Skip to main content

Modified Volume-Price Trend Indicator for Amibroker (AFL)

chynthia about 16 years ago 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

Indicator / Formula

Copy & Paste Friendly
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

1. konidena
about 16 years ago

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

Report as Spam
3. kv_maligi
about 14 years ago

Hellow,

Can somebody explain me how to intrepete this mvpt chart?

Thanks
viswanath

Report as Spam

Leave Comment

Please login here to leave a comment.