OPEN-SOURCE SCRIPT
Volume Base
Volume Base Indicator
Description:
The Volume Base indicator is designed to help traders identify significant price levels based on volume and price action. This tool utilizes pivot points to highlight swing highs and lows, providing visual cues for potential support and resistance areas.
Key Features:
Pivot Lookback: Customize the lookback period for identifying swing highs and lows, allowing for flexibility based on your trading strategy.
Swing Area Options: Choose between "Wick Extremity" and "Full Range" to define the area of interest for swing points, catering to different trading styles.
Intrabar Precision: Enable intrabar precision to analyze volume data on a lower timeframe, enhancing the accuracy of your signals.
Volume Filtering: Filter areas based on either the count of occurrences or the total volume, helping you focus on the most relevant price levels.
Visual Customization: Adjust colors and styles for swing highs, swing lows, and their respective areas to suit your personal preferences and improve chart readability.
Dynamic Labels and Zones: Automatically generated labels and zones for swing highs and lows provide clear visual indicators of potential market reversals or continuations.
How to Use:
Set the Lookback Period: Adjust the pivot lookback period to match your trading timeframe.
Select Swing Area Type: Choose whether to focus on the wick extremity or the full range of the swing.
Enable Intrabar Precision: If desired, turn on intrabar precision for more detailed volume analysis.
Filter Settings: Decide whether to filter by count or volume and set your threshold value accordingly.
Analyze the Chart: Observe the plotted swing highs and lows, along with their respective zones, to make informed trading decisions.
Disclaimer: This indicator is for educational purposes only and should not be considered financial advice. Always conduct your own research and analysis before making trading decisions.
Description:
The Volume Base indicator is designed to help traders identify significant price levels based on volume and price action. This tool utilizes pivot points to highlight swing highs and lows, providing visual cues for potential support and resistance areas.
Key Features:
Pivot Lookback: Customize the lookback period for identifying swing highs and lows, allowing for flexibility based on your trading strategy.
Swing Area Options: Choose between "Wick Extremity" and "Full Range" to define the area of interest for swing points, catering to different trading styles.
Intrabar Precision: Enable intrabar precision to analyze volume data on a lower timeframe, enhancing the accuracy of your signals.
Volume Filtering: Filter areas based on either the count of occurrences or the total volume, helping you focus on the most relevant price levels.
Visual Customization: Adjust colors and styles for swing highs, swing lows, and their respective areas to suit your personal preferences and improve chart readability.
Dynamic Labels and Zones: Automatically generated labels and zones for swing highs and lows provide clear visual indicators of potential market reversals or continuations.
How to Use:
Set the Lookback Period: Adjust the pivot lookback period to match your trading timeframe.
Select Swing Area Type: Choose whether to focus on the wick extremity or the full range of the swing.
Enable Intrabar Precision: If desired, turn on intrabar precision for more detailed volume analysis.
Filter Settings: Decide whether to filter by count or volume and set your threshold value accordingly.
Analyze the Chart: Observe the plotted swing highs and lows, along with their respective zones, to make informed trading decisions.
Disclaimer: This indicator is for educational purposes only and should not be considered financial advice. Always conduct your own research and analysis before making trading decisions.
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.