What is it? This is an indicator to complement @modhelius' Weis Wave Volume Indicator. Original code has been modified to display wave volume (cumulative) numbers above or below the latest candle of the corresponding wave on the main pane. Since we are concerned only with relative volume, VOLUME NUMBERS HAVE BEEN SCALED DOWN. (If you need actual volume numbers,...
Display volume totals of each wave of movement. With this you can generally determine when a trend is weakening by lesser relative wave volume in the trend direction whilst increasing volume in the reverse direction. You can also identify absorption based on high volume waves with less wave distance. Currently limited to around 50 wave counts per chart due to...
This is the same as but for dark backgrounds. Unfortunately, adding color choices for the numbers puts the script over the Tradingview 64 plot limit. Please read the notes for updates at the linked script above. Also, check out Be sure to watch the videos at both sites to understand how to use the scripts.