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