Volume Spike Retracement

RickSimpson Premium Updated   

-Following many people's request to add "Volume" mode again in my "Institutional OrderBlock Pressure" script. I decided to release an improved
and full-fledged script. This will be the last OB/Retracement script I will release as we have explored every possible way to find them.


-The script uses the the 0.5 Pivot and the maximum value set for Volume Length to find 'Peak Volume'. Once these conditions are met,
the script starts creating a Retracement Line.
-By default, the Volume Length value is set to 89, which works well with most Timeframes following the OrderBlocks/Retracements
logic used in my scripts.
-You have the option to set Alerts when the "Volume Spike Limit" is reached or when a Price Crossing with a Line occurs.


-Yes Alerts appear instantly. Moreover, they are not 'confirmed', you must ALWAYS wait for confirmation before making a choice.

Good Trade everyone and remember, risk management remains the most important!
Release Notes:
-Added volume spike 'Multiplier' option. (You can now choose yourself the pivot you want to use)
-Minor improvements and code cleaning.
Release Notes:
-Lines Price alignement correction.
Release Notes:
-Minor improvement

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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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