Relative volume zone + Smart Order Flow Dynamic S/ROverview:
The Relative Volume Zone + Smart Order Flow with Dynamic S/R indicator is designed to help traders identify key trading opportunities by combining multiple technical components. This script integrates relative volume analysis, order flow detection, VWAP, RSI filtering, and dynamic support and resistance levels to offer a comprehensive view of the market conditions. It is particularly effective on shorter timeframes (M5, M15), making it suitable for scalping and day trading strategies.
Key Components:
1. Relative Volume Zones:
• The script calculates the relative volume by comparing the current volume with the average volume over a defined lookback period (volLookback). When the relative volume exceeds a specified multiplier (volMultiplier), it indicates a high volume zone, signaling potential accumulation or distribution areas.
• Purpose: Identifies high-volume trading zones that may act as significant support or resistance, indicating possible entry or exit points.
2. Smart Order Flow Analysis:
• The indicator uses Volume Delta (the difference between buying and selling volume) and a Cumulative Delta to detect order imbalances in the market.
• Order Imbalance is identified using a moving average of the Volume Delta (orderImbalance), which helps highlight hidden buying or selling pressure.
• Purpose: Reveals market sentiment by showing whether buyers or sellers dominate the market, aiding in the identification of trend reversals or continuations.
3. VWAP (Volume Weighted Average Price):
• VWAP is calculated over a default daily length (vwapLength) to show the average price a security has traded at throughout the day, based on both volume and price.
• Purpose: Provides insight into the fair value of the asset, indicating whether the market is in an accumulation or distribution phase.
4. RSI (Relative Strength Index) Filter:
• RSI is used to filter buy and sell signals, preventing trades in overbought or oversold conditions. It is calculated using a specified period (rsiPeriod).
• Purpose: Reduces false signals and improves trade accuracy by only allowing trades when RSI conditions align with volume and order flow signals.
5. Dynamic Support and Resistance Levels:
• The script dynamically plots support and resistance levels based on recent swing highs and lows (swingLookback).
• Purpose: Identifies potential reversal zones where price action may change direction, allowing for more precise entry and exit points.
How It Works:
• Buy Signal:
A buy signal is generated when:
• The price enters a high-volume zone.
• The price crosses above a 5-period moving average.
• The cumulative delta shows more buying pressure (cumulativeDelta > SMA of cumulativeDelta).
• The RSI is below 70 (not in overbought conditions).
• Sell Signal:
A sell signal is generated when:
• The price enters a high-volume zone.
• The price crosses below a 5-period moving average.
• The cumulative delta shows more selling pressure (cumulativeDelta < SMA of cumulativeDelta).
• The RSI is above 30 (not in oversold conditions).
• Dynamic Support and Resistance Lines:
Drawn based on recent swing highs and lows, these lines provide context for potential price reversals or breakouts.
• VWAP and Order Imbalance Lines:
Plotted to show the average traded price and highlight order flow shifts, helping to validate buy/sell signals.
How to Use:
1. Apply the Indicator:
Add the script to your chart and adjust the settings to match your trading style and preferred timeframe (optimized for M5/M15).
2. Interpret the Signals:
Use the buy and sell signals in conjunction with dynamic support/resistance, VWAP, and order imbalance lines to identify high-probability trade setups.
3. Monitor Alerts:
Set alerts for significant order flow events to receive notifications when there is a positive or negative order imbalance, indicating potential market shifts.
What Makes It Unique:
This script is unique because it combines multiple market analysis tools — relative volume zones, smart order flow, VWAP, RSI filtering, and dynamic support/resistance — to provide a well-rounded, multi-dimensional view of the market. This integration allows traders to make more informed decisions by validating signals across various indicators, enhancing overall trading accuracy and effectiveness.
Relativevolume
Korean Exchange Relative Volume BarchartKorean Exchange Relative Volume Barchart
The Korean Exchange Relative Volume Barchart indicator compares the trading volume of a cryptocurrency on any symbol with the combined volumes of major Korean exchanges, Upbit and Bithumb. This tool helps traders understand regional trading activities, offering insights into market sentiment influenced by Korean markets.
For example 0.5 would indicate that the Korean exchanges are doing 50% of the volume of the selected symbol.
Features:
Exchange Selection: Include or exclude Upbit and Bithumb in the comparison.
Automatic Symbol Mapping: Automatically maps the current chart's symbol to equivalent symbols on Upbit and Bithumb.
Stacked Bar Chart Visualization: Plots a stacked bar chart showing the relative volume contributions of Binance, Upbit, and Bithumb.
Usage:
Add the Indicator: Apply it to a cryptocurrency chart on TradingView.
Configure Settings: Toggle inclusion of Upbit and Bithumb in the settings.
Interpret the Chart: The stacked bar chart displays the proportion of trading volumes from each exchange.
Notes:
Symbol Compatibility: Ensure the cryptocurrency is listed on the Korean exchanges for accurate comparison.
Data Accuracy: Volumes are compared in the same base currency (e.g., BTC), so no exchange rate conversion is necessary.
Enhance your trading analysis by understanding the influence of Korean exchanges on cryptocurrency volumes with the Korean Exchange Volume Comparison indicator.
Volume Insignts AnalyzerDescription:
The Volume Insight Analyzer is an advanced Pine Script designed for traders who want a comprehensive view of volume dynamics on their charts. This script combines multiple volume-based indicators to help identify key trading opportunities, including significant volume days, volume dry-ups, and pocket pivots.
Key Features:
VDU (Volume Dry-Up) Detection: Automatically identifies and marks days when the volume is significantly below its moving average, helping to spot potential breakout or breakdown points. Customizable volume thresholds allow for tailored analysis based on your trading strategy. The Volume Dry-Up label appears when the volume is substantially below its average level and the price is near a key moving average. This condition indicates a period of equilibrium between supply and demand, suggesting a potential low-risk entry point for traders.
Pocket Pivot Analysis using 5 and 10 Length Pocket Pivots: Highlights days with exceptionally high volume compared to recent history, indicating potential pocket pivots. Visual markers on the chart and volume bars color-coded for 5 and 10-day lengths. Pocket pivot points are identified when the volume on a given day exceeds the maximum volume observed over the past several days. Specifically, a 5-day pocket pivot point is marked when today's volume surpasses the highest selling volume of the last 5 days. A cluster of 5-day pocket pivot points within a base is a strong indicator of stock strength. Similarly, a 10-day pocket pivot point following a Volume Dry-Up (VDU) suggests a potential entry opportunity. Moreover, a pre-existing cluster of 5-day pocket pivot points before a 10-day pocket pivot point provides greater conviction in the trade.
Volume Moving Averages: Set different lengths for primary and secondary moving averages to track volume trends over daily, weekly, and monthly timeframes. Options to display moving average lines on the volume chart.
Volume Visualization:
a. Major and Minor Volume Bars: Option to display bars that are either above or below average volume levels. Adjustable settings to show or hide these bars based on user preference.
b. Volume Bar Coloring: Volume bars are color-coded based on significant volume thresholds, including green for bullish signals, red for bearish signals, and orange for volume dry-ups.
Volume Metrics Table: A customizable table that displays real-time volume metrics including Relative Volume (RVOL), Turnover, and the number of high volume days. The table can be oriented horizontally or vertically and styled according to your theme preferences.
Visual Indicators:
a) Volume Dry-Up (VDU) Labels: Clearly marked VDU events with textual annotations on the chart.
b) Bullish and Bearish Arrows: Arrows indicating potential bullish or bearish closes based on volume analysis, enhancing decision-making.
Customization Options:
a) Dark and Light Theme Support: Toggle between dark and light themes to match your chart settings.
b) Adjustable Parameters: Easily configure input settings such as volume thresholds, MA lengths, and table display options to fit your trading style.
How to Use:
Set Parameters: Adjust the script settings such as volume thresholds, moving average lengths, and display preferences according to your analysis needs.
Analyze Volume Patterns: Use the indicators and visual markers provided by the script to identify significant volume patterns and potential trading signals.
Monitor Metrics: Refer to the volume metrics table for a quick overview of key volume-related statistics and trends.
Make Informed Decisions: Utilize the visual cues and volume data provided by the script to enhance your trading strategy and make more informed decisions.
Disclaimer:
This script is for informational purposes only and should not be considered as trading advice. Use it in conjunction with other analysis tools and consult with a financial advisor if needed. Trading involves risk, and past performance does not guarantee future results.
Current and Average Volume Table [CHE]Introduction:
The "Current and Average Volume Table " script is designed as a custom indicator for trading platforms that support Pine Script (specifically Pine Script version 5). This indicator provides a compact and informative table summarizing key volume-related metrics for financial instruments, enhancing traders' ability to analyze buying and selling dynamics over a specified period.
Description:
The script calculates and displays essential volume metrics in a customizable table format. It includes options for positioning the table on the chart (e.g., top-right, bottom-left) and adjusting its visual size (auto, huge, large, normal, small, tiny) to fit user preferences and chart layout.
Analysis:
The indicator computes several critical metrics:
Current Volume Metrics:
Current Volume: Displays the total volume traded in the current bar.
Buy Percentage (%): Indicates the proportion of the total volume attributed to buying activities.
Sell Percentage (%): Shows the percentage of the total volume attributed to selling activities.
Average Volume Metrics:
Average Volume: Calculates the simple moving average (SMA) of the volume over a specified number of bars. This provides a smoothed average volume figure, helping traders identify trends or anomalies in trading activity.
Average Buy Percentage (%): Computes the average percentage of buying volume over the SMA period.
Average Sell Percentage (%): Calculates the complementary percentage of selling volume over the SMA period.
The script uses conditional formatting to highlight cells based on comparative values of buy versus sell percentages and their averages. Green shades indicate higher buying activity, while red shades signify higher selling activity, providing a quick visual cue to traders.
Resume:
The "Current and Average Volume Table " script offers traders a concise and insightful tool to monitor and analyze volume dynamics. By displaying current and average volume metrics alongside buy and sell percentages, traders can quickly gauge market sentiment and potential trends. The customizable table placement and size options enhance usability, adapting to individual trading styles and chart preferences.
This script is ideal for traders seeking to incorporate volume analysis into their technical analysis toolkit, providing both real-time insights and historical trend comparisons to inform trading decisions effectively.
This description outlines the functionality, benefits, and practical applications of the script, catering to traders interested in volume-based analysis within the cryptocurrency and traditional financial markets.
Z-score Volume by SkreepanDescription:
This indicator calculates the Z-score of the trading volume over a specified period. The Z-score is a statistical measure that describes a value's relation to the mean of a group of values. In this context, it shows how far the current volume is from the average volume in terms of standard deviations.
Inputs:
ROC Length: The period used to calculate the Rate of Change (ROC) of the source price. Default is 9.
Source: The data series to calculate the ROC. Default is the closing price.
Period: The number of bars used to calculate the moving average and standard deviation of the volume. Default is 56.
Volume Z-Score Threshold: The threshold for the Z-score above which specific conditions will trigger visual markers. Default is 3.0.
Conditions:
A visual marker (triangle) is plotted on the chart when the following conditions are met:
1. The Volume Z-Score is greater than the specified threshold.
2. The open price is greater than the close price (indicating a bearish candle).
3. The ROC is less than -2.0 (indicating a significant downward movement).
Visualizations:
Markers are plotted on the chart when the conditions are met to highlight significant volume spikes under bearish conditions with strong downward price movement.
Note:
This indicator works by detecting anomalous volumes. When such volumes occur, it is considered a good signal to buy. The indicator performs well on 3-minute and 5-minute timeframes, but if you see a signal on the hourly timeframe, it serves as good confirmation on smaller timeframes. This indicator only works for buy signals.
If this indicator has been helpful to you, please leave a comment!
Enhanced Volume by SR7SiddharthaRay007's Enhanced Volume Indicator works on any Timeframe
⦿ Volume Labels:
1. Current Volume, Volume Change%, Average Volume, Average Doller Volume, Up/Down Ratio, ADR%.
=>Average value can be changed using 'Lookback Length' (Default: 20)
⦿ Simple Moving Average: MA (Default: 50). Color of MA changes based on the up down volume ratio.
1. Up/Down Ratio > 1: Blue
2. Up/Down Ratio < 1: Orange
⦿ Volume Bar Colors:
1. High Relative Volume Positive Candle: Lime Green .
2. High Relative Volume Negative Candle: Red .
3. Normal Volume Positive Candle: Blue .
4. Normal Volume Negative Candle: Fuchsia .
5. Low Relative Volume Positive/Negative Candle: Orange .
=>High Relative Volume > 300% of Average Volume; Low Relative Volume < 30% of Average Volume
⦿ Pocket Pivot (A pocket pivot is an up day with volume greater than any of the down days volume in the past 10 days)
1. 10 day Pocket Pivots: Lime Green Diamond below volume bar
2. 5 day Pocket Pivots: Blue Diamond below volume bar
⦿ 'Highest Volume (HV) ' on top of the Volume Bar:
1. Highest Volume Ever (HVE)
2. Highest Volume in Over a Year (HVY)
⦿ Projected Volume Bar: Aqua
⦿ Plot a line at 2x and 3x Average Volume and set Alerts
1. [Pufferman] - Comprehensive VolumeThis indicator presents a comprehensive approach to volume analysis, incorporating several key metrics to provide traders with a detailed view of market activity. Here's what's included:
1. Cumulative Relative Volume (Intraday): This metric accumulates volume data throughout the day, comparing it to historical session averages up to the current time. It's particularly useful for intraday analysis to determine if the stock is trading high or low volume before the day is over.
2. Real Relative Volume - This feature calculates the relative volume of a stock in comparison to the SPY, offering insight into whether a stock is trading with higher relative volume than the broader market.
3. Configurable Moving Average for Volume: Users can adjust the moving average period for average volume, allowing for flexible adaptation to different trading strategies and time frames. (green line in photo)
4. Above/Below Average Line: This line indicates whether the current volume bar exceeds or falls short of the session's average volume, providing immediate context for volume analysis. (red line in photo).
5. Volume Display in Abbreviations: Actual volume figures are presented in an abbreviated format, using "K" for thousands and "M" for millions, facilitating quick and easy analysis.
6. Color-Coded Relative and Real Relative Volume: Both the Relative Volume (RVOL) and Real Relative Volume (RRVOL) are color-coded to instantly convey volume concentration levels, enhancing visual analysis across multiple charts.
7. Volume Bars with Bullish and Bearish Highlights: Traditional volume bars are color-highlighted according to corresponding candle patterns, aiding in the identification of market sentiment.
Key Points:
The RVOL is a cumulative metric, considering time-of-day volume comparisons for intraday analysis. This approach offers a nuanced understanding of volume patterns specific to the timeframe being viewed.
The RRVOL provides a comparative analysis against the market, offering insights into stock-specific volume activity relative to market trends.
Note: This indicator is designed for intraday analysis and may not function as intended on timeframes above daily due to the cumulative nature of its volume calculations.
Volume Breakout [Afnan]Introducing the Relative Volume / Volume Breakout Multiplier (RVI) , RVI is specifically designed for traders who incorporate volume breakout analysis into their trading strategies, particularly breakout traders.
This indicator provides a unique perspective on volume dynamics by quantifying the extent of volume breakouts in relation to the Simple Moving Average (SMA). It offers an upgraded version of the default volume indicator on TradingView, with the added feature of Relative Volume.
For example, if the volume SMA is 100M and the current volume is 200M, the indicator will return a breakout number of 2.0, indicating that the current volume is twice that of the volume SMA. Conversely, if the volume SMA is 100M and the current volume is 50M, the indicator will return a value of 0.50, indicating that the current volume is half of the volume SMA.
This tool can be a very helpful for breakout traders, helping them identify potential trading opportunities and assess volume strength more effectively. this indicator is a must-have in the toolkit of any trader who focuses on volume breakout analysis.
Remember, every tool we use, every analysis we perform, is a step towards becoming better traders. So, let’s embrace this journey of continuous learning and improvement together. As the saying goes, “The only limit to our realization of tomorrow will be our doubts of today." Let’s step into the future with confidence, armed with the right tools and the right mindset.
Lastly, a big thank you for your support, your likes, and your comments. They mean a lot! If you have any questions, feel free to ask. Together, let’s make trading a rewarding experience!
Horizontal Lines from Current PriceThis indicator will help traders track price fluctuations in smaller time frames more conveniently than ever before.
Here's how it works:
Starting from the current price, the indicator will draw horizontal lines spaced 10% apart.
Now, whenever zooming in or out of the chart, traders can visually determine the level of price volatility more easily.
Additionally, we also provide volume display (measured in USD) at the current candle position to assist traders in keeping track of market momentum more closely.
Installation guide for indicators:
After installing the indicator, make sure that the indicator is merged with the price chart.
Secondly, ensure that the scale bar of the indicator merges with the scale bar of the price chart.
Emibap's HEX Uniswap v3 Liquidity PoolThis script will display a histogram of the Uniswap V3 HEX liquidity pool, versus as many tokens as possible.
Current supported pairs:
HEX/USDC
HEX/WETH
HEX/WETH.USD (Ethereum expressed in USD)
HEX/USDT (Just showing the USDC liquidity)
Similar to what you can see in the liquidity section of the Uniswap pool page but conveniently rendered alongside your chart.
It's meant to be used on a HEX / WETH chart only. The price should be expressed in WETH for it to work.
One of the main motivations for using this in your chart is to get an idea of the current sentiment: If most of the volume is above the price it might be an indication of an upcoming move up, for instance.
I'll try to update the liquidity regularly.
Using the 4h, daily, or weekly time frames is highly recommended.
The options are straightforward:
Histogram bars color. Default is blue
Histogram background color. Default is black at 20% opacity
Upper price limit of the diagram: Visible upper bound price limit for the histogram, based on the current price. I.E: 200%: If the price is 1, the histogram will show 3 as the upper bound
Lower price limit of the diagram. Visible lower bound price limit for the histogram, based on the current price. I.E: 99%: If the price is 1, the histogram will show 0. 01 as the upper bound
Width of the widest bar: Width (in bars) for the widest bar of the histogram. The more the higher resolution you'll get
Locked volume marker line thickness
Locked volume marker color
RVOL/ExpVol/ATR/ExpRGives 4 values:
- Relative Volume: needs the first 5M candle to have closed to give a good value then updates every 5 minute throughout the day. Compares to the historical Volume on the last 30 days on the SAME time period from Open.
Most indicators compare to the average volume on any 30min period, thus highly overestimating the RVOL at Open when Volume is higher.
- Expected Volume on the day in Million of shares given the RVOL.
- Average True Range on the last 14 days
- Expected Range on the day given the ATR & the RVOL.
Warning: Expected Range is just an estimation from data I gathered but the Day's range can be way higher or lower than that. Also if RVOL > 3 then the estimation works less & less.
As this was originally coded just for me I don't ask user input for things like the lookback period or the refresh period. You have to make a copy & go in the code and modify it if you want to change it.
Also the data displayed is given for the candle on which your cursor is !
Works best on 5-minute and above chart timeframes.
Volume Oscillators Focus IndicatorVolume Oscillators Focus Indicator
Short name VolumeFocus
This indicator seeks to show episodes of high and low volumes analyzing these by calculating three lines and create colorings on the basis of where these lines go relative to each other.
The first line is a percent based on the current volume level, for which a 3 period sma is taken.
It is calculated by using the lowest volume in the lookback as zero, the highest as 100 percent
This line is called “current volume level”
The second line is a percent, based on the median volume of the last five periods. This line is called “new normal volume”
The third line is a percent, based on the median volume of the lookback period. This is called “old normal volume”
For the second and third line the lowest “new normal volume” in the lookback is used as zero while the 100 percent level is the same as in the calculation of the first line.
The reasoning for the colors is as follows:
When both current en new normal level are below old normal, the volume is to be considered ‘low’. When volume is low, the background color is gray and the fill color between the old normal and current lines is navy.
When both current and new normal level are above old normal, the volume is to be considered ‘significantly expanded’. When this happens the fill color between current and old normal is orange.
When volume is not low it is considered normal or high and the background color is green.
The lookback is set to 50, it advise to keep it that way.
Use of the indicator.
Volume results from focus of the market on the instrument. When the price seems correct, some buy it, some sell it but most don’t care. Then the volume is low, the background is gray. The navy fill color indicates ‘how low’.
When the price seems off, many will care and start trading. Then volume is high, background is green. When the trading is really heating up the orange fill color appears, showing that the market has high focus on this instrument, perhaps move in a trend.
Of course we don’t know in which way the market tries to ‘correct’ the price, for that purpose I use this indicator together with REVE Cohorts which provide useful markers to explain what the excess volume means.
Eykpunter
Relative Volume Intensity Control Chart***NOTE THE VOLUME OSCILATOR PROVIDED AT THE BOTTOM IS FOR COMPARSION AND IS NOT PART OF THE INDICATOR****
This indicator provides a comprehensive and a nuanced representation of volume relative to historical volume. The indicator aims to provide insights into the relative intensity of trading volume compared to historical data. It calculates two types of relative volume intensity: mean volume intensity and point volume intensity. The final indicator, "Relative_volume_intensity," is a combination of these two.
1. Point Volume Intensity:
Calculate the ratio of the current volume to the corresponding SMA from the previous period for each of the periods.
Normalize each ratio by dividing it by the corresponding normalized SMA.
Assign weights to each normalized ratio and calculate the point volume intensity.
Point volume intensity calculates the intensity of the current trading volume at a specific point in time relative to its historical moving average. It assesses how much the current volume deviates from the previous historical average for different lookback periods(current volume/ average volume of previous n days). The calculation involves dividing the current volume by the corresponding previous historical moving average and normalizing the result. The purpose of point volume intensity is to capture the immediate impact of the current volume on the overall intensity, providing a more dynamic and responsive measure.
2. Mean Volume Intensity:
Calculate the simple moving averages (SMA) of the volume for different periods (5, 8, 13, 21, 34, 55, 89, 144).
Normalize each SMA by dividing it by the SMA with the longest lookback (144).
Assign weights to each normalized SMA and calculate the mean volume intensity.
Mean volume intensity, on the other hand, takes a broader approach by looking at the mean (average) of various historical moving averages of volume. Instead of focusing on the current volume alone, it considers the historical average intensity over multiple periods. The purpose of mean volume intensity is to provide a smoother and more stable representation of the overall historical volume intensity. It helps filter out short-term fluctuations and provides a more comprehensive view of how the current volume compares to historical norms.
Purpose of Both:
Both point volume intensity and mean volume intensity contribute to the calculation of the final indicator, "Relative_volume_intensity." The idea is to combine these two perspectives to create a more comprehensive measure of relative volume intensity. By assigning equal weights to both components and taking a balanced approach, the indicator aims to capture both short-term spikes in volume and trends in volume intensity over a relatively extended periods.
In calculation of both point volume intensity and mean volume intensity, shorter-term moving averages (e.g., 5, 8) have higher weights, suggesting a greater emphasis on recent volume behavior.
Visualization:
The script then calculates the mean and standard deviation of the relative volume intensity over a specified lookback length.
Plot lines for the centerline (mean), upper and lower 3 standard deviations, upper and lower 2 standard deviations, and upper and lower 1 standard deviation.
Plot the relative volume intensity as a step line with diamond markers.
It is displayed like a control chart where we can see how the relative intensity is behaving when compared to longer historical lookback period.
ka66: Normalised/Relative VolumeThis is an idea taken from a John Bollinger (of Bollinger Bands fame) talk. Instead of showing volume with a moving average overlay, we show volume relative to its moving average:
avgVolume = sma(volume, 10) // several configurable MAs allowed
relativeVolume = volume / avgVolume
Now if we get a value of 1, that means the current volume is the same as its historical average. Under 0, less than average, and above zero, greater than its average.
If we get a value like 2, then current volume is twice its average. I hope the implication of this being displayed visually is becoming clearer.
We plot this relative volume as columns.
We then plot horizontal levels, like 1, 2, 3 to see the magnitude of the current volume relative to its average.
Consecutive rising or falling relative volume is shown in the same colour.
I am still exploring volume as trading data point, but we see some ideas from this visual representation:
How do volume patterns change across timeframes? Do we get better signals or higher or lower time frames (e.g. big relative volume spikes)
Can consecutive rises or falls indicate a big potential move, even though price is just fluctuating.
What about a switch from rise to fall.
If we get pinbars/spikes with a big relative volume spike, can we then infer more clearly whether buyers or sellers are in control.
Intraday Volume Rating [Honestcowboy]The Intraday Volume Rating aims to provide a clearer picture of what volume is telling you on intraday charts.
What is different to other forms of volume analysis
While Volume averages and other measures of volume base their calculations on the previous bars on the chart (for example bars 1954 to 1968). The average volume in this indicator measures expected volume during that time of the day.
🔷 Why would you take this approach?
Markets behave different during certain times of the day, also called sessions.
Here are a couple examples.
Asian Session (generally low volatility)
London Session (bigger volatility starts)
New York Session (overlap of New York with London creates huge volatility)
Generally when using other types of volume averaging it does not take into account these sessions and that the market has a pattern for volume in an intraday chart.
🔷 CALCULATION
Think of this script like an average of volume but instead it uses past days data instead of previous bars data.
This is a chart explaining the indicator this script is based on The same principle applies but instead we measure volume at each bar of the day.
The script also counts the number of bars that exist in a day on your current timeframe chart. After knowing that number it creates the matrix used in it's calculations and data storage.
See how it works perfectly on a lower timeframe chart below:
Getting this right was the hardest part, check the coding if you are interested in this type of stuff. I commented every step in the coding process.
Every setting of the script is commented so no need for further explanation, enjoy!
Market Open - Relative VolumeThe indicator calculates the Pre-market volume percentage of the current day, relative to the average volume being traded in the trading session (14 days), displayed in Table Row 1, Table Cell 1, as V%. Pre-market volume between 15% & 30% has a orange background color. Pre-market volume percentage above 30% has a green background color.
The indicator calculates the relative volume per candle relative to the average volume being traded in that time period (14 days) (e.g., "1M," "2M," up to "5M"), displayed in a table. Relative volume between 250% & 350% has a orange background color. Relative volume above 350% has a green background color.
FYI >> Indicator calculations are per candle, not time unit (due to pine script restrictions). Meaning, the indicator current table data is only accurate in the 1M chart. If you are using the indicator in a higher timeframe, e.g., on the 5M chart, then the values in table cells >> (1M value == relative volume of the first 5-minute candle) (5M value = relative volume of the first five 5-minute candles) and so on. (Future versions will have a dynamic table).
YD_Volume_Alert"YD_Volume_Alert" is a simple alert based on the increasing volume.
Although it is a simple indicator, strategies to determine accumulation and distribution can be developed using this indicator, which will also be published as well.
📌 Usage, Details and Alert
Using this indicator is simple.
You can enter two scales, "Increased Percentage 1 (%)" and "Increased Percentage 2 (%)", with default values set to 200% and 500%.
Signals are displayed in green and red triangles at the bottom of the bar, also printed with the text "Increased Volume" and "Hugely increased Volume".
Alerts are provided as a combination of the chart's symbol and the set percentage. For example,
"BINANCE:BTCUSDT.P 's Volume : 200% increased."
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"YD_Volume_Alert" 는 거래량 증가에 따른 얼러트를 제공하는 간단한 지표입니다.
간단한 지표이지만 위 지표를 이용하여 매집과 매도의 타이밍으로 이용하는 전략 또한 개발할 수 있으며, 이 역시도 퍼블리시 할 예정입니다.
📌 사용 예시와 알림 설정
지표를 사용하는 방법은 간단합니다.
"Increased Percentage 1 (%)" 과 "Increased Percentage 2 (%)" 두 가지의 배율을 입력할 수 있으며, 기본값은 200%와 500%로 설정되어 있습니다.
시그널은 바 하단에 초록색, 빨간색 삼각형으로 각각 표시되며, "Increased Volume"과 "Hugely increased Volume"이라는 텍스트가 함께 출력됩니다.
얼러트는 자신이 설정한 차트의 심볼과 설정한 퍼센티지의 조합으로 제공되며 예를 들면 다음과 같습니다.
"BINANCE:BTCUSDT.P 's Volume : 200% increased."
Strategy - Relative Volume GainersStrategy - Relative Volume Gainers
Overview:
This trading strategy, called "Relative Volume Gainers," is designed for Long Entry opportunities in the stock market. The strategy aims to identify potential trading candidates based on specific technical conditions, including volume, price movements, and indicator alignments.
Strategy Rules:
The strategy is focused solely on Long Entry positions.
The volume for the current trading day must be greater than or equal to the volume of the previous day.
The percentage change in price must be greater than or equal to 2.5%.
The Last Traded Price (LTP) must be greater than or equal to the Exponential Moving Average (EMA) 200.
The Relative Volume for the current trading day (calculated over the last 30 days) must be greater than or equal to the Simple Moving Average (SMA) of Relative Volume over the same 30 days.
The current candle on the chart should be Green or Bullish, indicating positive price movement.
The price difference between bid and ask prices should be kept to a minimum.
It's recommended to also analyze market depth for better insights.
Strategy Requirements:
Add the Exponential Moving Average (EMA) 200 to your trading chart.
This strategy can be applied on charts of any timeframe.
For intraday trading, particularly for early entry, consider using a 1-minute timeframe.
It is advisable to create a screener to identify potential trades in real-time market conditions.
Risk Warning:
Stocks that meet the strategy criteria might exhibit high volatility and a high beta, making them inherently risky to trade. Exercise caution and adhere to predetermined risk management strategies.
Determine your trading quantity based on your entry price and stop loss in order to manage risk effectively.
Quantity Calculation Formula:
Quantity calculation is crucial to manage risk and position sizing. The following formulas can be used based on your trading scenario:
Quantity with Leverage:
Quantity = (((Using Capital / 100) * Risk Percent) / (Entry Price - Stop Loss)) * Leverage
Eg: Quantity = (((10000 / 100) * 0.2) / (405.5 - 398.5)) * 5
Quantity = 14
Risk = Rs.100 (Rs.100 is 1% of Rs.10000. So the risk is 1%, means we lose only Rs.100 when the SL is hit. If SL is increased the Quantity will get reduced to maintain a fixed risk of Rs.100)
Quantity without Leverage:
Quantity = (((Using Capital / 100) * Risk Percent) / (Entry Price - Stop Loss))
Note:
Always stay informed about market conditions and be prepared for potential rapid price movements when trading stocks that meet the strategy criteria. Strictly adhere to your predefined risk management strategy to safeguard your capital.
Volume Suite - By Leviathan (CVD, Volume Delta, Relative Volume)Volume Suite is an all-in-one script that includes several volume-based indicators such as CVD, Volume Delta, Relative Volume, Buy/Sell Volume, Cumulative Relative Volume and more. Additionally, it offers fully customisable appearance and features for improved data visualization, such as highlights for high volume activity, small price changes with high volume, or large price changes with low volume and more.
Data available in version 1:
- Volume Delta
Volume Delta is the net difference between Buy Volume and Sell Volume at a given bar. Positive Delta indicates that Buy Volume > Sell Volume, while Negative Delta means that Sell Volume > Buy Volume. As there is not way to get tick data on Tradingview, calculating Volume Delta is improvised by using the direction of lower timeframe candles and their volume.
- Cumulative Volume Delta (CVD)
CVD is a running total/cumulation of Volume Delta values, where positive VD gets added to the sum and negative VD gets subtracted from the sum. It can be used for trend strength analysis, divergence strategies, sentiment, etc.
- Buy/Sell Volume
Buy and Sell Volume provides an insight into volume activity in a given bar by estimating the buying/selling volume based on the direction of lower timeframe candles and their volume.
- Relative Volume
Relative Volume is used to compare current trading volume to past trading volume over a given period. For instance, a relative volume of 1.0 indicates that volume is at an average level, while a relative volume of 2.0 suggests that the volume is twice as high as the average.
- Cumulative Relative Volume (CRVOL)
CRVOL is a running total/cumulation of Relative Volume values, where RVOL at close>open gets added to the sum and RVOL at close<open gets subtracted from the sum. It can be used for trend strength analysis, divergence strategies, sentiment, etc.
Alerts, aggregated data and more data sets coming in future updates.
Crypto Aggregated Volume «NoaTrader»If you use volume in your crypto analysis, you may have encountered the situation which an exchange's policy change can affect your judgement falsely. For example, you can see the huge difference of volume on the given chart since binance transferred its fee discount from USDT to TUSD pair.
This script sums up volume of all major centralized exchanges ( according to coinmarketcap ) on the symbol you are visiting and has an option to exclude Binance's volume which can give you a more stable understanding for judgement when needed (and you can see the difference on the chart).
The colors also give a good vision about the relative volume in the area which can show the interest of market in trading.
The script only aggregates the same symbol on different exchanges and does not get the volume from other pairs.
Included CEXs are:
binance
bitstamp
coinbase
huobi
kraken
bitfinex
bybit
okx
kucoin
bithumb
Relative VolumeHello traders,
"There's nothing new on Wall Street" is an age-old saying that still shows its relevance in modern day financial markets; volume still serves as a valuable tool for any trader just as it did for those that came and succeeded before us; in order to succeed in modern day markets one has to take it up a notch and dabble in complicated topics, like math. Now I dunno about you reader but I’m not keen on sitting around all day just to watch numbers on a screen; it’s pretty important to add some color into your life before it becomes dull but how can someone add colors into their trading toolkit as an aid rather than bother? With a bit of help from 3 other amazing open-source indicators you too can become a statistics enjoyer by combining math and colors to make pattern recognition much more intuitive and offering more peace of mind when trading. “Sir but how?”, glad you didn’t ask, it helps with simplifying statistics, in this case a Gaussian bellcurve
“HUH?”, you say? Alright class, Gaussian bellcurves for math dislikers 101 is in session
- Imagine that we have a bunch of numbers that we want to graph. We could just draw a line and plot the numbers on it, but that might not be very interesting.
- Instead, we can use the shape of a bell to show how many of each number we have.
- Let's say we have a lot of people and we want to graph how tall they are. We would start by making a line from the shortest person to the tallest person, and then we would draw the bell shape around the line.
- The bell shape is called a "Gaussian Bell Curve," and it shows us how many people are a certain height.
- In the middle of the bell, where it's the widest, we have the most people who are about average height. As we move to the sides of the bell, the curve gets lower because there are fewer people who are really tall or really short.
The bell curve discussed is the main idea for the candle coloring component of this indicator as being able to analyze the distribution of an entire dataset, in this case volume, can alert us when volume/participation in the market is away from its average using color, and therefore an opportunity could be present. Fair warning, it’s important to not strictly focus on volume as volume is meant to be confluence to the current structure of the market rather than causing tunnel vision.
Why 3 indicators to combine?
It starts with the RVOL by Mik3Christ3ns3n indicator as the backbone by calculating the average volume over a specified period of time, and then compares each new volume value to this average to determine whether it is above or below the average. The indicator then normalizes the volume data and calculates the z-score/standard deviation to determine whether the volume is within normal range or is an anomaly beyond a specified threshold which can also be set into an alert to aid in eyeing possible opportunities.
The code also includes Candle Coloring by Morty as it calculates a function to get the z-score for the size of the candle's body, and then compares it to the z-score for volume to determine whether the body size is a factor in the price action.
Finally, the code plots the anomalies and the normalized volume data on the chart using the first RVOL indicator mentioned, and colors the bars of the chart based on whether they are within normal range or are anomalies which comes from using code from veryfid's relative volume indicator.
Overall, this custom technical indicator is best used to identify unusual changes in trading volume, which may indicate potential price movements in the underlying.
How about some examples?
This first example is for my scalpers wanting to get in and out but not having much of an idea where or let alone how; using a tool like VWAP can be great for determining the area value to execute mean reversion trades once a speculator spots a colored candle anomaly at standard deviation band. Works best when VWAP is flat as it signals lack of conviction from both bulls and bears
This second example is for my fire and forget intraweek swing traders who want to execute a higher timeframe trend-following bias. A speculator starting 2023 off notices that the negative sentiment around Binance from late last year has quieted down and has conviction in upside after BTC began an uptrend as monthly VWAP (right chart) has began sloping up as well as a rally with momentum shown with the blue colored candle so the trader waits wait for a pullback for entry. On the chart to the left of the 4H the speculator notices a pullback into the area of interest to do business so a limit bid is left to enter for continued upside in Bitcoin through January 2023 just by keeping things simple
That’s really the main purpose of this indicator: simplicity of statistics for confluence using volume
Volume precedes price and price moves only for narrative to follow- why wait for your subjective Twitter timeline to give you a biased narrative to trade when you can use objective analysis by combining statistics and colors to allow for a cleaner execution process
“But what about risk management?” Glad you didn’t ask reader!
One last example then, we meet our trend following trader again feeling euphoric so they know profit taking season is coming soon but wants to leave emotion out of it. How to go about it? Same idea as our last trend following example: we see on the 4h chart to the right side shows Bitcoin lose and trade back within the 2nd standard deviation of quarterly VWAP which is telling our speculator that the uptrend has broken on top of which notices on the 30 minute chart on the left that aggressive market buyers have been steadily absorbed by limit sellers on multiple occasions of retesting 30,500 shown with the green colored candles and volume bars below, time to sell.
Turns out that selling was proactive risk management because price dumped thereafter
Hope this explanation gave you some useful insights on using statistics as colors from cherrypicked examples, remember that just because my examples are cherrypicked doesn’t invalidate these concepts at all as the market only does two things, initiate aggressive auctions and respond passively to auctions. This tool makes for seeing where that initiative aggressive activity is happening much simpler to deduce if others will respond to an anomaly of initiative aggressive activity or if the aggression will continue.
If there’s just one thing you take from this- simplicity above all, cheers and good luck
Volume Candlesticks [cajole]
This script lets you create the equivalent of "volume candlesticks" in TradingView.
"Volume candlesticks" normally vary their width according to the bar's volume. This script varies COLOUR instead of WIDTH.
Bar charts are also supported.
Candles/Bars are coloured by their distance from the average volume. You can also add a "huge volume" colour to further highlight the most extremely-high volume bars.
Note that volume is extrapolated for incomplete bars by default. So, if the average volume of the past 10 days is 5M shares, and 5M shares trade in the first 10% of today's session, that bar will be coloured as though 50M shares have traded. Set the "Extrapolate" option to 1.0 to disable this.
For this script to work properly, you should set TradingView's default candle/bar colours to be at least 20% transparent. By default, TradingView tends to overlay its own bars on top of indicators.
Nerdy details:
The script works best on a dark background, because it is easier to change the hue of white bars than of black bars. If you find a set of colours that work for white backgrounds, please comment with them!
The geometric mean is used instead of the arithmetic mean, to keep the 'average' from being strongly influenced by spikes. Bars are
then coloured by assuming a normal probability distribution and highlighting outliers. (This means that the first high-volume bars are coloured differently to later ones.)
Trading Zones based on RS / Volume / PullbackThis is an Indicator which identifies different Trading Zones on the chart.
This should be Primarily used for Long Trades.
Trading Zones: and the Reasoning behind them
Long Zone -> One can do a Potential Entry (Buy) when this Zone is identified, but one could also wait for 'Entry Zone' (explained next) for a better Risk/Reward Trade.
Long Zones are identified with the help of Relative Strength and by an Intermediate Top in price.
Entry Zone -> This can be a better Risk/Reward zone to enter positions within the Long Zone.
Entry Zone is identified by a Pullback in Price & Volume contraction after the Long Zone is activated
Warning Zone -> One needs to be careful in this zone, no need to panic, Script will now try to find an Exit when Price Retraces towards Highs.
Warning Zone identifies weakness in the Price using Relative Strength of the current Stock (w.r.t. the Reference Symbol configured) and the severity of Pullback in Price.
Exit Zone -> are found only after transitioning to Warning Zone, this is a Zone which helps in minimising losses after a trade has gone into losses. Exit Zone is identified by making sure a local peak forms in Warning Zone. However, there are instances when Exit Zone detection can get prolonged when a local price peak is not formed soon enough. So one needs to be careful and use other strategies for exit.
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What is different in this Script:
The Script uses Relative Strength in combination with Pullback in Price from Highs in a Novel way.
Over-trading is avoided by ignoring Sideways price movements, using Relative Strength.
Only Trending Upward movement is detected and traded.
How to use this Indicator:
Use these 'Trading Zones' only as a reference so it can minimise your time in screening stocks.
Preferred Settings for using the Indicator:
Stick to 1-Day candles
Keep Relative Symbol as "Nifty" for Indian Stocks.
For US stocks, we can use "SPX" as the Relative Symbol.
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FEW EXAMPLES:
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ASIANPAINT
TATAMOTORS
TITAN
ITC
DIVISLAB
MARUTI
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Feedback is welcome.
