Volume Spikes — Indicator by nboone

Plots volume the same as the built-in indicator. However, this indicator colors the column according to its change relative to the previous column. In other words, this indicator displays a green column on increased volume and a red bar on decreased volume.

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

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Want to use this script on a chart?

//@version=2
// Plots volume the same as the built-in indicator.
// However, this indicator colors the column according to its
// change relative to the previous column.
// In other words, this indicator displays a green column on
// increased volume and a red bar on decreased volume.
study("Volume Spikes")

barColor = if (change(volume)  < 0)
    red
else
    green

plot(volume, color=barColor, style=columns, title="Volume")