Dual Volume Divergence Index Quantitative Qualitative Estimation [DW]

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © DonovanWall

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// ------------------------------------------------------------------------------------------------
// Original author:  DonovanWall
// Original title:   DVDIQQE [DW]
// Licence:          MPL-2.0 (the header above is the original notice, kept verbatim)
// Pine version:     4
// Fetched:          2026-10-12
// Ported to FloScript by FloSignals; modifications under MPL-2.0.
// Converter:        @flosignals/floscript 0.1.0, strict mode, score 100/100
// ------------------------------------------------------------------------------------------------
//@floscript=1
//@version=5
// Converted by the FloScript converter from a Pine-compatible v4 source.

indicator("Dual Volume Divergence Index Quantitative Qualitative Estimation [DW]", shorttitle="DVDIQQE [DW]", overlay=false)
//by Donovan Wall

//This is an experimental study inspired by the Quantitative Qualitative Estimation indicator designed to identify trend and wave activity.
//In this study, rather than using RSI for the calculation, the Dual Volume Divergence Index oscillator is utilized.
//First, the DVDI oscillator is calculated by taking the difference between PVI and its EMA, and NVI and its EMA, then taking the difference between the two results.
//Optional parameters for DVDI calculation are included within this script:
//  - An option to use tick volume rather than real volume for the volume source
//  - An option to use cumulative data, which sums the movements of the oscillator from the beginning to the end of TradingView's maximum window to give a more broad picture of market sentiment
//Next, two trailing levels are calculated using the average true range of the oscillator. The levels are then used to determine wave direction.
//Lastly, rather than using 0 as the center line, it is instead calculated by taking a cumulative average of the oscillator.

//Custom bar colors are included.

//Note: For charts that have no real volume component, use tick volume as the volume source.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Updates:

//Migrated from pine v2 to v3. Adjusted the equations accordingly.

//Changed default smoothing period to 6.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Updates:

// -> Migrated to v4.
// -> Updated DVDI function.
// -> Corrected NaN values to stabilize initial conditions.
// -> Added the option to choose between a static or dynamic center line. When the line is static, its value is 0.
// -> Reorganized script structure.
// -> Revamped color scheme.

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Functions
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//EMA Function
EMA(x, t) =>
    EMA = x
    EMA := na(EMA[1]) ? x : (x - nz(EMA[1])) * (2 / (t + 1)) + nz(EMA[1])
    EMA

//Dual Volume Divergence Index Function
DVDI(x, t1, t2, v_type) =>
    tick = syminfo.mintick
    rng = close - open
    tickrng = tick
    tickrng := math.abs(rng) < tick ? nz(tickrng[1]) : rng
    tickvol = math.abs(tickrng) / tick
    vol = v_type == "Default" ? (na(volume) ? tickvol : volume) : tickvol
    var PVI = 0.0
    PVI := vol > nz(vol[1]) ? PVI + (x - nz(x[1])) : PVI
    psig = EMA(PVI, t1)
    pdiv = EMA(PVI - psig, t2)
    var NVI = 0.0
    NVI := vol < nz(vol[1]) ? NVI - (x - nz(x[1])) : NVI
    nsig = EMA(NVI, t1)
    ndiv = EMA(NVI - nsig, t2)
    DVDI = pdiv - ndiv
    DVDI

//Trailing Level Function
tl(x, t, m) =>
    wper = t * 2 - 1
    rng = math.abs(x - x[1])
    avrng = EMA(rng, wper)
    smrng = EMA(avrng, wper) * m
    tl = x
    tl := na(tl[1]) ? x : x > nz(tl[1]) ? (x - smrng < nz(tl[1]) ? nz(tl[1]) : x - smrng) : x + smrng > nz(tl[1]) ? nz(tl[1]) : x + smrng
    tl

//Cumulative Average Function
cmean(x) =>
    var xsum = 0.0
    xsum := xsum + x
    var tsum = 0.0
    tsum := tsum + 1
    cmean = xsum / tsum
    cmean

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Inputs
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//Source
src = input(defval=close, title="Source")

//Sampling Periods
per = input.int(defval=13, minval=1, title="Sampling Period")
smper = input.int(defval=6, minval=1, title="Smoothing Period")

//Tick Volume Toggle
vol_type = input.string(defval="Default", options=["Default", "Tick"], title="Volume Type")

//DVDI ATR Multipliers
fmult = input.float(defval=2.618, minval=0, title="Fast Trailing Level Range Multiplier")
smult = input.float(defval=4.236, minval=0, title="Slow Trailing Level Range Multiplier")

//Center Line Type
center_type = input.string(defval="Dynamic", options=["Static", "Dynamic"], title="Center Line Type")

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Definitions
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//DVDI Oscillator
dvdi = DVDI(src, per, smper, vol_type)

//Trailing Levels
ftl = tl(dvdi, per, fmult)
stl = tl(dvdi, per, smult)

//Center Line
center = center_type == "Dynamic" ? cmean(dvdi) : 0

//Colors
dcolor = dvdi > ftl and dvdi > stl and dvdi > center ? #05ffa6 : dvdi < ftl and dvdi < stl and dvdi > center ? #00945f : dvdi < ftl and dvdi < stl and dvdi < center ? #ff0a70 : dvdi > ftl and dvdi > stl and dvdi < center ? #990040 : #cccccc
ccolor = center > center[1] ? #05ffa6 : center < center[1] ? #ff0a70 : #cccccc

//-----------------------------------------------------------------------------------------------------------------------------------------------------------------
//Outputs
//-----------------------------------------------------------------------------------------------------------------------------------------------------------------

//DVDI Oscillator Plot
dvdiplot = plot(dvdi, color=dcolor, linewidth=2, title="DVDI Oscillator")

//Trailing Level Plots
stlplot = plot(stl, color=color.white, style=plot.style_circles, title="Slow Trailing Level")
ftlplot = plot(ftl, color=color.gray, style=plot.style_circles, title="Fast Trailing Level")

//Center Line Plot
centerplot = plot(center, color=ccolor, title="Center Line")

//DVDI Fill
fill(dvdiplot, centerplot, color=color.new(dcolor, 80), title="DVDI Oscillator Fill")

//Trailing Levels Fill
fill(stlplot, ftlplot, color=color.new(color.orange, 70), title="Trailing Zone Fill")

//Bar Color
barcolor(dcolor)

This file is under the Mozilla Public License 2.0; it is a port of the original by DonovanWall, with the original licence header kept and the changes made for FloScript noted in the file.

• v22026-10-14

  Library refresh 2026-10-14

• v12026-10-12

  Library refresh 2026-10-12