OPEN-SOURCE SCRIPT
Updated

Burner Volume Candles

180
Visually see different candle colors based on volume relative to the look back period (default is last 20 candles).

This allows you to see if a current candle print is standard, high, or extreme sell/buy volume relative to the look back period.

This has been primarily used on the 30s timeframe on NQ.

It is also advised to take the NY open candle volume with a grain of salt as that is typically the extreme volume so it doesn't make this indicator as useful when it comes to those candles.
Release Notes
Visually see different candle colors based on volume relative to the look back period (default is last 20 candles).

This allows you to see if a current candle print is standard, high, or extreme sell/buy volume relative to the look back period.

This has been primarily used on the 30s timeframe on NQ.

It is also advised to take the NY open candle volume with a grain of salt as that is typically the extreme volume so it doesn't make this indicator as useful when it comes to those candles.

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.