Ticks Volume Indicator

Ticks Volume Indicator is a measure of upticks (trades at a price higher then the previous one) versus downticks (trades at a price lower than the previous one) within a given period. The final value is smoothed using the exponential moving averages (variables r, s & u). This indicator can be used to show the market sentiment, or to pinpoint the change in trend. A divergence between the indicator and the price data can also be treated as the signal.

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