Calculates an Elastic Volume Weighted Moving Average (EVWMA), incorporating trading volume to dynamically adjust moving average responsiveness over a specified lookback length. It plots directly on the price chart as a single moving average line. Optional colo
Indicator · Pine Script v6 · On the chart
Trade Value
This indicator calculates a trade value for each bar by multiplying volume by the average of open, high, low, and close.
GitHub stars1on the repository
Pine versionv6current
Lines of code17
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago3 Mar 2025
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
17 lines of Pine Script v6 from Trade-Value-Display.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © yuli-kamakura
//@version=6
indicator("Trade Value", overlay=true)
// Using ohlc4 (open+high+low+close)/4 for a more comprehensive average price calculation
// ohlc4 is a built-in variable that equals (open + high + low + close) / 4
tradeValue = volume * ohlc4
plot(
tradeValue,
title = "Trade Value",
format = format.volume,
color = color.new(color.red, 100), // 100% transparent
style = plot.style_line,
linewidth = 1)
Overview
Trade Value plots that series on the price chart with a fully transparent line so the chart stays visually clear while the value remains readable in the Data Window. The plot uses volume formatting. There are no user inputs, signals, or trading rules.
- Volume times OHLC4 trade value
- Fully transparent chart plot
- Values readable in the Data Window
- Volume-formatted line plot
- Overlay on the price chart
Details
Published by
barnett-yuxiang on GitHub
Code credit
yuli-kamakura, as written in the script's header
Type
Indicator, Pine Script v6
Draws
On the price 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.
Repository
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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