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OPEN-SOURCE SCRIPT

Volume With Color

By Amphibiantrading
Updated
Volume with color helps to quickly identify accumulation or distribution.

An accumulation day is an up day with volume greater than a user selected average.
A distribution day is a down day with volume greater than a user selected average.

This indicator will highlight those days by changing the volume bar colors for an easy visual.
Release Notes
Added functionality to plot volume as a histogram or line.
Code clean up.
Release Notes
Now has the ability to show Pocket Pivots.

A pocket pivot is an up day with volume greater than any of the down days volume in the past 10 days.

Release Notes
Clean up
Release Notes
  • Added ability to see projected volume bar
  • Added info block with current day's volume and projected % change vs the average volume


snapshot
Release Notes
Ability to change text color for dark mode users
Release Notes
  • Added ability to see highest volume ever and highest volume in 1 year
  • Added ability to highlight skyscrapers (no higher volume 13 bars left or right)


snapshot
Release Notes
  • Added Pocket Pivot alerts
Release Notes
User request to add the ability to plot a line at 2x and 3x average volume.
  • Turn lines on or off
  • Select line color
  • Alerts if volume reaches 2x or 3x average


snapshot
Release Notes
Per user requests multiple new features added
  • Additional volume info in table (Avg. Volume, Avg. Dollar Volume, Up Down Volume Ratio)
  • Color volume dry up bars
Release Notes
5 Day Pocket Pivots
  • Added the ability to see 5 day pocket pivots
Release Notes
Now able to change the size of the volume information table and skyscraper labels.
Release Notes
User request to show volume percentage change on skyscraper volumes.
Release Notes
Added option to automatically switch the volume moving average length when switching to a weekly chart. The weekly MA length can be set in the indicators settings and this option can be turned on or off to keep the MA consistent across all time frames.
Release Notes
Option to color the MA based on the up down volume ratio.

Up down ratio > 1 - moving average is blue
Up down ration < 1 - moving average is orange

Added ability to see the volume percentage change for previous bars by hover over the volume.
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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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Amphibiantrading
Trusted Pine programmer. Send me a message for script development.
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