TVI 2 indicator for price reversals
TVI 2 indicator - is a modification of the Tick Volume Indicator made by users of the forexsystemsru.com forum, which divides the price ticks up and down in each price bar. The obtained arrays are smoothed by two passes of the EMA with periods r and s, as well as by an additional smoothing of the EMA with period u.
The TVI 2 indicator differs from the basic indicator in that it crosses two tools with different parameters. The indicator is presented in two forms:
- in a linear form (the indicator is finalized by user eevviill);
- in the form of a histogram (modification of the user Poruchik).
As you can see from the screenshot, the TVI 2 indicator peaks and troughs correspond to price peaks and troughs on the chart, and the crossing of the lines and the color change of the histogram can be used as a signal to enter.
TVI 2 indicator looks interesting enough. It makes sense to check the workout divergencesFor this purpose it will be very convenient to use the histogram version of the indicator. In addition, it is worth paying attention to the price behavior when the indicator crosses the zero level.
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