OPEN-SOURCE SCRIPT

Normalized Volume - Hybrid

67
Description for the Hybrid Version
Hybrid Normalized Volume (Color-Coded)
A volume normalization tool that also highlights market sentiment by color-coding bars according to price direction.

Features:

3 normalization modes: Relative to Average, Z-Score, and Min-Max.
Green histogram bars = bullish volume (close > open).
Red histogram bars = bearish volume (close < open).
Adjustable lookback period.
Baseline for quick identification of above/below-average activity.

Use cases:

Instantly spot high-volume buying vs. high-volume selling.
Compare volume behavior across different assets without scale distortion.
Identify significant market participation shifts in real-time.

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.