The indicator is developped for bitcoin and other cryptocurrencies, whose price and volume changes heavily within minutes. For the other Asset Classes, you may need to adjust the parameters. Benefits: 1. Since a breakout of price or volume often means the start of a trend, this indicator alerts and displays a label when there is a breakout in price or volume. 2. The indicator prints labels on the chart, which helps people to study the relationship between a breakout and the trend. 3. The volume change is compared to a SMA of volume, instead of the last bar, which can reflect the change compared to a certain period. 4. You can set an alert for breakouts of both price and volume, instead of do it two times. Settings: SMA Length for volume: is the length to calculator volume SMA, default:108. Toggle on/off to display or hide labels for price or volume breakout. Customize the alert threshhold for price or volume breakout in different time period:3m,5m,15m,30m,60m and other Use percentageGapForSlopeshape to adjust the relative position of labels. Style - color settings: Orange for Volume Down, Blue for Volume Up, Red for Price Down, Green for Price Up.
Great script, how to enable this for forex market?
PipsOverPast
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Great script, unfortunately my labels won't populate, any suggestion would be greatly appreciated attempted to toggle
go8686
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@PipsOverPast, I just tried different coins and different time interval, it works. The reason that you can not see the volume label might be your threshold need to be adjusted to smaller for your time interval.For example, for 1D interval, set your threshold for volume to 1, to see if it works.