Custom PCF Cumulative Indicator

The custom PCF cumulative indicator allows you to plot a cumulative value where based on up or down conditions a value is either added or subtracted from the running total, if neither the up or down condition is met the value remains the same.

To add a custom PCF cumulative indicator to your chart click the add plot button

You can also press the forward slash "/" key to open the add plot menu

Select Custom PCF Cumulative Indicator from the list of available indicators

This will plot the indicator on your chart and open the editor for that indicator

The default settings for this indicator returns results very similar to On Balance Volume (OBV). If Close "C" is greater than the Previous Close "C1" then add the Volume value. If Close is less than the previous Close then subtract the Volume value. A running total is then created over time. See the example below

Price Bar Is C>C1 Is C<C1 Volume Cumulative total
BAR 1 True False 1M 1M
BAR 2 True
1.3M 2.3M
BAR 3 False
1.2M 1.1M
BAR 4 False False
3M 1.1M
BAR 5 True
2M 3.1M

Note that on BAR 4 both the conditions returned false implying that C=C1 therefore the cumulative total was not changed

For more information on creating PCF indicators please visit our PCF help index