indicator · own pane · open source
Ease of Movement
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About
Ease of Movement measures how easily price moves per unit of volume — high EMV = price advancing on thin volume (weak trend), low EMV = price grinding on heavy volume (strong trend).
- Smooth it with
lento filter bar-to-bar noise. - Useful as a trend-quality filter alongside a directional indicator.
Source code
//@version=5
indicator("Ease of Movement", overlay=false)
len = input.int(14, "SMA length", minval=2, maxval=200)
dm = (high + low) / 2 - (high[1] + low[1]) / 2
br = volume / 100000000 / math.max(high - low, 0.0001)
emv = ta.sma(dm / br, len)
hline(0, "Zero", color=color.gray)
p_EMV = plot(emv, "EMV", color=color.blue, linewidth=2)
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