OPEN-SOURCE SCRIPT
Advanced Volume
Updated
This simple indicator improves upon the built in volume indicator by adding the following:
-Option to use an EMA instead of SMA
-Advanced Coloring: Lighter bars show growing volume, darker bars show falling volume. Gray bars show very low relative volume (less than or equal to 50% of the moving average), while bars which have a highlighted background have a high relative volume( you can choose the threshold level, default is 2 times the RVOL).
Enjoy!
-Option to use an EMA instead of SMA
-Advanced Coloring: Lighter bars show growing volume, darker bars show falling volume. Gray bars show very low relative volume (less than or equal to 50% of the moving average), while bars which have a highlighted background have a high relative volume( you can choose the threshold level, default is 2 times the RVOL).
Enjoy!
Release Notes
Updated to Pinescript V5Added Data panel with ATR% and OBV state(if OBV > 55ema its bullish, and viceversa)
Added Pocket Pivot indicator of Gil Morales fame, which shows when a bullish volume bar is higher than the last n bearish bars and viceversa.
Added the option to choose up to 3 tickers to aggregate their volume, useful when trading crypto so you can sum the volume across 3 exchanges.
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.
Want to use this script on a chart?
@FractalTrade_
Disclaimer
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