FVE
FVE returns the Finite Volume Element.

This is an adaption from wsbron of the FVE found at: http://www.traders.com/Documentation/FEEDbk_docs/Archive/042003/TradersTips/TradersTips.html

In a "Detecting Breakouts" article, Markos Katsanos introduces a new money flow indicator called the FVE (finite volume elements) that combines volume with intra- and interday price action. Says Katsanos. "Most technical analysts underestimate volume indicators in favor of pricebased indicators or price pattern recognition. Volume often leads price, and volume indicators can predict this price change by observing the delicate balance of supply and demand in the never-ending battle between buyers and sellers, bulls and bears. To help analyze crowd psychology and profit from subsequent price moves, I created the finite volume elements (FVE) indicator."

Example:

'FVE S&C Apr 03 p91

Sub Main()

Period=22

MF=Divide(Add(GetHigh, GetLow),2)

MF=Substract(GetClose,MF)

TypPrice=Divide(Add(Add(GetHigh, GetLow),GetClose),3)

For I=2 to Last

MF(I)= MF(I)+TypPrice(I)-TypPrice(I-1)

Next

For I=Period+1 to Last

SumVol=0

For J=I-Period +1 to I

If MF(J)>(0.3*Close(J)/100) then

SumVol=SumVol+(Volume(J)/1000)

ElseIF MF(J)<(-0.3*Close(J)/100) then

SumVol=SumVol-(Volume(J)/1000)

End If

Next

SetValue I, SumVol

Next

End Sub