Smart Volume

10 ore fa

First and foremost: why is this valuable and should not be ghosted again by Pine Moderators:

It's a powerful tool to analyze volume by allowing users to focus on volume bars that matter. Triggers are calculated "per ticker", meaning it's not a one size fits all approach. It also combines volume contraction with volatility contraction (RMV) in one single indicator, among other things. I kindly ask users to comment on the uniqueness of the approach. Thank you.

I recorded a video talking about it:

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Smart Volume offers advanced volume analysis by combining volume patterns, volatility contractions, and breakout detection into a unified indicator. It helps identify key market turning points by:

• Detecting volume compressions with volatility alignment - spots potential breakout setups when both volume and volatility contract simultaneously
  
• Identifying climactic volume conditions (buying/selling climax) with specific criteria for exhaustion moves
  
• Auto-detecting significant volume thresholds based on historical data instead of fixed multiples
  
• Monitoring volume/price divergences with strict criteria (>2% price moves, >20% volume changes)
  

The script includes a dashboard that displays:

• Volume analysis (spikes, compressions)
  
• Volatility state (RVM - Relative Movement Value)
  
• Pattern detection (climax, dry-ups, divergences)
  
• Liquidity assessment
  
• Breakout status
  

Perfect for swing traders looking to capitalize on institutional volume patterns and volatility contractions. Most effective on daily timeframes with liquid stocks.

Key feature: Uses adaptive thresholds that adjust to each symbol's unique volume characteristics rather than fixed multiples.

6 ore fa

Note di rilascio

- added ability to change transparency of the dashboard
- now allows the user to enforce or not breakouts on types of candle. Also added extra confirmation with a minimum number of compression periods.