OPEN-SOURCE SCRIPT
Average Dollar Volume by Mashrab
Standard Mode: By default, it shows a 20-period SMA of the Dollar Volume. This is great for swing trading to see if money flow is increasing over days.
Day Trading Mode: Go to the indicator settings (User Input) and check "Reset Average Daily".
The line will now represent the Cumulative Average for today only.
Example: If it's 10:00 AM, the line shows the average dollar volume per bar since the market opened at 9:30 AM. This helps you spot if the current 5-minute bar is truly igniting compared to the rest of the morning.
Day Trading Mode: Go to the indicator settings (User Input) and check "Reset Average Daily".
The line will now represent the Cumulative Average for today only.
Example: If it's 10:00 AM, the line shows the average dollar volume per bar since the market opened at 9:30 AM. This helps you spot if the current 5-minute bar is truly igniting compared to the rest of the morning.
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.
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.
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.