OPEN-SOURCE SCRIPT
Lemon/Lime Volume Lookback Indicator
The indicator focuses on analyzing volume patterns.
It calculates a relative volume metric by comparing the current volume to a short-term simple moving average of volume.
The code identifies volume spikes when the relative volume exceeds a user-defined threshold.
These volume spikes are visually represented on the chart as small circles:
Yellow circles appear above bars for bearish volume spikes (when price closed lower)
Green circles appear below bars for bullish volume spikes (when price closed higher)
Users can adjust settings such as the lookback period for volume comparison and the percentage increase that defines a volume spike. This would adjust the readings based on incoming volume. Adjust as needed during different market conditions.
This tool essentially helps traders identify and visualize significant increases in trading volume compared to recent average volume, which could potentially signal important price movements or trend changes.
It calculates a relative volume metric by comparing the current volume to a short-term simple moving average of volume.
The code identifies volume spikes when the relative volume exceeds a user-defined threshold.
These volume spikes are visually represented on the chart as small circles:
Yellow circles appear above bars for bearish volume spikes (when price closed lower)
Green circles appear below bars for bullish volume spikes (when price closed higher)
Users can adjust settings such as the lookback period for volume comparison and the percentage increase that defines a volume spike. This would adjust the readings based on incoming volume. Adjust as needed during different market conditions.
This tool essentially helps traders identify and visualize significant increases in trading volume compared to recent average volume, which could potentially signal important price movements or trend changes.
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.