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  • Finite Volume Element (FVE) by Markos Katsanos

 Indicator : FiniteVolumeElement

inputs:
CutOff( .003 ),
Samples( 22 );

variables:
TP( 0 ),
MF( 0 ),
VolumePlusMinus( 0 ),
FVEsum( 0 ),
FveFactor( 0 ),
FVE( 0 ) ;

TP = ( High + Low + Close ) / 3 ;
MF = ( Close - (High + Low ) / 2 )+ TP - TP[1] ;
if MF > CutOff * Close then
FveFactor = 1
else if MF < -1 * CutOff * Close then
FveFactor = -1
else
FveFactor = 0 ;
if BarNumber > Samples then
begin
VolumePlusMinus = Volume * FveFactor ;
FVEsum = Summation( VolumePlusMinus, Samples ) ;
FVE = ( FVEsum / (Average( Volume, Samples) * samples ) ) * 100 ;
Plot1( Average(FVE,1 ) ) ;
end ;

 

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