OPEN-SOURCE SCRIPT
High Volume Levels with 9 EMA
The script looks back 30 candles and determine highest volume candle in last 30 candles.
High and Low of these candles acts as support and resistance.
Typically price is rising above 9 ema and breaks out of high of the volume candle is bullish.
Similarly, if price is below 9ema and breaking the low of volume candle its bearish.
High and Low of these candles acts as support and resistance.
Typically price is rising above 9 ema and breaks out of high of the volume candle is bullish.
Similarly, if price is below 9ema and breaking the low of volume candle its bearish.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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