OPEN-SOURCE SCRIPT
Volume Extension [DepthHouse]
Updated
DepthHouse Volume Extension uses average calculations to determine the dynamic range which the volume travels through. Any spike above the line represents an over extension in average volume.
The colored bars are then calculated in a similar way, which measures a combination of both price and volume action to determine bull & bear exhaustion levels, and possible entry/exit points for big players.
This indicator is 100% free, so if you benefit from using it, please consider supporting me by checking out the several other indicators available on my page :)
The colored bars are then calculated in a similar way, which measures a combination of both price and volume action to determine bull & bear exhaustion levels, and possible entry/exit points for big players.
This indicator is 100% free, so if you benefit from using it, please consider supporting me by checking out the several other indicators available on my page :)
Release Notes
fixed extension reading lag
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.