DepthHouse Volume Flow indicator is used to help determine trend direction strictly based on Negative and Positive volume data.

How to Read: 
– Moving Average crossovers are used to help determine a possible trend change or retracement.
– The area cloud on the bottom is calculated by the difference of the moving averages. This could be used to help determine the trending volume strength.
– Bright colored volume bars are large volume spikes calculated by the x factor in the options.

Other changes: 
– DepthHouse is going open source with numerous of its indicators. This is only one of many!
– Volume is now displayed without being altered for calculations.

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Source Code:

//@version=4
//DepthHouse Trading Indicators
// by oh92
study(“Volume Flow v3″, shorttitle=”Volume Flow [DepthHouse]”)

maType = input(title=”Moving Average Type”, options=[“Simple”, “Exponential”, “Double Exponential”], defval=”Simple”)
length = input(14, title=”MA Length”)
x = input(3.1, title=”Factor For Breakout Candle”)

//////////////////////////
// oh92 favorite colors //
//////////////////////////
red = #FF510D //#ff848a // #FA8072 // #323433 // #ff848a
green = #5AA650 // #8cffe5 // #6DC066 // #80aebd // #8cffe5

// Basic Volume Calcs //
vol = volume
bull = close>open?vol:0
bear = open>close?vol:0

// Double EMA Function //
dema(src, len) => (2 * ema(src, len) – ema(ema(src, len), len))

// BEAR Moving Average Calculation
bullma = maType == “Exponential” ? ema(bull, length) :
maType == “Double Exponential” ? dema(bull, length) :
sma(bull, length)

// BEAR Moving Average Calculation //
bearma = maType == “Exponential” ? ema(bear, length) :
maType == “Double Exponential” ? dema(bear, length) :
sma(bear, length)

// ma dif //
vf_dif = bullma-bearma
vf_absolute = vf_dif > 0 ? vf_dif : vf_dif * (-1)

// Volume Spikes //
gsig=crossover(bull, bullma*x)?vol:na
rsig=crossover(bear, bearma*x)?vol:na

// Color Calcs //
vdClr = vf_dif > 0 ? green : red
vClr=close>open?green:red

// Plots //
plot(vol, color=vClr, style=plot.style_columns, transp=80, title=”Volume”)
plot(bullma*2, color=green, linewidth=1, transp=0, title=”Bull MA”)
plot(bearma*2, color=red, linewidth=1, transp=0, title=”Bear MA”)

plot(gsig, style=plot.style_columns, transp=50, color=green, title=”Bull Vol Spike”)
plot(rsig, style=plot.style_columns, transp=50, color=red, title=”Bear Vol Spike”)

plot(vf_absolute/2.5, style=plot.style_area, color=vdClr, title=”Difference Value”)