This indicator calculates a Variable Index Dynamic Average (VIDYA) by dynamically adjusting a moving average according to Chande Momentum Oscillator values and smoothing the result.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Volumatic Variable Index Dynamic Average [BigBeluga] plots directly on the main price chart to help traders evaluate current trend direction, volume accumulation during trends, and pivot-based liquidity lines. Main settings allow customization of the VIDYA length, momentum lookback period, band distance factor, and visual options.
Dynamic VIDYA calculation adjusted by Chande Momentum Oscillator
Pivot-based liquidity level and line tracking
Trend direction tracking with volume accumulation
Customizable length, momentum, and band distance factor
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
VIDYA Length
int
10
vidya_length
VIDYA Momentum
int
20
vidya_momentum
Distance factor for upper/lower bands
float
2
band_distance
Source
source
close
source
+
color
#17dfad
up_trend_color
-
color
#dd326b
down_trend_color
Shadow
bool
true
shadow
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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