OPEN-SOURCE SCRIPT
Volume, Relative Volume Highlight
Updated
The indicator plots regular volume bars.
The highlight is given by the current cumulative volume for the day, compared to a custom average (standard 20 periods). The stronger the color, the higher the relative volume is. Stocks moving of higher relative volume have higher chances of making predictable moves.
The highlight is given by the current cumulative volume for the day, compared to a custom average (standard 20 periods). The stronger the color, the higher the relative volume is. Stocks moving of higher relative volume have higher chances of making predictable moves.
Release Notes
Added statement to avoid "Internal Server Study Error" on 1 minute chart.Simplified the code overall
Modified color palette for better differetiantion of levels
Release Notes
Added input box for custom relative volume thresholdMinor fixes to plot to maket it more readable
Release Notes
Changed display imageRelease Notes
Corrected formatting error on 1 min scaleOpen-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.
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