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Editors' picksOPEN-SOURCE SCRIPT

Heatmap Volume [xdecow]

By xdecow
Updated
This indicator colors the volume bars and candles according to the volume traded. The calculation of the heat map zones is done as follows:
how many standard deviations the volume are distant from the average volume?

For a better visual experience, place the borders and wicks of the candles in a neutral color.
Release Notes
Added abbreviated numbers to scale
Release Notes
Added options to show thresholds lines
Release Notes
Option to select heatmap zones as lines or backgrounds.
Small fix in the plots order.
Release Notes
temporary fix
Release Notes
Updates
  • Update to pine5
  • Extra High zone (red) added again (previously removed to work around a bug)
  • Removed oscillator mode
  • Improved options and added tooltips
coloredcoloredbarsheatmapsatosbarVolume IndicatorvolumespreadanalysisvolumestrengthcandlesVSA

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.

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xdecow

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