OPEN-SOURCE SCRIPT

Volume pressure by GSK-VIZAG-AP-INDIA

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🔍 Volume Pressure by GSK-VIZAG-AP-INDIA
🧠 Overview
“Volume Pressure” is a multi-timeframe, real-time table-based volume analysis tool designed to give traders a clear and immediate view of buying and selling pressure across custom-selected timeframes. By breaking down buy volume, sell volume, total volume, and their percentages, this indicator helps traders identify demand/supply imbalances and volume momentum in the market.

🎯 Purpose / Trading Use Case
This indicator is ideal for intraday and short-term traders who want to:

Spot aggressive buying or selling activity

Track volume dynamics across multiple timeframes *1 min time frame will give best results*

Use volume pressure as a confirming tool alongside price action or trend-based systems

It helps determine when large buying/selling activity is occurring and whether such behavior is consistent across timeframes—a strong signal of institutional interest or volume-driven trend shifts.

🧩 Key Features & Logic
Real-Time Table Display: A clean, dynamic table showing:

Buy Volume

Sell Volume

Total Volume

Buy % of total volume

Sell % of total volume

Multi-Time frame Analysis: Supports 8 user-selectable custom time frames from 1 to 240 minutes, giving flexibility to analyze volume pressure at various granularities.

Color-Coded Volume Bias:

Green for dominant Buy pressure

Red for dominant Sell pressure

Yellow for Neutral

Intensity-based blinking for extreme values (over 70%)

Dynamic Data Calculation:

Uses volume * (close > open) logic to estimate buy vs sell volumes bar-by-bar, then aggregates by timeframe.

⚙️ User Inputs & Settings
Timeframe Selectors (TF1 to TF8): Choose any 8 timeframes you want to monitor volume pressure across.

Text & Color Settings:

Customize text colors for Buy, Sell, Total volumes

Choose Buy/Sell bias colors

Enable/disable blinking for visual emphasis on extremes

Table Appearance:

Set header color, metric background, and text size

Table positioning: top-right, bottom-right, etc.

Blinking Highlight Toggle: Enable this to visually highlight when Buy/Sell % exceeds 70%—a sign of strong pressure.

📊 Visual Elements Explained
The table has 6 rows and 10 columns:

Row 0: Headers for Today and TF1 to TF8

Rows 1–3: Absolute values (Buy Vol, Sell Vol, Total Vol)

Rows 4–5: Relative percentages (Buy %, Sell %), with dynamic background color

First column shows the metric names (e.g., “Buy Vol”)

Cells blink using alternate background colors if volume pressure crosses thresholds

💡 How to Use It Effectively
Use Buy/Sell % rows to confirm potential breakout trades or identify volume exhaustion zones

Look for multi-timeframe confluence: If 5 or more TFs show >70% Buy pressure, buyers are in control

Combine with price action (e.g., breakouts, reversals) to increase conviction

Suitable for equities, indices, futures, crypto, especially on lower timeframes (1m to 15m)

🏆 What Makes It Unique
Table-based MTF Volume Pressure Display: Most indicators only show volume as bars or histograms; this script summarizes and color-codes volume bias across timeframes in a tabular format.

Customization-friendly: Full control over colors, themes, and timeframes

Blinking Alerts: Rare visual feature to capture user attention during extreme pressure

Designed with performance and readability in mind—even for fast-paced scalping environments.

🚨 Alerts / Extras
While this script doesn’t include TradingView alert functions directly, the visual blinking serves as a strong real-time alert mechanism.

Future versions may include built-in alert conditions for buy/sell bias thresholds.

🔬 Technical Concepts Used
Volume Dissection using close > open logic (to estimate buyer vs seller pressure)

Simple aggregation of volume over custom timeframes

Table plotting using Pine Script table.new, table.cell

Dynamic color logic for bias identification

Custom blinking logic using na(bar_index % 2 == 0 ? colorA : colorB)

⚠️ Disclaimer
This indicator is a tool for analysis, not financial advice. Always backtest and validate strategies before using any indicator for live trading. Past performance is not indicative of future results. Use at your own risk and apply proper risk management.

✍️ Author & Signature
Indicator Name: Volume Pressure
Author: GSK-VIZAG-AP-INDIA
TradingView Username: prowelltraders

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.