Elastic Volume Weighted Moving Average

// Copyright (c) 2018-present, Alex Orekhov (everget)
// Elastic Volume Weighted Moving Average script may be freely distributed under the MIT license.
// ------------------------------------------------------------------------------------------------
// Original author:  everget
// Original title:   Elastic Volume Weighted Moving Average
// Licence:          MIT (the header above is the original notice, kept verbatim)
// Pine version:     3
// 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 v3 source.
indicator("Elastic Volume Weighted Moving Average", shorttitle="EVWMA", overlay=true)

length = input.int(title="Length", defval=14)
highlightMovements = input.bool(title="Highlight Movements ?", defval=true)
src = input.source(title="Source", defval=close)

volumeSum = math.sum(volume, length)

evwma = 0.0
evwma := ((volumeSum - volume) * nz(evwma[1]) + volume * src) / volumeSum

evwmaColor = highlightMovements ? (evwma > evwma[1] ? color.green : color.red) : #6d1e7f
plot(evwma, title="EVWMA", linewidth=2, color=color.new(evwmaColor, 0))

This file is under the MIT License; it is a port of the original by everget, 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