OPEN-SOURCE SCRIPT
SonicR PVA Volumes
Updated
I decided to practice and rewrite some interesting scripts from mt4 to pinescript for myself, all credits are in the source code.
An interesting indicator, I decided to post it like all other alternatives have closed source code, I hope it will be useful for someone!
With this indicator, you can filter small volumes, thereby making less noise so that you notice a possible trend reversal.
For example, rising/extreme factor set to - 1.263, some volume was filtered, now it's more easy to understand, isn't ?
An interesting indicator, I decided to post it like all other alternatives have closed source code, I hope it will be useful for someone!
With this indicator, you can filter small volumes, thereby making less noise so that you notice a possible trend reversal.
For example, rising/extreme factor set to - 1.263, some volume was filtered, now it's more easy to understand, isn't ?
Release Notes
Updated the preview for a more understandable purpose of the scriptRelease Notes
Update v1.0[*1] - Indicator bug fix for cryptocurrency pairs thanks to jonatasbermudes
[*2] - Alerts fixed
[*3] - Small bug fixes (typo, etc.)
Release Notes
[ * ] Optimized the logic to be compatible for all markets, including forex and crypto[ * ] Added 5 colors instead of 5, thanks to eyeioanh for the noticing this.
[ * ] Now it's more likely near to the original lua script for MT4.
Enjoy :)
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.