Igniting Candles — Indicator by syntaxgeek

volumedelta volume igniting_candles volumeanalysis volume_delta

Displays (and alerts) abrupt changes in volume, by default it compares previous candle volume to the current one but average volume over custom look-back period can be specified. Simply adjust filter to the volume change (or average volume) required before visual indication and alert will fire.

The theory is that large changes in volume forecast the future movement; certainly combine this indicator with other tools to build a more sound trading plan.

Release Notes:

Added DEMA, TEMA and ZLEMA average types for volume analysis selection.

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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

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.

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