High Volume AlertThe High Volume Alert Script is developed for all traders focusing on volume analysis in their trading strategies, providing alerts for unusually high trading volumes during specified trading sessions.
Functionality:
Volume Moving Average Calculation:
Average Volume = Moving Average(Volume) = Sum of last the x last candles Volume
Where n is the user-defined period for the moving average calculation (denoted as movingaverageinput in the script. This moving average serves as the baseline to compare current volume levels against historical averages.
High Volume Detection:
HighVolume = CurrentVolume >= (MA(Volume) x HighVolumeRatio)
Here, HighVolumeRatio is a user-defined multiplier that sets the threshold for what is considered high volume. If the current volume exceeds this threshold (the product of the moving average of volume and the HighVolumeRatio ), the script identifies this as a high-volume event.
Session Filtering:
The script further refines these alerts by ensuring they only trigger during the specified trading session, enhancing relevance for traders interested in specific market hours. This session is defined by the sess and timezone parameters.
Visualisation and Alerts:
If high volume is detected (HighVolume = True), the script colors the volume bar with the highVolumeColor . If the option is selected, it also changes the color of the candlestick to either highVolumeCandleColorUp (for bullish candles) or highVolumeCandleColorDown (for bearish candles), depending on the price movement within the high-volume period. An alert is generated through the alertcondition function when high volume is detected during the specified session, notifying the trader of potentially significant market activity.
Application in Trading:
This indicator serves traders who prioritize volume as a leading indicator of potential price movement. High trading volumes may indicate the presence of significant market activity, often associated with events like news releases, market openings, or large trades, which can precede price movements.
Originality and Practicality:
This script is self-developed, aiming to fill the gap in automatic ratio adjusted volume alerts within the TradingView environment.
Conclusion:
The High Volume Alert Script is an essential tool for traders who integrate volume analysis into their strategy, offering tailored alerts and visual cues for high volume periods.
Compliance and Limitations:
The script complies with TradingView scripting standards, ensuring no lookahead bias and maintaining real-time data integrity. However, its utility depends on the availability on volume data, and please be aware that forex pairs never offer real volume data, this tool is best used with a exchange traded symbol.
出来高インジケーター
Volume Breakout [Afnan]Introducing the Relative Volume / Volume Breakout Multiplier (RVI) , RVI is specifically designed for traders who incorporate volume breakout analysis into their trading strategies, particularly breakout traders.
This indicator provides a unique perspective on volume dynamics by quantifying the extent of volume breakouts in relation to the Simple Moving Average (SMA). It offers an upgraded version of the default volume indicator on TradingView, with the added feature of Relative Volume.
For example, if the volume SMA is 100M and the current volume is 200M, the indicator will return a breakout number of 2.0, indicating that the current volume is twice that of the volume SMA. Conversely, if the volume SMA is 100M and the current volume is 50M, the indicator will return a value of 0.50, indicating that the current volume is half of the volume SMA.
This tool can be a very helpful for breakout traders, helping them identify potential trading opportunities and assess volume strength more effectively. this indicator is a must-have in the toolkit of any trader who focuses on volume breakout analysis.
Remember, every tool we use, every analysis we perform, is a step towards becoming better traders. So, let’s embrace this journey of continuous learning and improvement together. As the saying goes, “The only limit to our realization of tomorrow will be our doubts of today." Let’s step into the future with confidence, armed with the right tools and the right mindset.
Lastly, a big thank you for your support, your likes, and your comments. They mean a lot! If you have any questions, feel free to ask. Together, let’s make trading a rewarding experience!
Deep Volume [ChartPrime]Deep Volume is an indicator designed to give you high fidelity volume information. It does this by utilizing real time data provided by Tradingview to generate a wide range of metrics. We have included a convenient column chart to visualize the polarity of the volume, and a table to see the real time data. This works by utilizing pine script's varip feature to get information within candles. This is convenient as it allows users to get lower time frame information without the use of ltf functions. The result is seconds level data with out the need to be on a lower time frame chart. As a result, as you increase the time frame of the chart the updates will become slower. This is because Tradingview doesn't update the chart information as frequently on higher time frames as there isn't as much of a need.
This indicator works on real time data so to compensate for this we generate a simulated history based on candle structure. This helps in estimating the state of the moving average before the real time data starts. As a result the estimated history isn't as accurate and should be treated as such. That being said it is nice to have an estimation when the indicator is first loaded onto the chart.
Finally we have included a cumulative volume comparison that shows you how much volume there is compared to the average cumulative volume for the day. This metric utilizes a gradient to help you interpret the information at a glance. Low daily volume is represented with grays by default, while normal volume and greater is represented with a green color by default.
The table is partitioned into two sections; tick data, and average data. On the left you will see color coded information based on the direction of the move. On the left, the information is color coded based on the average movement direction. You can control how much information is displayed in the table within the indicators settings. This is defaulted to 20 but it can be as long or short as you like. Every new candle open the far left of the table you will see a 🗘 symbol and at the start of a new session you will see a 🗓 symbol.
The included metrics are as follows:
Time: This displays the time of the real time data update.
Time Delta: This displays the elapsed time between updates.
Order Size: This is the volume times the price change between updates.
Volume: This is the volume change for the update.
Price Change: This is the change in price since the last update.
Price: This is the price of the asset at the time of the update.
Speed of Tape: This is the average time delta. Use this to see how quickly the market is moving.
Average Order Size: This is the average order size.
Average Volume: This is the average volume
Volume Ratio: This the the ratio of bullish to bearish volume as expressed by a percent. 100% is all bullish within the window and -100% is all bearish within the window.
Average Price Change: This is the average price change within the window.
Sensitivity: This is a volatility metric designed to show you the price change per 1 volume unit.
Relative Sensitivity: This is a volatility metric designed to show you the average price change per average volume.
Enjoy
Multi-Day Rolling VWAP [Intraday]Ideas from Brian Shannon's book "Anchored VWAP"
The Multi-Day Rolling VWAP indicator for intraday timeframes allows you to track the Volume Weighted Average Price (VWAP) over multiple days, specifically for 1-day, 2-day, 3-day, 4-day, and 5-day periods. This indicator beyond the standard daily VWAP provides a broader perspective on price trends and market sentiment.
Features:
- Multi-day VWAPs: Analyze VWAP over several days to observe longer-term price movements.
- Customizable display: Choose which VWAP periods to display on the chart
- Colorize: Choose different colors for each VWAP to easily distinguish between periods.
- Adjustable settings: Change the line thickness and select the price source for VWAP calculations.
- Works with Replay Mode
- Works in any intraday timeframe on any asset with volume and price
Benefits:
- Trend identification: Compare current prices with multi-day rolling VWAPs to spot trends.
- Spot reversals: Look for potential price reversals or support when prices cross VWAP lines.
Cumulative Volume Delta (CVD)█ OVERVIEW
Cumulative Volume Delta (CVD) is a volume-based trading indicator that provides a visual representation of market buying and selling pressure by calculating the difference in traded volumes between the two sides. It uses intrabar information to obtain more precise volume delta information than methods using only the chart's timeframe.
Volume delta is the net difference between Buy Volume and Sell Volume. Positive volume delta indicates that buy volume is more than sell volume, and opposite. So Cumulative Volume Delta (CVD) is a running total/cumulation of volume delta values, where positive VD gets added to the sum and negative VD gets subtracted from the sum.
I found simple and fast solution how to calculate CVD, so made plain and concise code, here is CVD function :
cvd(_c, _o, _v) =>
var tcvd = 0.0, delta = 0.0
posV = 0.0, negV = 0.0
totUV = 0.0, totDV = 0.0
switch
_c > _o => posV += _v
_c < _o => negV -= _v
_c > nz(_c ) => posV += _v
_c < nz(_c ) => negV -= _v
nz(posV ) > 0 => posV += _v
nz(negV ) < 0 => negV -= _v
totUV += posV
totDV += negV
delta := totUV + totDV
cvd = tcvd + delta
tcvd += delta
cvd
where _c, _o, _v are close, open and volume of intrabar much lower timeframe.
Indicator uses intrabar information to obtain more precise volume delta information than methods using only the chart's timeframe.
Intrabar precision calculation depends on the chart's timeframe:
CVD is good to use together with open interest, volume and price change.
For example if CVD is rising and price makes good move up in short period and volume is rising and open interest makes good move up in short period and before was flat market it is show big chance to pump.
Footprint liteFootprint Lite enables you to monitor volume distribution for the current ticker, offering resolutions as 1 second, segmented by specified price levels with visual representations. Additionally, you have the flexibility to customize the displayed Imbalance price level and the number of consecutive Imbalance level lines.
Here are the input options:
Group Display:
This section allows you to adjust how Footprints are displayed.
"Count show bars": Directly adjusts the display to show the last 'n' bars.
"Display all available bars": Shows all available bars.
Group Row size:
Adjusts the parameters for generating Footprints based on price step size.
"Ticks Per Row": Directly sets the price step, calculated by multiplying the entered value by syminfo.mintick.
"Auto": Enables automatic mode for selecting the "Ticks Per Row" value.
"Max row": Relevant for auto mode, it sets the acceptable number of rows within a bar. The automatic "Ticks Per Row" calculation is based on the first available bar and applied to subsequent bars.
Group Imbalance:
Customizes the display of price levels represented by Imbalance and emphasizes consecutive lines.
"Imbalance Percent": A coefficient expressed as a percentage to determine the Imbalance of price levels, comparing the buy price diagonally to the previous sell price.
"Stacked levels": Sets the minimum number of consecutive Imbalance levels required to draw extended lines.
Alerts:
You can set alerts for various events:
"New imbalance line sell": Alerts on the appearance of a new imbalance line for selling.
"New imbalance line buy": Alerts on the appearance of a new imbalance line for buying.
"Stop past imbalance line sell": Alerts when the previous imbalance line for selling stops, indicating it has reached the range from low to high of the current bar.
"Stop past imbalance line buy": Alerts when the previous imbalance line for buying stops, indicating it is within the range from low to high of the current bar.
"New imbalance buy": Alerts on the appearance of a new or change in the current imbalance level for buying.
"New imbalance sell": Alerts on the appearance of a new or change in the current imbalance level for selling.
Open Liquidity Heatmap [BigBeluga]Open Liquidity Heatmap is an indicator designed to display accumulated resting liquidity on the chart.
Unlike any other liquidity heatmap, this aims to accumulate liquidity at specific levels that build up over time, showing larger areas of liquidity.
🔶 FEATURES
The indicator includes the following settings:
Lookback : Used to determine the range calculation of the heatmap.
Leverage : Leverage of the liquidation (Counted as % in price, Example: 4.5 will return a distance from price of 4.5%, indicating any possible resting liquidity in this range).
Levels : Amount of levels to display (Each level is counted as liquidity resting on the chart; fewer levels will return a bigger area of liquidity sitting on the chart).
Mode : Apply a color gradient from the minimum liquidation to the maximum liquidity level. Set the maximum color gradient value (Counted as volume).
Offset : Automatically determine the offset range of the Volume Profiles. Manual offset of the Volume Profiles.
🔶 CALCULATION
for i = 0 to step - 1
float plotter = na
switch i
0 =>
plotter := hs
=>
plotter := hs - diff * ( i )
cls.hm.gnL(plotter)
cls.vp.put(plotter, 0)
We calculate levels like a normal volume profile with steps, from the highest point within the lookback to the lowest one. Each level will contain the corresponding amount of volume that the candle has closed in that range.
As we can see in the image above, we add liquidity each time the distance in % from price is between two levels.
Unlike many liquidity indicators that provide a single candle liquidity heatmap, this aims to add up liquidity (volume) in already present levels.
This can be extremely useful to see which levels are likely to be more liquid and tend to get a bigger reaction to the price.
Imagine it like a range of levels that each time price revisits that area, a new position area is added; we add volume in that area each time price visits that zone. Liquidity builds up in those zones, causing a bigger reaction to the price once the price visits it.
This indicator is not the same as a single candle heatmap like many others. What is a single candle heatmap?
A single candle heatmap is when a level is created on every new candle, coloring the level based on the total volume of it.
This indicator, on the contrary, aims to provide a more specific use by adding up liquidity each time price visits it.
🔶 BASIC DEMOSTRATION
This is a basic demonstration of how we can spot high liquidity points overall using confluence:
We see the POC of the liquidation in a low volume area of the normal volume profile adding up as confluence.
Resistance from the POC Volume Profile suggesting price will go lower.
Major long open liquidity down.
As we can see, price takes out all the long liquidity and right after pumping, indicating that all the major liquidity got taken out.
Some key note to take is that a POC in the liquidation heatmap in a low volume area of the normal Volume Profile add confluence of a possible big reaction in that zone.
In the forex market, we suggest to use a low distance from price (Leverage) while in a crypto market you can use the one that fit the best the current timeframe.
🔶 CONCLUSION
This indicator aims to show open resting liquidity that had built up over time, showing the most amount of liquidation in specific areas in an aggregated way unlike many liquidation heatmap indicators that show single-level liquidation.
🔶 RELATED SCRIPT
Volume inspectorThe "Volume inspector" is designed to provide a deep dive into the volume dynamics within a given larger timeframe by dissecting the positive and negative volume of candles from a lower timeframe. This analysis helps in understanding how the volume within a single candle is composed, whether it leans towards buying or selling pressure. The indicator sums up the positive and negative volumes to present the net volume in columns, offering a clear visual representation of the market's buying or selling intensity at a glance.
Additionally, it features an area between two Exponential Moving Averages (EMAs) to gauge the prevailing trend direction. A green spread between the EMAs signals strong buying pressure, with the width of the area indicating the strength of this pressure. Conversely, a red area points to selling pressure, warning users to exercise caution — it advises against buying the asset when the spread is narrow or red, suggesting weak buying momentum or strong selling momentum.
The tool recommends using daily candles as the primary timeframe for a broad market overview, with the following configurations for the lower timeframe analysis:
5 minutes for highly liquid and voluminous assets,
15 or 30 minutes for assets with lower volume to ensure accuracy without excessive market noise.
It's important to note that this indicator does not predict future market movements but rather analyzes the current behavior of the asset, making it a valuable tool for traders looking to understand immediate market sentiment and trend strength.
Volume Flow Oscillator (VFO)I created the Volume Flow Oscillator (VFO) to explore the intricate interplay between volume and price movements over a specific lookback period. This tool contrasts volumes that move in sync with the price against those that move in opposition, signaling potential overbought or oversold territories. To determine the direction, I compare the current price to its value four periods back, shedding light on underlying bullish or bearish momentum. The VFO enriches my analysis and decision-making by offering a detailed perspective on how volume trends correlate with price changes. Its color-coded visuals are crucial for highlighting optimal trading points based on volume dynamics.
Supertrend Volume OscillatorThe Supertrend Volume Oscillator is an innovative tool that integrates volume analysis with the established Supertrend indicator to offer a unique perspective on market conditions. By comparing directional volume against the aggregate volume over a designated lookback period, this oscillator adeptly signals overbought and oversold states through a volume-weighted methodology. Key settings such as the lookback period, Supertrend factor, and ATR period are adjustable, allowing traders to tailor the trend detection sensitivity to their preference.
Crucially, the oscillator delineates overbought and oversold zones via a channel parameter, with its value represented as a percentage ratio of directional to total volume, visually enhanced by a color gradient shifting from red to green based on oscillator readings. Background coloring further highlights market extremes for easy identification. A continuous line tracks the oscillator's value, anchored by a horizontal zero line as a neutral benchmark.
Additionally, the oscillator is equipped with alert conditions that notify traders when entering critical zones, facilitating informed trading decisions. This fusion of price trend analysis with volume metrics provides traders with a comprehensive tool for gauging market sentiment and trend strength, making the Supertrend Volume Oscillator a valuable addition to any trader's arsenal.
SMA Custom Volume BandsThe "SMA Custom Volume Bands" indicator is a custom technical analysis tool designed for use on the TradingView platform. This indicator allows users to analyze and visualize key aspects of a stock's volume within the context of its 200-period Simple Moving Average (SMA). It features the following components:
Volume Bars: The indicator displays the volume of a selected financial instrument using colored bars. Green bars represent days when the trading volume is higher than the previous day, while red bars represent days when the trading volume is lower.
200 SMA of Volume: A blue line on the chart represents the 200-period Simple Moving Average of the trading volume, providing insight into the longer-term volume trend.
Customizable Percentage Line: Users have the flexibility to set a custom percentage value above or below the 200 SMA of trading volume. This line is plotted as a blue line on the chart, allowing traders to identify when volume meets their preferred percentage threshold.
The "SMA Custom Volume Bands" indicator is a simple tool for traders, aiding in the assessment of volume trends and potential price reversals in the context of moving averages. It offers customization options, enhancing its adaptability to individual trading strategies and preferences.
Intraday volume pressureThis indicator shows the difference of bullish and bearish trading volume during intraday
The idea
Especially in "6E1!" it caught my eye, that often outside regular trading hours the price moves in one direction with thin volume and inside regular trading hours it moves back with much higher volume. It is possible, that the market closes e.g. with a plus. And over some days maybe you can see e.g. weak rising prices. But in this time the movements with high volume are going down every day. And one day - maybe within view minutes - the market rushs a level deeper.
Maybe some are manipulating the market in this way, maybe not, it doesn't matter. So my question was, can I find a way to show such divergences? I guess I can do.
How to use this indicator
Use it at your own risk! I don't take over any responsibility. You are the only one, who is responsible for your decisions. Always collect information from different independent sources!
Watch it in the daily chart - not intraday, not weekly! Of course this indicator just analyzes the past as all indicators. Everytime everything may happen that influences the market in any direction, no indicator can predict any news.
Watch it in sideways market or when the price is moving quite slow over days! An average volume pressure
below zero shows a volume-driven bearish pressure
above zero shows a volume-driven bullish pressure
of the last days. So there is a chance, that the market may follow the volume pressure within the next days. But of course, I cannot guarantee anything. The indicator just can give you an idea, why this will happen, when it will happens. Otherwise, the indicator indicated nothing helpfull.
Of course you also can try other securities. Maybe it will work there better or worse - difficult to say. I guess, it depends on the market.
Possible settings aside of colors
Intraday minute bars: Default is 15 minutes, in 6E in my point of view it is a good value. If you choose a smaller value, the chart gets too noisy, the results are getting too small. With a bigger timeframe some moves are hidden in bigger candles, the results are getting a large spread
Average over days: Default is 5 days - so one week. In 6E in my point of view it is a good value. A smaller value is too noisy. A bigger value reacts too slow. Often 6E has a trend over weeks. Sometimes it changes within some days - the indicator may help. But sometimes the market changes with a buying or selling climax. Such a case this indicator cannot recognize. But with the 5 days average maybe you get a change in the indicator within one or two days. Anyway, it is always a good idea to learn recognizing climaxes otherwise.
How the indicator works
It uses the function request.security_lower_tf to get the intraday candles. The volume of intraday up-candles is added to the intraday summary volume. The volume of down candles is substracted from the intraday summary volume.
In the oscillator area I plot a green bar on a day with a higher close than open and a red bar on a day with a lower close than open. The bar has a positive value, if the volume pressure is positive and a negative value if the volume pressure is negative. So it happens, that a green bar has a negative value or a red bar has a positive value.
The average is calculated with a floating sum. Once we have enough days calculated, I devide the floating sum by the length of the "Average over days" and plot the result. Then I substract the first value of the queue and I remove it.
Highest Volume Bar from a Lower TimeframeVolume is an essential indicator in technical analysis as it can signal confirmations of movement, reversals, and more. This indicator was developed to identify candles with high volume in both the current timeframe and a lower timeframe
SETTINGS
The indicator has two display modes: Candles and Volume.
- Candles: it presents a traditional candlestick chart that shows the candles of the current timeframe, along with the candle with the highest volume from the lower timeframe.
- Volume: it features a volume chart displaying the volume of the current timeframe in histogram form, as well as the bar with the highest volume from the lower timeframe represented in columns.
LOWER TIME FRAME SETTINGS
- Lower Time Frame: the lower timeframe to be taken into consideration.
- LTF Candle Display: determines which candles from the current timeframe chart will display the candles with the highest volume from the lower timeframe.
- Volume Display: determines how the volume bars will be presented for both the current timeframe and the lower timeframe.
VOLUME LEVEL SETTINGS
- SMA Period: the time period for calculating the volume average.
- High Volume: the multiplier used to classify a candle as having high volume.
- Medium Volume: the multiplier used to classify a candle as having medium volume.
- Low Volume: the multiplier used to classify a candle as having low volume.
- Show Volume MA: enable this option to display the Volume MA on the chart.
COLOR SETTINGS
- Candle Color: the color to be used in the charts.
- Shade Intensity : the intensity of the shades for volume levels.
- Transparency : the transparency to be used for the candles of the current timeframe when displaying candles with higher volume from the lower timeframe.
Cumulative Volume Price (Candle Body, High-Low)Indicator Description: Cumulative Volume Price (Candle Body, High Low)
This indicator features three cumulative plots that continuously accumulate values over time.
Cumulative Volume Plot:
The first plot displays the cumulative volume, calculated by continuously adding the volume values from zero.
Cumulative Candle Body Width Plot:
The second plot displays the cumulative width of the candle bodies, obtained by continuously adding the actual body widths from zero.
Cumulative Candle High-Low Width Plot:
The third plot displays the cumulative width of the candle high-low ranges, calculated by continuously adding the widths between the high and low prices from zero.
Usage Guidelines:
Due to the different orders of magnitude in value range used for volume and candlesticks, it is advisable to typically select and display any single plot.
説明
このインジケーターは、時間の経過とともに値を累積し続ける3つのプロットを備えています。
累積ボリューム:
ボリュームの値をゼロから累積的に加算しています。
ローソク足の累積実体幅:
ローソク足の実体幅の値をゼロから累積的に加算しています。
ローソク足の累積高安幅:
ローソク足の高安の幅の値をゼロから累積的に表示しています。
使用ガイドライン:
ボリュームとローソク足で使用する数値のオーダーが異なるため、通常は任意の一本を選択して表示することを想定しています。
Dollar Volume Last 20 CandlesThe "Dollar Volume Last 20 Candles" indicator, abbreviated as "DV", is a practical and insightful tool for traders and analysts.
This indicator focuses on enhancing the visualization of trading data by calculating and displaying the dollar volume for each of the last 20 bars on a financial chart. It achieves this by multiplying the closing price of each bar with its trading volume, providing a clear dollar value of the trading activity.
The script also features an intuitive formatting system that simplifies large numbers into 'k' (thousands) and 'M' (millions), making the data easily digestible.
The dollar volume data is displayed directly above each bar, adjusted for visibility using the Average True Range (ATR), ensuring that it is both unobtrusive and readily accessible. This overlay feature integrates seamlessly with the existing chart, offering traders a quick and efficient way to assess monetary trading volume at a glance, which is particularly useful for identifying trends and market strength.
Split VolumeThe Split Volume indicator displays 'Upwards' and 'Downwards' volume with an additional method for distributing 'split' candle volume.
A 'split' candle is a candle whose direction is...'Split'...since the open and close are equal. (Ex. Doji)
Upwards and Downwards Volume is tracked by comparing the Open and Closes of the Lower Timeframes.
If the Close is Greater-than the Open, we track the Volume as 'Upwards' Volume.
If the Close is Less-than the Open, we track the Volume as 'Downwards' Volume.
If the Close and Open are Equal, we assume that the Volume is an even split 50/50, and track it as such.
The indicator pulls data from lower timeframes to achieve more granular Open,Close,& Volume Data
Specifically:
<5m Timeframe: 1 Second LTF
<60m Timeframe: 5 Second LTF
<1D Timeframe: 1 Minute LTF
>1D Timeframe: 60m LTF
We have also included some nice-to-have features
50% Volume Line: This line splits each columns in half, this is used as quick reference to see exactly which side the volume is on.
High Volume Candle Identification: We are detecting bars with high relative volume and coloring them on the upper chart for use as important zones.
Status Line Readouts: The Status line for this indicator is formatted for simple reading. It Reads(Left-to-Right):Total Volume, Downwards Volume, 50% Value, Upwards Volume
Saty Volume StackBreaks volume into buy and sell volume and stacks them based on which side has higher volume.
Dynamic Buy / Sell Stack
Unlike other buy/sell volume indicators, which statically display this information (typically green over red), this indicator dynamically stacks the higher volume side on top. For example, green over red indicates more buy-side volume, red over green indicators more sell-side volume.
Current Candle Volume Buy/Sell %
A label shows the % buy vs sell volume for the current candle in real-time. This label is also dynamic with the left position being higher volume.
How the Buy/Sell Volume is Calculated
Buy/Sell % is calculated based on price.
Buy % is calculated using the distance between the low of the candle to the closing value of the candle and dividing that by the total range of the candle high to low.
Sell % is calculated using the distance between the high of the candle to the closing value of the candle and dividing that by the total range of the candle high to low.
Please note this is a proxy metric and while it is incredibly useful, it is not going to match up exactly with actual buy/sell volume that can be found on tape.
Modified On Balance VolumeModified On Balance Volume (mOBV) Indicator
The "Modified On Balance Volume" (mOBV) indicator is designed to provide insights into the cumulative buying and selling pressure in the market, with modifications for close, high, and low prices. It incorporates On Balance Volume (OBV) calculations for each of these price types and further refines the analysis by applying Simple Moving Averages (SMA).
Key Features:
Calculation of OBV for Close, High, and Low Prices:
Traditional OBV values are computed for close, high, and low prices, reflecting the cumulative volume based on the sign of price changes.
SMA Smoothing:
Simple Moving Averages (SMA) are applied to the calculated OBV values, introducing a smoothing effect to highlight trends in the buying and selling pressure.
Relative Values for High and Low OBV:
The script transforms the OBV values for high and low prices into relative values compared to the SMA of the OBV for close prices.
User-Defined SMA Length:
Users can customize the length of the SMA through a parameter, allowing flexibility in adapting the indicator to different market conditions.
Error Handling:
The script includes a mechanism to detect if no volume data is provided by the data vendor, alerting users to potential issues with the dataset.
Visual Representation:
The calculated OBV values for close, high, and low prices, as well as the SMA of the OBV for close prices, are visually represented on the chart with customizable colors and transparency settings.
Usage Tips:
Rising values indicate increasing buying pressure, while falling values suggest increasing selling pressure.
Crosses between the OBV lines and the SMA line may be used to identify potential trend changes.
Note:
This script is intended for informational purposes and should be used in conjunction with other technical analysis tools for comprehensive market analysis.
Volume Heatmap 2024 | NXT2017 Christmas EditionHi big players around the world,
I wish you a merry christmas time.
Today I have a nice present for you: a new volume heatmap indicator for free using!
HISTORY
My first volume heatmap project got a lot of feedback and a big demand. You can find it here:
In this time pinescript version 4 was the newest one and I worked the first time with arrays.
Today we have pinescript version 5 and some new features. This is why I tried again with matrix function and the results are better than I expected.
HOW IT WORKS
The indicator calculates similar like the volume profile. It looks back and every volume where the close price is on the same row area, the volume will cumulated. How much rows the new chart view is showing, you can choose manually.
The mind behind this is to find high volume levels, where high volume catch the price in a range or get function as support/resistance line.
PICTURES
I hope it helps for your trading. You are welcome to give some comments.
Merry christmas and best regards
NXT2017
Volume Points of Control and No Control [NariCapitalTrading]Overview:
The "Volume Points of Control and No Control" (VPOC/VPONC) is a trading indicator/concept I designed to identify key price levels based on volume activity. It shows (on the price label on the y-axis) where there was the most (red) and the least (blue) volume over a specified lookback period. Read below for interpretation.
Key Features:
Identifies key price levels based on volume
Customizable lookback period and trade timeframe
Plots Volume Point of Control (VPOC) and Volume Point of No Control (VPONC)
Inputs and Calculations:
Custom Trade Timeframe: Allows users to set the desired timeframe for analysis (e.g., Daily, Weekly).
Lookback Period: Users can specify the period over which to analyze volume data.
VPOC Calculation: Determines the price level with the highest volume within the lookback period.
VPONC Calculation: Finds the price level with the lowest volume within the lookback period.
Indicator Usage:
The VPOC is considered a significant level where traders have shown the most interest, often acting as a strong support or resistance level. The VPONC, conversely, is a concept I made up. It represents a price level where 1) in an trending market, this price was accepted quickly, thus suggesting continuation of an trend. 2) price retracements will typically revisit thinly-traded price areas, the VPONC can sometimes signal an area of support in a downtrend.
Chart Representation:
VPOC Label: Plotted on the y-axis in red, indicating the price level with the highest volume.
VPONC Label: Displayed on the y-axis in blue, showing the price level with the least volume.
These labels are dynamically updated based on the user-specified lookback period and trade timeframe.
True VolumeThis indicator is designed to provide in-depth analysis of volume data from multiple sources and distinguish highly liquid candles by measuring the density of the volume. By focusing on the density and concentration of volume, rather than just the volume itself, it offers a more nuanced view of the market. This can be particularly beneficial in markets like cryptocurrencies, where understanding the role of market makers versus retail traders is crucial for strategic trading.
This is how it works:
Multiple Asset Integration:
Unlike standard volume indicators, True Volume allows the inclusion of up to four different assets (or the same asset from various exchanges) into its volume calculations. This feature provides a broader and more accurate total volume representation, essential in markets like cryptocurrencies where volume is dispersed across multiple exchanges.
Adjustable Time Anchors:
It offers various time anchor options, allowing traders to analyze volume data over different time periods or a specific amount of lookback candles. This flexibility helps in understanding volume trends over both short and long-term time frames.
Volume Density Analysis:
The core of this indicator is the innovative concept of Volume Density. It's calculated using a sigmoid function that normalizes the volume-to-price movement ratio in a unique way without needing a max cap or having the density column spike off the chart. This method helps in distinguishing between normal volume fluctuations and those that are unusually dense for the given price movement. This distinction is key in identifying potential market maker activities.
The Visuals:
The Volume Density is displayed in a unique way without compromising the original volume bars or cap the density. Infinite density can essentially be represented without having an infinitely large bar or caping out the density data. There's also two different color themes, optional bar color, and an option to flip the density bars up-side down for a different representation. Each of the original volume sources can be displayed separately as well. All colors as customizable as well for your own preference.
Price Volume Trend (PVT):
Included in this indicator is also the Price Volume Trend, which cumulatively measures the density delta, offering insights into the longer-term momentum of the market.
How do I trade it?
This indicator aims to give you insight into 'the other side of the trade', the Market Makers. When you buy, they provide liquidity by selling to you. That drives the Volume Density up.
Consider whether the market maker is currently long or short and might need to cover their position by wicking price back, or "adjust inventory". Especially towards the end of a market session.
Consider dense candles during market gaps or weekends to be market manipulation moves.
The density also goes up when stop losses are hit. If price makes a higher high or lower low, high density could indicate a liquidation event.
Gross and Net LTF Volume + Trailing Percentile Sessions CVOL Hi Traders !
Gross volume, net lower time frame (LTF) volume and trailing session percentile Cumulative session volume:
The code calculates and plots the following volume indicators:
Volume (Gross Volume): The total volume for the current bar.
Net lower time frame volume: The difference between the buy and sell volumes of the lower time frame.
Cumulative daily session volume: The cumulative sum of the volume for the current day.
Percentile Cumulative daily session volume: The percentile of the cumulative daily session volume (calculated on a rolling basis).
The above indicators may be plotted exclusively or exclusively.
Why is Volume important:
Volume is the number of shares or contracts traded (of a financial asset) during a given time period (timeframe). It is a crucial indicator in technical analysis and quantitative trading, as volume helps in identifying
Price Confirmation: Volume confirms price movements by indicating the level of interest and participation in the market. When prices move significantly, accompanied by strong volume, it suggests that the movement is likely to be sustained. Conversely, if prices move without significant volume, it suggests that the movement may be temporary or lacking conviction.
Trend Strength: Volume can help identify the strength and direction of a trend. During an uptrend, increasing volume alongside price increases indicates that the upward momentum is gaining traction. Conversely, decreasing volume during an uptrend suggests that the upward momentum may be weakening.
Reversal Points: Sharp volume spikes in the opposite direction of the prevailing trend can signal a potential reversal point. This is because large volume indicates a significant shift in trader sentiment, suggesting that the trend may be changing direction.
Liquidity: High volume indicates that a security is liquid, meaning that it can be easily bought and sold without significant price impact. Liquidity is important for traders who want to execute large orders without significantly affecting the market price.
For example, suppose we want to identify positive price confirmation and positive trend strength, in this case we may use the CVOL (with trailing percentile).
The above image showcases price expansion conditional on high positive volume (increasing CVOL), The price expansion also exhibits Volume confluences (the colored bars).
Positive Confluence: Increase in positive total volume and an increase in positive lower time frame volume in relative and absolute terms.
Negative Confluence : Increase in negative total volume and an increase in negative lower time frame volume in relative and absolute terms.
Also note how the percentile color does not change, this means that the new volume bars are > than the highest percentile (80%) of volume values from the beginning of the session.
ka66: Normalised/Relative VolumeThis is an idea taken from a John Bollinger (of Bollinger Bands fame) talk. Instead of showing volume with a moving average overlay, we show volume relative to its moving average:
avgVolume = sma(volume, 10) // several configurable MAs allowed
relativeVolume = volume / avgVolume
Now if we get a value of 1, that means the current volume is the same as its historical average. Under 0, less than average, and above zero, greater than its average.
If we get a value like 2, then current volume is twice its average. I hope the implication of this being displayed visually is becoming clearer.
We plot this relative volume as columns.
We then plot horizontal levels, like 1, 2, 3 to see the magnitude of the current volume relative to its average.
Consecutive rising or falling relative volume is shown in the same colour.
I am still exploring volume as trading data point, but we see some ideas from this visual representation:
How do volume patterns change across timeframes? Do we get better signals or higher or lower time frames (e.g. big relative volume spikes)
Can consecutive rises or falls indicate a big potential move, even though price is just fluctuating.
What about a switch from rise to fall.
If we get pinbars/spikes with a big relative volume spike, can we then infer more clearly whether buyers or sellers are in control.
