Hi everyone, 

Here is an implementation of the Ease of Movement Value indicator/oscillator by Richard W. Arms Jr in a classic algorithm. It attempts to "ease" the price movement of an underlier by mixing momentum and volume information into one value. The output is mainly used by traders to assess the strength of a trend or to mitigate stop run risks (aka stop loss hunting). 

Here is the math behind EMV:

TH=Today's High, TL=Today's Low, YH=Yesterday's High, YL=Yesterday's Low, TVOL=Today's Volume




EMV reflects the change in volume when prices change. It is best used for mid to long term trends and performs poorly when used for short term trends. 

To finish, the creator of EMV believes that once an upward trend is formed, less volume can push prices up (EMV > 0). However, once a downward trend is formed, prices can experience a small or infinite decline (EMV < 0). During volatile markets where large swings in price are accompanied by large volume, EMV will be close to 0.

If you would like more information on Ease of Movement Value, here is a link to Investopedia: