FVE - indicator for MetaTrader 5

Oscillator Finite Volume Elements (FVE) is an indicator of money flow movement.

It was developed by Markos Katsanos and presented in the Technical Analysis of Stocks & Commodities magazine in April, 2003.

Values above zero are bullish and indicate accumulating, while those below zero indicate distributing.

Divergences between the price and the indicator line may indicate a possible change in the trend.

The indicator has four configured parameters:

• FVE period - indicator calculation period
• FVE method - indicator calculation method
• Signal line period - signal line calculation period
• Signal line method - signal line calculation method

FVE = 100.0 * SMA(VE) / SMA(Vol)
Signal = MA(FVE)
 

VE = V * Volume
MA - moving average with the signal line period and method
SMA - simple moving average with the FVE period
 

if MF > Cutoff,
V = 1,
if MF < -Cutoff
V = -1
MF = Close - (High+Low) / 2.0 + High + Low + Close - PrevHigh - PrevLow - PrevClose
Cutoff= 0.1 * (Vintra+Vinter) * Close
Vintra = StdDev(Intra)
Vinter = StdDev(Inter)
Intra = LOG(High) - LOG(Low)
Inter = LOG((High + Low + Close) / 3.0) - LOG((PrevHigh + PrevLow + PrevClose) / 3.0)