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Technical Studies Reference


Moving Average - Weight Volume Move-Adjusted

This study calculates and displays a Weight Volume Move-Adjusted Moving Average of the data specified by the Input Data Input. This moving average is taken from an article entitled "Weight + Volume + Move-Adjusted Moving Average: It's WEVOMO!" by Stephan Bisse in the April 2005 issue of Stocks & Commodities.

Let \(X\) be a random variable denoting the Input Data, and let the Input Length be denoted as \(n\). Then we denote the Moving Average - Weight Volume Move-Adjusted at Index \(t\) for the given Inputs as \(WEVOMO_t(X,n)\).

We compute \(WEVOMO_t(X,n)\) for \(t \geq n -1\) in terms of the Move-Adjusted Moving Average, the Volume-Weighted Moving Average, and the Weighted Moving Average. The Volume-Weighted Moving Average is denoted as \(VWMA_t(X,n)\) by Sierra Chart, but the aforementioned article denotes it as \(VOMO_t(X,n)\). The two moving averages are the same.

\(\displaystyle{WEVOMO_t(X,n) = \frac{MOMA_t(X,n) + VOMO_t(X,n) + WMA_t(X,n)}{3}}\)

Inputs

Spreadsheet

The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through File >> Open Spreadsheet.

Moving_Average_-_Weight_Volume_Move-Adjusted.470.scss


*Last modified Thursday, 02nd July, 2020.