Volume spike detection

🔶What it is ?

Volume spike detection that is a tool to help you to define Volume spike better to know whether that is a real signal to focus to trade/invest or you should skip it.

This indicator will measure the current trading volume and then compare with average trading volume to give out volume spike signal. A candle has volume spike that will be marked by a yellow dot below the candle.

Our purpose is, help traders to define Volume spike faster and easier by automation tools and save time during analyzation to give out an exactly investing decision.

What is Volume spike in detail ?
To help you to undertand better about Volume spike, please refer to below picture :

We're having some candles that their trading volume are higher than average volume (blue line on the bottom of chart). They're candles with volume spike and giving us the signal about a huge money flow joined to Bitcoin at that time. You should be careful if you're taking any position that is reversal with these trading volume.

🔶 Who can use it ?

1. All traders who are using NCI, ICT , Smart money concepts, MACD system and other systems...

2. Recommend to use it for H1 timeframe and higher

3. All traders who are trading on Forex, Crypto, Stock, Indicies...

4. All traders who are new or experienced traders

5. Recommend to use for investing or long swing trader

🔶 The purpose of indicator

1. Define big money flow when it joined to market.

2. Helping trader to define MOMENTUM of WAVE

3. Helping trader to define MOMENTUM of candle/price patterns

4. Always "Empty your mind" during Trading because you checked chart less with automation tool.

🔶 How will indicator appear on chart

After you added it on chart, indicator will mearsure and give out the candle having volume spike. Indicator will mark a yellow dot right below the candle for you to recognize the power better.

🔶 INPUT value

There're 2 input value that you can change if you need :

1. Spike ratio % : The value is over from average trading volume
As above picture, you can see we're having 3 volume that is over average trading volume.
The gap is from average value to highest trading volume is spike ratio.

2. Trading period : Here is length of period you want to compare.
For example, you want calculate average volume of 20 periods before as standard to compare and judge a volume spike.

I recommend to set these numbers as default.

🔶 How to use indicator
After setting indicator, indicator will mearsure and run automatically to mark volume spike below the candles on your chart.

You can combine volume spike with your own system to define momentum of wave, price patterns to trade or invest normally.

I hope this indicator help you to trade more effectively.