Float Trader Indicator

Category: volume, market_structure

An analysis tool that tracks cumulative volume between high and low swings within a lookback period to identify trend exhaustion and support/resistance levels.

Formula

\text{CumulativeV} = \sum_{i=cvstart}^{0} \text{Volume}_i \text{ (resets when } \geq \text{FLOATV}) \\ \text{FLOATV} = \sum_{i=cvstart}^{cvend} \text{Volume}_i \text{ where } cvstart, cvend \in \{\text{Lowest Low, Highest High}\} \text{ in } N \text{ bars}

Inputs

• Float (default: 200)
• ObjectPrefix (default: FI-)
• DisableDinapoli (default: false)
• DisableFibonacci (default: false)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.