OPEN-SOURCE SCRIPT
Volume Spike Analysis [marketsurvivalist]
This indicator is based on the ideas about Volume Spike Analysis written about by Vincent Kott in his book Volume Spike Analysis. Formulas are presented in the book for another platform, but I wrote the script based on the charts he provided.
The indicator basically takes out the noise and colors bars based on factors of time and volume for day. There are three different time periods you can set: Short, Medium, Long. Each period can be set with a different color. The period value looks for highest volume bar within that period. If today's volume bar is the hightest value, it colors the volume bar based on the formatted color. It does not matter if the price bar is up or down. The defaults are 4 days, 20 days, 100 days. There is also a volume moving average available to show or hide based on you trading style.
The purpose is to easily see changes in volume. Typically, you would like to see volume rising as a new trend begins. This will show up quickly as you will see a cluster of rising red and / or purple bars.
The indicator basically takes out the noise and colors bars based on factors of time and volume for day. There are three different time periods you can set: Short, Medium, Long. Each period can be set with a different color. The period value looks for highest volume bar within that period. If today's volume bar is the hightest value, it colors the volume bar based on the formatted color. It does not matter if the price bar is up or down. The defaults are 4 days, 20 days, 100 days. There is also a volume moving average available to show or hide based on you trading style.
The purpose is to easily see changes in volume. Typically, you would like to see volume rising as a new trend begins. This will show up quickly as you will see a cluster of rising red and / or purple bars.
Script de código abierto
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.