This indicator "Trended CVD" categorizes price movement by trend (using zig zag) and calculates cumulative volume delta for the entirety of the price move.
Features
CVD calculated for the trend
CVD divergences are distinguished (uptrend and falling CVD / downtrend and rising CVD)
CVD output normalized to scale with chart, and is plotted alongside the trend
Can be used for trend confirmation (CVD trend correlating with price trend)
All regular zig-zag features available
What constitutes a trend is customizable. Can locate small, medium, large price trends with detailed user-input settings.
How-To Use Trended CVD
The image above shows one of two primary uses for the indicator.
In the left-half of the image, price is downtrending simultaneously with CVD; thereby, CVD is confirming the downtrend.
The right-half of the image shows price uptrending simultaneously with CVD; CVD is confirming the uptrend.
This information can be used to classify the "strength" of the price move, and decide to trade with it or against it.
The image above shows the second primary use for the indicator.
A slight price decrease transpires while CVD increases - CVD diverging upwards from the price trend.
This information can be used to classify the strength of the downtrend, and decide to trade against it, or abstain from trading with it.
The image above shows, subsequent to divergence, price failed to sustain "meaningful" downwards movement.
Labels oriented at the final pivot of a trend show the cumulative volume delta for the entirety of the price move (distinguishable by the superimposed zig zag line).
That's really it! A more complex concept integrated with a simple output.
this indicator is really helpful thank you very much , can you create a zigzag cumulative delta it would be mind-blowing
sevencampbell
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CVD can be green for 10 hours and then suddenly repaint red... how is that useful?
ankitkumar22
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Repaint Indicator... Thank you for your efforts
MXWLL-Capital-Trading
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@ankitkumar22, Hey ankitkumar22! In a live market, this indicator reflects a dynamic recalculation rather than a misleading alteration of historical data. When new/live data is appended to CVD historical values are renormalized to show accurate curvature and trend. That said, if the indicator *did not* dynamically recalculate, plausibly, you'd see peaks and bottoms in the CVD line that do not correspond to the correct highest/lowest point of the CVD, which *would* present an inaccurate representation of live CVD fluctuations.
The output for CVD is normalized so the line can be drawn atop price (superimposed on the underlying price trend), with proportional peaks and troughs. Should the indicator have it's own price scale than dynamic recalculations wouldn't be necessary. There's no ulterior motive or nefarious alteration of historical values going on (;