical oscillator that measures the relationship between price changes and volume.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code10
Settings2inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
10 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/ease-of-movement.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Ease of Movement", shorttitle="EOM", format=format.volume, timeframe="", timeframe_gaps=true)
var cumVol = 0.
cumVol += nz(volume)
if barstate.islast and cumVol == 0
runtime.error("No volume is provided by the data vendor.")
length = input.int(14, minval=1)
div = input.int(10000, title="Divisor", minval=1)
eom = ta.sma(div * ta.change(hl2) * (high - low) / volume, length)
plot(eom, "EOM", color=#43A047)
Overview
Ease of Movement calculates the distance moved by the price range midpoint relative to volume, smoothed by a Simple Moving Average. The indicator plots in a separate pane as a single line fluctuating above and below zero. Input settings allow traders to adjust the moving average smoothing length and the divisor used for volume scaling. The script checks for valid volume data and displays a runtime error if volume is unavailable.
- Volume-weighted price movement oscillator
- Simple Moving Average smoothing
- Configurable volume divisor scaling
- Volume data validation check
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volume, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| length | int | 14 | length |
| Divisor | int | 10000 | div |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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