dman103

Volume Trend Meter

Sweet little indicator which measures volume pressure over a specific period of time.
i call it Volume Trend Meter, or just VTM ,
The indicator sums up all green candles volume and red candles volumes over a specific period of bars (you set in settings) and plots their values.
Use this indicator to identify increasing volume with the green candles (close higher than open) and increasing volume of the red candles (close is lower than open).

======= Calculation ==========
For Green Column: Total volume of green candles is higher than total red candles volume .
For Red Column: Total volume of red candles is higher than total green candles volume .

======= Volume Trend Meter Colors =======
Green: Increasing buying pressure.
Red: Increasing selling pressure.

Like if you like and Follow me for upcoming indicators/strategies.
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?
Appreciation of my work: https://paypal.me/dman103

Premium Pivot Points Algo Indicator: https://www.tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/

Kommentarer

This is sweet little indicator - as you put it!

Thank you!
+2 Svara
dman103 Maximilianned
@Maximilianned, Thank you for you sweet comment.
+1 Svara
Hi,

Is someone able to create only colums on 1 side. For me its only important to see if its a red or a green bar. And nog on which side. That safes me a bit of space for my overview.

Thanks.
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Great indicator!!
Svara
Very beautiful!!
Will you be adding any alerts by any chance? Would be epic to see how this could work using 1HR chart.
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dman103 marquism
@marquism, Thanks, this indicator is meant to be used as assistance to detect volume pressure, however, will consider adding alerts.
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Nice work!
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dman103 John4146
@John4146, Cheers!
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