I thought it was better to open a thread for this indi instead of leaving the request and possibly the indi hidden inside the thread for another indicator. (it was inside this thread viewtopic.php?f=38&t=67194)
It is based on the effective volume indi.
Effective Ratio
In his book, Pascal defines the Effective Ratio as the total Effective Volume by Large Players divided by the total volume. This results in the percentage of volume that was accumulated or distributed by large players in a specific stock.
It is the Large Players Effective Volume divided by the total volume. So you take only the LEV output from the indi (do not include the small players EV).
Effective Ratio = EMA(250)( LEV(i) / Volume(i) ) M1 charts
250 = one day
You can have two versions of the Effective Volume Ratio.
The Large Effective Volume Ratio and the Total Effective Volume Ratio (which is the sum of large and small EV).
The LEV Ratio is used for buying.
The Total EV Ratio is used for shorting or exiting long position.