LARP_Capital

1337 Volume

This volume indicator gives you a unique perspective and ability to analyze volume in any market. The upper line that is always >=0 represents average up volume over a user definable period while the lower line that is always <= 0 represents the average down volume over a user definable period.

green == bullish candle but volume lower than average
lime == bullish candle with above average volume
crimson == bearish candle with below average volume
red == bearish candle with above average volume

This indicator is very useful for spotting bottoms / tops (do a visual backtest and observe its behavior) as well as entry opportunities.

By default, the lookback period for average volume is 7, but I encourage you to change this value in order to find settings that work best for your particular market.

If you have any feedback or ideas for improvement, please comment.

Enjoy :D
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Comments

Note: You can also use the two lines to visualize volume squeeze ;)
+9 Reply
can u add difference between up volume and down volume in the look back period
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Please explain to me the numbers shown on the right. Is that the amount of stock being traded?
Thank you so much for your dedication.
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Good one, can't believe I didn't find this earlier.. Thanks for the script :)
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