OPEN-SOURCE SCRIPT
Volume-Based Moving Average
Title:
Volume-Based Moving Average
Description:
The Volume-Based Moving Average is a versatile tool that calculates price averages based on cumulative traded volume, highlighting the price levels where significant market participation has occurred. By combining volume-weighted averages with slope confirmation, it helps traders detect trending conditions and potential reversals in real time.
Key Features:
• Volume- Based Average: Computes moving averages based on a volume-period lookback.
• Multi-Source Flexibility: Supports different price inputs, including Close, HL2, HLC3, OHLC4, or High & Low, giving traders control over calculation style.
• Slope Confirmation: Detects sustained upward or downward trends by confirming slope direction over multiple bars, reducing noise from short-term fluctuations.
• Dynamic Coloring: Average lines change color based on trend direction, providing instant visual cues for bullish or bearish momentum.
Inputs & Settings:
• Target Volume for cumulative calculation
• Price Source options (Close, HL2, HLC3, OHLC4, High & Low)
• Slope Confirmation Bars to determine sustained trend direction
• Color customization based on trend slope
Usage:
This indicator helps traders:
• Identify key price levels supported by high trading volume
• Spot emerging bullish or bearish trends based on slope confirmation
• Filter out short-term noise in fast-moving markets
• Enhance trend-following or volume-based trading strategies
• Explore the market from a new, original perspective
How to Calibrate:
1. Open your preferred trading timeframe
2. Use the following volume amounts to get a ballpark estimate for your trading speed: 1,000,000; 500,000; 250,000; 100,000; 50,000; 25,000; 10,000; 5,000
3. Adjust to personal preference.
Technical Notes:
• If the moving average does not adjust and is anchored to candles, the broker you are using may not be providing the volume data needed for this to work. Try switching to a different broker for your instrument.
• If the moving average does not show at all, your volume input needs to be reduced (depends on amount of loopback data your broker provides. Again, you may need to check out a different broker if this issue occurs.
• Designed for standard OHLC charts; non-standard chart types may produce inconsistent results.
• Past signals do not guarantee future market behavior; always combine with proper risk management.
• Experiment with volume calibration before using in live trades.
Volume-Based Moving Average
Description:
The Volume-Based Moving Average is a versatile tool that calculates price averages based on cumulative traded volume, highlighting the price levels where significant market participation has occurred. By combining volume-weighted averages with slope confirmation, it helps traders detect trending conditions and potential reversals in real time.
Key Features:
• Volume- Based Average: Computes moving averages based on a volume-period lookback.
• Multi-Source Flexibility: Supports different price inputs, including Close, HL2, HLC3, OHLC4, or High & Low, giving traders control over calculation style.
• Slope Confirmation: Detects sustained upward or downward trends by confirming slope direction over multiple bars, reducing noise from short-term fluctuations.
• Dynamic Coloring: Average lines change color based on trend direction, providing instant visual cues for bullish or bearish momentum.
Inputs & Settings:
• Target Volume for cumulative calculation
• Price Source options (Close, HL2, HLC3, OHLC4, High & Low)
• Slope Confirmation Bars to determine sustained trend direction
• Color customization based on trend slope
Usage:
This indicator helps traders:
• Identify key price levels supported by high trading volume
• Spot emerging bullish or bearish trends based on slope confirmation
• Filter out short-term noise in fast-moving markets
• Enhance trend-following or volume-based trading strategies
• Explore the market from a new, original perspective
How to Calibrate:
1. Open your preferred trading timeframe
2. Use the following volume amounts to get a ballpark estimate for your trading speed: 1,000,000; 500,000; 250,000; 100,000; 50,000; 25,000; 10,000; 5,000
3. Adjust to personal preference.
Technical Notes:
• If the moving average does not adjust and is anchored to candles, the broker you are using may not be providing the volume data needed for this to work. Try switching to a different broker for your instrument.
• If the moving average does not show at all, your volume input needs to be reduced (depends on amount of loopback data your broker provides. Again, you may need to check out a different broker if this issue occurs.
• Designed for standard OHLC charts; non-standard chart types may produce inconsistent results.
• Past signals do not guarantee future market behavior; always combine with proper risk management.
• Experiment with volume calibration before using in live trades.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.