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Volume with force
Updated
This indicator shows the classic stock volume chart with a plottable 20 periods SMA line. Along with this, it shows to the top right of the pane a percent, showing the current "volume force".
This force is calculated as the SMA of the last 3 volume candles excluded the current candle (only counts finished candles) and then compare it with the standard 20 periods volume SMA.
Some examples for a better understanding:
If the value is above 100%, the background will be green, red otherwise. A green value means that the symbol is having a nice volume income.
Customizable settings
This force is calculated as the SMA of the last 3 volume candles excluded the current candle (only counts finished candles) and then compare it with the standard 20 periods volume SMA.
Some examples for a better understanding:
- A value of 200% means that the SMA of last 3 candles is equals to 2 times of the 20 periods volume SMA
- A value of 100% means that the SMA of last 3 candles is equals to the 20 periods volume SMA
- A value of 50% means that the SMA of last 3 candles is equals to 1/2 of the 20 periods volume SMA
- A value of 25% means that the SMA of last 3 candles is equals to 1/4 of the 20 periods volume SMA
If the value is above 100%, the background will be green, red otherwise. A green value means that the symbol is having a nice volume income.
Customizable settings
- Timeframe: the main TF to plot volume and calculate force
- MA Length: the length of the standard volume SMA to plot (and to compare for the force calculation)
- Diff force length: the length of the last candles (excluded the current candle) to compare with the standard volume SMA
- Show moving average: if checked, plots the standard SMA
- Show volume force: if checked, shows to the top right the volume force
Release Notes
- Changed indicator name to better describe that the timeframe is customizable
- Added an alert that triggers when the current volume is > than SMA 20 periods (20 by default, the period is customizable)
Instructions to make the alert work:
- Add the indicator to your layout
- Set the desidered settings
- Create an alarm (Alt + A)
- In the first condition toolbox select "Volume with tf force"
- Press create (unless you want to change secondary stuff like notification settings)
Release Notes
Colors of the long and short columns are now customizable
Disclaimer
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