Time Segmented Volume with Adjustable Price and Volume Weighting

Summary

This document describes an enhanced Time Segmented Volume (TSV) indicator based on the Worden Brothers version. It allows the input price to be selected instead of always using closing price, and offers alternative volume weighting, including true-range-based pseudo-volume or no volume weighting.

The indicator displays both a simple moving average and an exponential moving average of TSV; the latter is described as more responsive. The document explains the available customization options but gives no trading rules, performance evidence, or empirical comparison. It also notes that the implementation is designed to compile in both MQL4 and MQL5. As an indicator description, it does not establish that any setting improves signals or results.

Key ideas

• TSV can be calculated using a selected price input rather than only the close.
• Volume weighting can use conventional volume, true-range-based pseudo-volume, or no weighting.
• The indicator displays simple and exponential moving averages of TSV.
• The document provides feature details but no tests of predictive value or trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.