This script adds a volume indicator that is normalized by SMA(50) by default. This will help you easily see whether the volume is _actually_ high or not. It also highlights when volume is exceeding the average by making the column a darker color.
Caveats: * This changes the volume into a percentage, so don't use this number for calculations
Hints: * Make sure to set your "bottom margin" to 0% or the volume chart will appear to be floating above the bottom
Versionsinformation
⋅
Better constraint of the volume bars. Now they're set to 70% of the max left-bar height. Also, added monochrome mode.
@vosechu, Hi, I am not sure where the settings are to change the bottom margin to 0%, where do i do this?
vosechu
⋅
This looks super duper nice in grayscale also.
herve76
⋅
how do you create an alert with this indicator?
vosechu
⋅
@hervexx, It's pretty easy, but my screenshotter is frozen atm, so I'll do it via text.
Right click anywhere and click Create Alert. Once in there, select NV as the condition, "Crossing", and Value set to 100. Then I usually set the frequency to "Once per bar (on condition)".
If you want a stronger indicator, you could do it at 120 or 150. It may feel too late, but it's still a pretty good indicator that the trend is changing on some direction.