Empowering wise traders

In his article “Modified Volume- Price Trend Indicator”, David G. Hawkins has demonstrated the Modified Volume-Price Trend Indicator to detect the divergence between price and indicator and predict the new trend direction.

Using Tradecision’s Indicator Builder, one needs to create the MVPT indicator:

MVPT indicator:

input
      Level:"Level",0,-1000,10000;
      Scale:"Scale",1,0.00001,100000;
end_in

var
 rV:=V/50000;
 AvgFour:=(O+H+L+C)/4;
 MVPT:=0;
end_var

if HISTORYSIZE < 1 then return 0;
MVPT:= Level + Scale * Cum( rV * 
(AvgFour - AvgFour\1\)/AvgFour\1\);
return MVPT;