tmv

Function Name: tmv

Tags: None

Category: Momentum, Trend, Volatility, Volume

Excerpt from S&C article:

The Keltner channels overlaid on price serve to identify both trend and volatility. Note that some charting packages use a modification to the Keltner channels that was created by Linda Raschke.

To further assist with trend identification, I added an average directional movement (ADX) indicator to show trend strength. Direction of the movement is calculated from price relation to an eight-period simple moving average. Rather than plot them as separate indicators, I colored the price bars green when a 10-period ADX is rising and price closes above its eight-period simple moving average. The price bars are red when the ADX is rising, but price is closing below an eight-period moving average.

The CCI serves to identify increases and decreases in momentum, price extremes above the +100 and below the -100 levels, price divergences, and price reversals. And because a move above or below the zero line on the indicator corresponds to price moving above or below it's 13-period moving average, it also reveals price direction.

The final component of the TMV is a volume oscillator created by subtracting a short-term average of volume from a long-term volume average. To obtain the extremes during a normal trading month, I subtracted a one-period simple moving average of volume from a 20-period simple moving average of volume to determine the percent change. Even though there are no upper or lower limits for this indicators, spikes generally tend to occur above +50. Those levels can be raised to +75 or higher for those stocks that usually trade on heavy volume.

Note: Volume oscillator extremes are marked with light blue area boxes with white edges.

 

Source: Stocks & Commodities, February 2012: "Trade Breakouts and Retracements with TMV"

 

KeltnerPeriod
	Default Value: 20  |  Minimum: 1  |  Maximum: 999
	Type: Numeric
ShowVolatilityAndTrend
	Default Value: -1
	Type: Boolean
UseLindaRaschkeKeltner
	Default Value: 0
	Type: Boolean
ADXPeriod
	Default Value: 10  |  Minimum: 1  |  Maximum: 999
	Type: Numeric
SMAPeriod
	Default Value: 8  |  Minimum: 1  |  Maximum: 999
	Type: Numeric
ShowTrendStrengthAndDirection
	Default Value: -1
	Type: Boolean
CCIPeriod
	Default Value: 13  |  Minimum: 1  |  Maximum: 999
	Type: Numeric
UpperLevel
	Default Value: 100  |  Minimum: -999  |  Maximum: 999
	Type: Numeric
LowerLevel
	Default Value: -100  |  Minimum: -999  |  Maximum: 999
	Type: Numeric
ShowMomentumAndTrend
	Default Value: -1
	Type: Boolean
ShortTermVolumePeriod
	Default Value: 1  |  Minimum: 1  |  Maximum: 999
	Type: Numeric
LongTermVolumePeriod
	Default Value: 20  |  Minimum: 1  |  Maximum: 999
	Type: Numeric
VolumeOscSpikeThreshold
	Default Value: 50  |  Minimum: 0  |  Maximum: 999
	Type: Numeric
ShowVolumeOscillationExtremes
	Default Value: -1
	Type: Boolean