Heatmap Volume [xdecow] — Indicator by xdecow

volume vsa heatmap coloredbars colored volumespreadanalysis volumestrengthcandles satosbar

This indicator colors the volume bars and candles according to the volume traded. The calculation of the heat map zones is done as follows:
how many standard deviations the volume are distant from the average volume?

For a better visual experience, place the borders and wicks of the candles in a neutral color.

Release Notes:

Added abbreviated numbers to scale

Release Notes:

Added options to show thresholds lines

Release Notes:

Option to select heatmap zones as lines or backgrounds.
Small fix in the plots order.

Release Notes:

temporary fix

Release Notes:

Updates

Update to pine5
Extra High zone (red) added again (previously removed to work around a bug)
Removed oscillator mode
Improved options and added tooltips

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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