BobRivera990

Volume Records + Alert

Contents
  • Overall Introduction
  • Settings menu parameters
  • Usage
  • How to use alerts
  • Limits

Overall Introduction
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals. This tool consists of two parts:

1- The colored graph is a custom volume oscillator which shows the relative changes in volume .
The darkening of the color of the bars is a sign of increasing volume .

2- Triangular labels that show trading volume records over different time periods based on the absolute values of the volume .

By creating an alert, you can be notified of new trading volume records. These records are:
  • Highest / lowest volume in one year,
  • Highest / lowest volume in six month
  • Highest / lowest volume in three month
  • Highest / lowest volume in one month
  • Highest / lowest volume in one week

Settings menu parameters
{Short Length} =>
The fast volume MA of the Volume Oscillator.

{Long Length} =>
The slow volume MA of the Volume Oscillator.

{Visual Parameters} =>
Parameters to personalize the appearance of the indicator.

{Alert Conditions Part 01: Highest Records ⏰ } =>
Parameters to customize the alert.

{Alert Conditions Part 02: Lowest Records ⏰ } =>
Parameters to customize the alert.

Usage
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals.

What Is Volume Analysis?
Volume analysis involves examining relative or absolute changes in an asset's trading volume in order to make inferences about future price movements.

A significant price increase along with a significant volume increase, for example, could be a credible sign of a continued bullish trend or a bullish reversal.

The gradual darkening of the bars is a sign of the strength of the trend.
Volume can be an indicator of market strength, as rising markets on increasing volume are typically viewed as strong and healthy.

How to use alerts
Note that by creating an alert, an instance of the indicator, with all your settings, will be activated on the site's server and alerts will be triggered by it.
After that, changing the indicator settings on the chart will no longer affect the alert.

  • Open the settings window and select the alert conditions as you wish
  • Click the Create Alert button (or press the A key while holding down the ALT key)
  • In the Condition section, select the name of the indicator.
  • Make the rest of the settings as you wish.
  • Finally, click on the Create button.
It's finished. After a few moments, your alert will be added to the Alerts menu.

Limits
  • The labels are displayed after the bars close.
  • Labels are displayed for the last 10,000 bars.
Release Notes: Some small changes
Release Notes: Only changes related to the chart
Release Notes: Only changes related to the chart
Release Notes: The following bug (for free accounts) has been fixed:
"study references too many candles in history"
From now on, labels will be displayed for the last 5,000 bars.
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.

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