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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
Net Volume
Net Volume plots signed bar volume in a separate pane.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code8
Settings0inputs
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
8 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/net-volume.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Net Volume", 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.")
nv = math.sign(ta.change(close)) * volume
plot(nv, color=color.blue, title="NV")
Overview
Net Volume multiplies each bar's volume by the sign of the close-to-close change, so a rising close is positive and a falling close is negative. The result is drawn as one blue series titled NV. On the last bar it checks cumulative volume and raises a runtime error when the vendor supplies no volume. There are no inputs, alerts, or trade signals.
- Signed volume from close change
- Blue net volume plot
- Runtime error when volume is missing
- Volume format in a separate pane
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
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.
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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