OPEN-SOURCE SCRIPT
Big Volume Highlighter ADVANCED
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BIG VOLUME HIGHLIGHTER INDICATOR ADVANCED
The BIG VOLUME INDICATOR ADVANCED is an essential tool for traders who want to gain a deeper understanding of market dynamics through volume analysis. This advanced indicator highlights significant volume spikes, enabling traders to make more informed decisions based on market activity and price movements.
Key Features:
Customizable Lookback Period: Define the number of candles over which the highest volume is calculated, allowing you to adjust the analysis to fit your specific trading strategy and timeframe.
Approximate Volume Matching: Activate the approximate volume matching feature to identify candles that fall within a specified range of a target volume. This feature is particularly valuable for capturing notable volume spikes that may not match your exact input but are within an acceptable tolerance.
Flexible Volume Units: Input volumes in various units (Hundreds, Thousands, Millions, or Billions) to cater to your trading preferences. This flexibility ensures that you can analyze volume data in a way that aligns with your trading style.
Dynamic Tolerance Calculation: Set a percentage-based tolerance for volume matching, allowing for greater flexibility. For instance, if you input a volume of 600 million with a tolerance of 1.5%, the indicator will highlight candles with volumes ranging from 591 million to 609 million.
Visual Alerts: Highlighted candles are marked with clear, color-coded labels positioned above the bars. Green labels represent bullish candles, while red labels denote bearish candles, providing immediate visual feedback on market sentiment.
Mobile and Desktop Compatibility: Designed for seamless integration with TradingView, this indicator is accessible on both desktop and mobile devices, ensuring that you can monitor the market wherever you are.
How to Use:
Set the Lookback Period: Adjust the lookback period to analyze a specific number of candles for volume spikes.
Enable Approximate Volume Matching: If desired, toggle the approximate volume matching feature and enter your target volume, selecting the appropriate unit.
Adjust Tolerance: Define the tolerance percentage to specify how close the volume must be to your input for it to be considered significant.
Analyze the Chart: Observe the highlighted candles on your chart, which indicate significant volume activity based on your criteria.
Make Informed Decisions: Leverage the insights provided by the indicator to guide your trading decisions, identifying potential entry or exit points based on volume analysis.
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The BIG VOLUME INDICATOR ADVANCED is an essential tool for traders who want to gain a deeper understanding of market dynamics through volume analysis. This advanced indicator highlights significant volume spikes, enabling traders to make more informed decisions based on market activity and price movements.
Key Features:
Customizable Lookback Period: Define the number of candles over which the highest volume is calculated, allowing you to adjust the analysis to fit your specific trading strategy and timeframe.
Approximate Volume Matching: Activate the approximate volume matching feature to identify candles that fall within a specified range of a target volume. This feature is particularly valuable for capturing notable volume spikes that may not match your exact input but are within an acceptable tolerance.
Flexible Volume Units: Input volumes in various units (Hundreds, Thousands, Millions, or Billions) to cater to your trading preferences. This flexibility ensures that you can analyze volume data in a way that aligns with your trading style.
Dynamic Tolerance Calculation: Set a percentage-based tolerance for volume matching, allowing for greater flexibility. For instance, if you input a volume of 600 million with a tolerance of 1.5%, the indicator will highlight candles with volumes ranging from 591 million to 609 million.
Visual Alerts: Highlighted candles are marked with clear, color-coded labels positioned above the bars. Green labels represent bullish candles, while red labels denote bearish candles, providing immediate visual feedback on market sentiment.
Mobile and Desktop Compatibility: Designed for seamless integration with TradingView, this indicator is accessible on both desktop and mobile devices, ensuring that you can monitor the market wherever you are.
How to Use:
Set the Lookback Period: Adjust the lookback period to analyze a specific number of candles for volume spikes.
Enable Approximate Volume Matching: If desired, toggle the approximate volume matching feature and enter your target volume, selecting the appropriate unit.
Adjust Tolerance: Define the tolerance percentage to specify how close the volume must be to your input for it to be considered significant.
Analyze the Chart: Observe the highlighted candles on your chart, which indicate significant volume activity based on your criteria.
Make Informed Decisions: Leverage the insights provided by the indicator to guide your trading decisions, identifying potential entry or exit points based on volume analysis.
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Note di rilascio
BIG VOLUME INDICATOR ADVANCED Update:Overview: The BIG VOLUME INDICATOR ADVANCED is a powerful tool designed for traders who want to visually identify significant volume spikes in their trading charts. This indicator allows users to highlight candles based on their volume, making it easier to spot trends and potential trading opportunities.
Key Features:
Lookback Period:
Specify the number of candles to consider when determining volume significance. The default lookback period is set to 50 candles.
Approximate Volume Matching:
Enable this feature to highlight candles with volumes that fall within a specified range of a target volume. Users can set a custom volume (in thousands, millions, or billions) and define a tolerance percentage to create a range around the target volume.
Volume Comparison:
Activate this option to filter candles based on their volume in relation to a specified comparison value. Users can choose to highlight candles with volume that is:
More than the specified volume.
Less than the specified volume.
Exact volume matching, allowing for precise analysis.
Volume Unit Selection:
Choose the unit for volume input: Hundreds, Thousands, Millions, or Billions, making it easier to work with different data scales.
Dynamic Volume Display:
The indicator displays the volume in a user-friendly format (K, M, B) on the highlighted candles, enhancing readability and quick interpretation.
Visual Highlighting:
Candles meeting the specified volume criteria are highlighted with color-coded labels: green for bullish candles and red for bearish candles. Background color shading provides additional visual cues.
Updates:
Introduced an Approximate Volume Matching feature: Allows users to specify a target volume with a defined tolerance percentage.
Added a Volume Comparison option: Users can now filter candles based on whether their volume is more than, less than, or exactly equal to a specified volume.
Implemented Volume Unit Selection: Users can select the volume input unit (Hundreds, Thousands, Millions, Billions) for easier data interpretation.
Enhanced Volume Display: Volume values on highlighted candles are now displayed in a more readable format (K, M, B).
Usage:
This indicator is ideal for day traders, swing traders, and anyone interested in volume analysis as part of their trading strategy. By focusing on significant volume movements, users can make more informed decisions and identify potential market reversals or continuations.
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Note di rilascio
Error Fixedadded volume unit input added under volume comparison option.
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