This script identifies sudden changes in both volume and price.
You can set the sensitivities for both volume change and price change with respect to the moving averages.
There are four inputs in this script: the first two parameters indicate the length for moving averages of volume and price and the last two parameters indicate how much the volume change (e.g. 2 times) or the price change (e.g. 0.01; that is 1 percent of close price) should be.
great indicator, unfortunately unable to get labels to populate any suggestion ?
PipsOverPast
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@PipsOverPast, apologies found them would you have anything wrote for currency pairs ? Thanks in advance
identity92
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thanks, ill try it. I think setup could be modified only for volume or price, becuase price = f (volume), the greater volume, the greater price
UnknownUnicorn1746696
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@identity92, you are wrong in my opinion. Volume at a 1 min candle might be high (e.g., a whale buying another whale's hands) but price doesn't move at all. seen that case a lot and wanted to avoid that non signal.
identity92
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@kshafi, ye mb true - depends on dept of market. Mb good point to next analysis :)
dufc1983
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Great Potential for this indicator! Thank you for developing this!....So if i want to just check price spike only can i just put 0 in the other inputs for volume etc?
UnknownUnicorn1746696
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@dufc1983, it should work. but I have not tried it. The major reason for my choices are that I have a mobile alert active and every time price moves (with decent volume), I want to be notified. If the volume is not large, the noise to signal ratio will be too high in my opinion.
JO7719
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does it repaints
selcorp
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what time frame is this giving you the alert on? 5m, 15m, 1hr, day etc?
djbanana79
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Such a great indicator. Thank you. Do you know if there is a way to screen for stocks that show only stocks where this indicator is true? in other words, whenever it says 'action' on the candle whether it be on the weekly, daily, intraday chart, the screener would show all stocks that meet this criteria?