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Period = Param("Period for FVE", 24, 5, 80, 1 ); Coeff = Param("Coeff for Cutoff", 0.1, 0, 2, 0.01 ); intra=log(H)-log(L); Vintra = StDev(intra, period ); inter = log(Avg)-log(Ref(Avg,-1)); Vinter = StDev(inter,period); Cutoff = Coeff * (Vinter+Vintra)*C; MF = C- (H+L)/2 + Avg - Ref( Avg, -1 ); VC = IIf( MF > Cutoff, V, IIf( MF < -Cutoff, -V, 0 )); FVE = 100 * Sum( VC, Period )/(MA( V, Period ) * Period ); Plot( FVE, "Modified FVE", colorYellow, styleThick ); // volatility color-coded volume bars: BarColor = IIf( MF > Cutoff, colorGreen, /* up volume */ IIf( MF < -Cutoff, colorRed, /* down volume */ colorBlue /*otherwise*/ )); Plot( Volume, "Volume", BarColor, styleHistogram | styleThick | styleOwnScale ); /* Trading system */ SetTradeDelays(0,0,0,0); PositionSize = 10000; // fixed position size - remove to enable compounding RoundLotSize = 10; BuyPrice = Close; SellPrice = Close; RAD_TO_DEG = 180/3.1415926; // radians to degrees LinRegAngleFVE = RAD_TO_DEG * atan( LinRegSlope( FVE, 20 ) ); Buy = FVE < 10 AND FVE > -20 AND LinRegAngleFVE > 30 AND FVE > EMA( FVE, 40 ) AND LinRegSlope( C, 30 ) < Ref(C, -30 ) *0.6/100 AND LinRegSlope( C, 30 ) > -Ref( C, -30 ) * 0.3/100; Sell = LinRegAngleFVE < -30;