indicator · own pane · open source
Ease of Movement Smoothed
Running…
Loading chart…
About
Ease of Movement Smoothed — a smoothed version of the classic EMV, dividing the mid-price move by volume-normalised range. Smoothed with an SMA so zero-line crosses are clean signals.
- Above 0 = price moving up on low effort (bullish).
- Below 0 = price falling on low effort (bearish).
Source code
//@version=5
indicator("Ease of Movement Smoothed", overlay=false)
len = input.int(14, "Smoothing length", minval=5, maxval=100)
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.teal, linewidth=2)
alertcondition(ta.crossover(emv, 0), "EMV up", "Ease of movement crossed above zero")
alertcondition(ta.crossunder(emv, 0), "EMV down", "Ease of movement crossed below zero")
No comments yet.
Sign in to comment.