Modified Volume- Price Trend Indicator
In his article ďModified Volume- Price Trend IndicatorĒ, 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 Tradecisionís Indicator Builder, one needs to create the MVPT indicator:
if HISTORYSIZE < 1 then return 0;
MVPT:= Level + Scale * Cum( rV *
(AvgFour - AvgFour\1\)/AvgFour\1\);
Download to import into Tradecision.
How to use this indicator in Tradecision:
The indicator will be added to the Custom Indicators list.
- Click Download.
- Save this indicator in a safe location on your hard drive.
- Open Tradecision and in the Tools menu click Indicator Builder.
- In the Indicator Builder dialog, click Import, locate the saved file and then click OK.