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
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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
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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.
@dos32101, It should be work well unless you add it on a charts with no volume data.
cgutierrez71
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Hi David, I like it but I wanted to ask you a question. What length do you recommend or use for different time frames? For example 5 min, 4 hours, 1 day? Thank you so much.