This overlay indicator marks call and put setups from EMAs, RSI, MACD, and a SPY volume ratio. A call needs higher highs, RSI above its minimum, rising MACD, above-average proxy volume, and a rising trend EMA; a put reverses those tests. Early markers use an E
Indicator · Pine Script v4 · On the chart
Elastic Volume Weighted Moving Average
Calculates an Elastic Volume Weighted Moving Average (EVWMA), incorporating trading volume to dynamically adjust moving average responsiveness over a specified lookback length.
GitHub stars948on the repository
Pine versionv4older, still runs
Lines of code16
Settings3inputs
LicenceGPL-3.0
Last update10 days ago18 Oct 2026
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
16 lines of Pine Script v4 from movings/elastic_volume_weighted_moving_average.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
// Copyright (c) 2018-present, Alex Orekhov (everget)
// Elastic Volume Weighted Moving Average script may be freely distributed under the terms of the GPL-3.0 license.
study("Elastic Volume Weighted Moving Average", shorttitle="EVWMA", overlay=true)
length = input(title="Length", type=input.integer, defval=14)
src = input(title="Source", type=input.source, defval=close)
highlight = input(title="Highlight ?", type=input.bool, defval=true)
volumeSum = sum(volume, length)
evwma = 0.0
evwma := ((volumeSum - volume) * nz(evwma[1]) + volume * src) / volumeSum
evwmaColor = highlight ? evwma > evwma[1] ? color.green : color.red : #6d1e7f
plot(evwma, title="EVWMA", linewidth=2, color=evwmaColor, transp=0)
Overview
Elastic Volume Weighted Moving Average plots directly on the price chart as a single moving average line. Optional color highlighting visually differentiates when the average is rising or falling based on current price action.
- Volume-weighted moving average calculation
- Dynamic directional color highlighting
- Customizable length and price source inputs
Details
Published by
everget on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Moving averages, Volume
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.
Repository
Topics
pinepinescripttechnical-indicatorsindicatorsoscillatorbandsaveragetradingviewindicatormoving-average
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 |
| Source | source | close | src |
| Highlight ? | bool | true | highlight |
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.
Similar Pine Scripts
The Midnight VWAP indicator calculates and overlays two distinct Volume Weighted Average Price (VWAP) lines on the price chart based on customizable session timeframes. It tracks an overnight or pre-market session alongside regular trading hours, resetting cal
LiqSpikeBounceLong Feb2026 is an indicator designed to identify long bounce entries following high-volume liquidation cascades in bearish market contexts. It checks if price is below an exponential moving average, then detects large single-bar drops exceeding
This indicator calculates Kaufman's Adaptive Moving Average (KAMA) on a chosen price source and determines trend direction based on the slope across a configurable lookback window. Signals can be filtered by short-term volatility expansion using ATR comparison
This indicator generates trend-following trade signals on the price chart by combining moving average crossovers with multi-factor filters. It triggers entry alerts when fast and slow EMAs cross in the direction of a baseline trend EMA, confirmed by non-extrem
This overlay indicator plots a SuperTrend using a 10-period ATR with a multiplier of 3, drawing up and down stop lines and a faint trend fill on the price chart. It compares a 9-period EMA with an 18-period EMA and a 12/26/9 MACD against its signal, and it req
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers