OPEN-SOURCE SCRIPT
Current bar predicted volume
Drag this indicator in the same panel with the volume in the object tree, then right click on the scale bar and set "merge all scale into one" for a correct visualization.
This indicator multiply the current traded volume of a candle with the total time of that candle. This offer a prediction of where, in case the volumes would keep trading at a comparable magnitude, the volume bar would close when the candle will close.
The predicted volume is indicated with a blue short line above the current volume bar, and updates in real time.
I find this indicator extremely useful to offer at a glance an idea of an ascending or descending volume pattern, that can serve as confirmation for a reversal or breakout for example.
Very suitable for short time frames, where decisions have to be taken fast.
Enjoy,
Luca.
This indicator multiply the current traded volume of a candle with the total time of that candle. This offer a prediction of where, in case the volumes would keep trading at a comparable magnitude, the volume bar would close when the candle will close.
The predicted volume is indicated with a blue short line above the current volume bar, and updates in real time.
I find this indicator extremely useful to offer at a glance an idea of an ascending or descending volume pattern, that can serve as confirmation for a reversal or breakout for example.
Very suitable for short time frames, where decisions have to be taken fast.
Enjoy,
Luca.
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.
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