[DisDev] Market Maker - High Volume Recovery
The indicator analyzes past volume movements, allowing you to visualize selected volume percentages above and below candles and to visualize live recovery of High-Volume Candles.
1) The High-Volume Candles project to the current time to show how much of the High-Volume Candle has been recovered and how much remains unrecovered.
a. The indicator can be customized to a user-defined volume percentage; this allows you to focus on candles with volume over a given percentage (e.g., 500%.)
b. You can customize the candle colors and volume percentage thresholds.
2) You can select the option to display percentages above the candles, allowing you to research and back-test theories.
a. For example, the chart below shows High-Volume Candles above 500%. Throughout 2021, 92% of the 500%-plus candles have been recovered, leaving only four high volume zones yet to be recovered, one below and three above the current price.
For a further breakdown of the statistics click on the below chart image.
3) There is also the option to show the volume percentage within the unrecovered High-Volume Zone.
a. This allows you to instantly assess how strong the price movement was of that particular High-Volume Zone.
4) Lookback periods can also be adjusted to fine-tune the indicator.
Below is the indicator in full operation.
DISCLAIMER
When pressing the play button in the chart above it does not display the recovery. A TV "HOW TO" idea will be published soon, to demonstrate the indicator in full action or for more info please read "Author's instructions".
Configuration to enable the user the option to extend the recovery zones.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact DisDev directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact DisDev directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.