dineshdeore

Volume Brakeout v1

Volume Brakout indicator is used to help determine trend direction strictly based on Negative and Positive volume data.

How to Read:
- Moving Average crossovers are used to help determine a possible trend change or retracement.
- The area cloud on the bottom is calculated by the difference of the moving averages. This could be used to help determine the trending volume strength.
- Bright colored volume bars are large volume spikes calculated by the x factor in the options.

Other changes:
- Volume Depth is going open source with numerous of its indicators. This is only one of many!
- Volume is now displayed without being altered for calculations.
Release Notes: VOLUME CONFIRMATION
Release Notes: Setting change allow to all users as per own execution..
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Comments

Good script I'm still testing it but looks good so far - could you explain the logic behind highlighted volume bars? looks very random to me.

Thanks for sharing
Reply
Good indicator for trend confirmation
Reply
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