pauls0101

Effort v Reward

I made this indicator to make it easier to compare volume and price movement. This is similar in concept to the Market Facilitation Index by Bill Williams , although hopefully this can make that analysis easier to see at a glance (similar to the way some bar overlays/recolors work but with more detail and in its own pane). The primary use for this indicator would be paying attention to the red EMA , which shows the difference between price movement and volume , normalized within the normalization lookback period (adjustable, defaults to 30 bars). When the red ema moves up, it means there is less effort required to move price more, which means the trend (if there is one) is probably stronger or has had resistance removed/shaken out already; if the red ema moves down into the negative, it means there is a lot of effort for very little price movement, meaning a large battle between the bears and the bulls currently (squat). Enjoy, let me know if you want adjustments, and safe and successful trading!
הערות שחרור: Update the line color to indicate when values are negative or over 1. I may need to adjust this to some other value rather than a static 1, we'll see.
הערות שחרור: Updated the highlighting to use a BB instead of static <0, >1 values. The StdDev is adjustable as an input.
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תגובות

I like your stuff here...maybe try V-V(previous volume) and C-C(previous close).
השב
pauls0101 kocurekc
@kocurekc, thanks! Are you saying instead of normalizing it or just adding an additional plot? I'm not sure what advantage you'd get from knowing the volume and close minus the previous.
השב
kocurekc pauls0101
@pauls0101, Just an idea, instead of measuring the volume ratioed max-min range, look at the change in volume normalized the max-min range. Of course, this starts to just look like a stochastic C-min/(max-min)
השב
pauls0101 kocurekc
@kocurekc, Yeah, I think that could be valuable but adding moving averages would give similar results, no?
השב
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