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Modified Volume-Price Trend Indicator for Amibroker (AFL)
Rating:
5 / 5 (Votes 1)
Tags:
amibroker
I was found this afl when I browses in Traders’Tips Website.
Edition : April 2010.
In “Modified Volume-Price Trend Indicator” in this issue, author David Hawkins presents his ideas about using the modified volume-price trend (Mvpt) indicator to discern what the “smart money” is doing in a stock.
Screenshots
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Indicator / Formula
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Version( 5.25 );
Level = Param("Level", 0, -100, 100 );
Scale = Param("Scale", 1, 0.1, 10, 0.1 );
AutoScale = ParamToggle("AutoScale", "No|Yes", 1 );
rV = V/50000;
AvgFour = ( O + H + L + C )/4;
MVPT = Cum( rV * (AvgFour - Ref( AvgFour, -1 ) )/Ref( AvgFour, -1 ) );
Plot( C, "Price", colorBlack, styleBar );
if( AutoScale )
{
fvb = Status("firstvisiblebar");
rangePrice = HighestVisibleValue( H ) - LowestVisibleValue( L );
rangeMVPT = HighestVisibleValue( MVPT ) - LowestVisibleValue( MVPT );
Scale = rangePrice / rangeMVPT;
MVPT *= Scale;
Level = AvgFour[ fvb ] - MVPT[ fvb ];
}
else
{
MVPT *= Scale;
}
MVPT = MVPT + Level;
Plot( MVPT, "MVPT" + StrFormat("(Scale=%g, Level=%g)", Scale, Level), colorRed, styleThick );3 comments
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This works with Ami 5.25 or higher . Will you plz change the same so that it works on lower versions also. Thanks in advance
Subrahmanyam
Not really possible. Technically it is but its too much work sorry.
Hellow,
Can somebody explain me how to intrepete this mvpt chart?
Thanks
viswanath