david03kimo

Large volume indicator to show the price above/below

Large volume is meaningful that usually the current price above the highest price of the bars with largest volume usually means uptrend in the short-term.
In the opposite, below it means downtrend.
I coded this indicator to save the efforts to compare it, make it easily to tell the uptrend/downtrend by above/below and color.
Hope you guys enjoy it, and welcome to comment.

The Inputs:
Length:the largest volume of bars of the total bars numbers.
Color:the above/below colors.
Text:Remind this line is large volume R/S.

You can find the video tutorial in my ideas sharing.
Release Notes: Hi,Guys,
According to feedbacks of invisible,

1.I move the label to the right.
2.The background color of label can be self-defined.
3.Make the line thicker.

Thanks for comment and share how you feel when using it.
Release Notes: Hi,guys,
According to feedback of indicator, some modified functions as below:
1.Self-defined extend the line to the left largest volume bar or not.(Default is yes)
2.Self-defined the width of line (1-4) to be visible.(Default is 1, thinnest)

Hope you guys enjoy it, and welcome to leave your comments below.
Thanks.

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.

Disclaimer

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