Heatmap Volume [xdecow]

This indicator colors the volume bars and candles according to the volume traded. The calculation of the heat map zones is done as follows:
how many standard deviations the volume are distant from the average volume?

For a better visual experience, place the borders and wicks of the candles in a neutral color.
Release Notes: Added abbreviated numbers to scale
Release Notes: Added options to show thresholds lines
Release Notes: Option to select heatmap zones as lines or backgrounds.
Small fix in the plots order.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?


500 coins
+5 Svara
shubham95babar PineCoders
@PineCoders, bro it is does not work in nifty and banknifty,
virajmokadam shubham95babar
@shubham95babar, Try with FUTURES of NIFTY /BANK NIFTY. Underlying index does not have volume data so it will not display.
This script is awesome--what a cool idea. Really helps to see charts in a whole new way.

I'm wondering if there's a way to show volume as smaller numbers like 3.2M or 239.3K?
+21 Svara
xdecow bad_nerd
@bad_nerd, updated
thanks for your feedback :)
+2 Svara
bad_nerd xdecow
@xdecow, That's great, thanks!
look very good.. but can any one explain me how we can use it?
tanks in advance
+19 Svara
Itakepips barbosadasilvat
@barbosadasilvat, study Wychoff
+2 Svara
This publication is now featured in our Editors' Picks. In the name of all TradingView traders, thank you for your valuable contribution to the TradingView community, and congrats!
+13 Svara
xdecow PineCoders
@PineCoders, Thanks a lot. I'm glad to be able to contribute :)
+8 Svara