OPEN-SOURCE SCRIPT
Updated Volume Spikes
Shows volume spikes over a certain threshold, using a symbol's volume moving average as the baseline. Offers a few different filters regarding candle shapes and types, in an attempt to catch quick moves on extremely low timeframes (sub-1m).
Ultimately I would like to integrate this logic into an indicator that contains automated stop raid/inducement detection.
Ultimately I would like to integrate this logic into an indicator that contains automated stop raid/inducement detection.
Release Notes
Added session parameter so that volume spikes will only be shown within a valid timeframe. Also added an offset so that volume spikes are being shown on the appropriate candles, since a valid low/high requires a 3 bar pattern and therefore makes the signals "lag" by 1 bar.Release Notes
Added a step size of 0.1 for the volume multiplier in order to make smaller adjustments (rather than the default step size of 1).Release Notes
Can now create alerts from volume spikes, and also change the signal colors.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.