OPEN-SOURCE SCRIPT
Updated VEMA_LTF

VEMA indicator is based on lower time frame volume data and it has 3 lines.
20, 50, 100 moving averages of the close price in each candle with the highest volume.
Effectively working fine and hence sharing.
Will Add more information with examples in next update
20, 50, 100 moving averages of the close price in each candle with the highest volume.
Effectively working fine and hence sharing.
Will Add more information with examples in next update
Release Notes
The script changed from a default 10-second time frame to 1-minute time frame. In case our subscription to TV supports sec based time frame - please set it to 10 sec.
In general observation on any time frame:
If the price crosses all three lines and closes above or below 20-VEMA, we can see good movement in the same direction in short period of time.
Analyze more charts with different time frames along with your favorite indicator and VEMA lines.
Release Notes
Minor correction as per coding guidelinesOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.