Normalized Volume by vosechu — Indicator by vosechu

Volume normalized

This script adds a volume indicator that is normalized by SMA(50) by default. This will help you easily see whether the volume is _actually_ high or not. It also highlights when volume is exceeding the average by making the column a darker color.

Caveats:
* This changes the volume into a percentage, so don't use this number for calculations

Hints:
* Make sure to set your "bottom margin" to 0% or the volume chart will appear to be floating above the bottom

Release Notes:

Better constraint of the volume bars. Now they're set to 70% of the max left-bar height. Also, added monochrome mode.

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

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.

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