OPEN-SOURCE SCRIPT
VolT by empowerT
VolT is conceived to expose and alert volume volatility.
Using 21-candle moving average volume values compared to the current candle volume, you can graphically see the volume as it comes in - as a percentage of the historic 1X volume moving average.
Getting close to 2X or 5X of the 21-candle SMA? Just glance at the transparent plots behind the volume bars - or the actual percentage value in yellow.
Never wonder again how much volume that bar is compared to previous volume - now you know. Set alerts based on the volume crossing your chosen volume SMA. You'll never be surprised that the hedgies loaded up and left you behind, because you'll be right there loading up with them. (Let me know if you need help setting the alerts...)
As always, your feedback and criticisms are appreciated.
Using 21-candle moving average volume values compared to the current candle volume, you can graphically see the volume as it comes in - as a percentage of the historic 1X volume moving average.
Getting close to 2X or 5X of the 21-candle SMA? Just glance at the transparent plots behind the volume bars - or the actual percentage value in yellow.
Never wonder again how much volume that bar is compared to previous volume - now you know. Set alerts based on the volume crossing your chosen volume SMA. You'll never be surprised that the hedgies loaded up and left you behind, because you'll be right there loading up with them. (Let me know if you need help setting the alerts...)
As always, your feedback and criticisms are appreciated.
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.
Disclaimer
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