OPEN-SOURCE SCRIPT
Multi-Volume
Updated
This indicator displays volume in several formats:
Volume Bar Format:
Flip Down Volume:
The down volume bar will be displayed below the center line.
Show Delta:
When selected with "Up/Down Volume" or "Volume Pressure", a small line will be displayed at the net volume (difference between up and down volume).
Projected Volume:
Instead of current volume, it will show expected volume at end of candle based on volume per second.
Volume Pressure:
On a green candle:
On a red candle:
To Update to Latest Version:
To update to the latest version, just close the indicator and add it again.
Volume Bar Format:
- Normal Volume: Shows the normal volume bar colors based on each candle's price direction
- Up/Down Volume: Breaks down each volume bar into buying volume (volume added when price goes up) and selling volume (volume added when price goes down)
- Volume Pressure: Breaks down each volume bar based on the length of the candle and its "pressure wick". See below for more information.
Flip Down Volume:
The down volume bar will be displayed below the center line.
Show Delta:
When selected with "Up/Down Volume" or "Volume Pressure", a small line will be displayed at the net volume (difference between up and down volume).
Projected Volume:
Instead of current volume, it will show expected volume at end of candle based on volume per second.
Volume Pressure:
On a green candle:
- The red part represents the upper wick, the volume as the price comes back down from its high
- The green part represents the rest of the candle, the volume as the price goes up from its low to the close
On a red candle:
- The green part represents the lower wick, the volume as the price comes back up from its low
- The red part represents the rest of the candle, the volume as the price goes down from its high to the close
To Update to Latest Version:
To update to the latest version, just close the indicator and add it again.
Release Notes
Added SMA, EMA and HMA moving averages for volume. When the Down volume is flipped, it will show separate moving averages for Up and Down volume.Release Notes
Fixed problem with volume bars jumping around when switching between tickers. Added a hidden scale line that keeps them relatively consistent.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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