WTT Volume Trend [Morty] — Indicator by M0rty

trendanalysis volumestudies movingaverage trend

WTT Volume Trend by Morty

Inspired by Natural Trading Theory

It is a colored volume indicator based on the strength of single candlestick pattern.

It also paints two weighted volume SMA, which shows the strength and trend of the market.

Version 1.0, Updated at 20210327

Features:
- Colored volume bars (Optional)
- Weighted Bullish volume SMA trend lines according to candlestick pattern
- Weighted Bearish volume SMA trend lines according to candlestick pattern
- Adjustable volume SMA length
- Adjustable weighting factors
- Filling the background between volume SMA trend lines

Release Notes:

fix bullish weak and bearish weak pattern recognition bugs

Release Notes:

Version 1.1
Add feature: Highlight large volume

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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