Oscillator Finite Volume Elements (FVE) is an indicator of money flow movement.
It was developed by Markos Katsanos and presented in the Technical Analysis of Stocks & Commodities magazine in April, 2003.
Values above zero are bullish and indicate accumulating, while those below zero indicate distributing.
Divergences between the price and the indicator line may indicate a possible change in the trend.
The indicator has four configured parameters:
- FVE period – indicator calculation period
- FVE method – indicator calculation method
- Signal line period – signal line calculation period
- Signal line method – signal line calculation method
Calculation:
FVE = 100.0 * SMA(VE) / SMA(Vol) Signal = MA(FVE)
where:
VE = V * Volume MA - moving average with the signal line period and method SMA - simple moving average with the FVE period
where:
if MF > Cutoff, V = 1, if MF < -Cutoff V = -1
MF = Close - (High+Low) / 2.0 + High + Low + Close - PrevHigh - PrevLow - PrevClose
Cutoff= 0.1 * (Vintra+Vinter) * Close Vintra = StdDev(Intra) Vinter = StdDev(Inter)
Intra = LOG(High) - LOG(Low) Inter = LOG((High + Low + Close) / 3.0) - LOG((PrevHigh + PrevLow + PrevClose) / 3.0)
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