LARP_Capital

1337 Volume

This volume indicator gives you a unique perspective and ability to analyze volume in any market. The upper line that is always >=0 represents average up volume over a user definable period while the lower line that is always <= 0 represents the average down volume over a user definable period.

green == bullish candle but volume lower than average
lime == bullish candle with above average volume
crimson == bearish candle with below average volume
red == bearish candle with above average volume

This indicator is very useful for spotting bottoms / tops (do a visual backtest and observe its behavior) as well as entry opportunities.

By default, the lookback period for average volume is 7, but I encourage you to change this value in order to find settings that work best for your particular market.

If you have any feedback or ideas for improvement, please comment.

Enjoy :D
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Kommentarer

Note: You can also use the two lines to visualize volume squeeze ;)
+8 Svara
Please explain to me the numbers shown on the right. Is that the amount of stock being traded?
Thank you so much for your dedication.
Svara
Good one, can't believe I didn't find this earlier.. Thanks for the script :)
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