OPEN-SOURCE SCRIPT
Volume Exhaustion [AlgoAlpha]
Aggiornato
Introducing the Volume Exhaustion by AlgoAlpha, is an innovative tool that aims to identify potential exhaustion or peaks in trading volume, which can be a key indicator for reversals or continuations in market trends 🔶.
Key Features:
* Signal Plotting: A special feature is the plotting of 'Release' signals, marked by orange diamonds, indicating points where the exhaustion index crosses under its previous value and is above a certain boundary. This could signify critical market points 🚨.
Overall, Volume Exhaustion [AlgoAlpha] is designed for traders who focus on volume analysis. It provides a unique perspective on volume trends and potential exhaustion points, which can be crucial for making informed trading decisions. This script is a valuable addition for traders looking to enhance their trading experience with advanced volume analysis tools.
Key Features:
* Signal Plotting: A special feature is the plotting of 'Release' signals, marked by orange diamonds, indicating points where the exhaustion index crosses under its previous value and is above a certain boundary. This could signify critical market points 🚨.
- Calculation Length Customization: Users can adjust the calculation and Signal lengths to suit their trading style, allowing for flexibility in analysis over different time periods. ☝️
- Visual Appeal: The script offers customizable colors (col for the indicator and col1 for the background) enhancing the visual clarity and user experience 💡.
- Advanced Volume Processing: At its core, the script utilizes a combination of Hull Moving Average (HMA) and Exponential Moving Average (EMA) applied to the volume data. This sophisticated approach helps in smoothing out the volume data and reducing lag.
- Volume Exhaustion Detection: The script calculates the difference between the volume and its smoothed version, normalizing this value to create an exhaustion index (fff). Positive values of this index suggest potential volume exhaustion.
- Boundary and Zero Line: The script includes a boundary line (boundary) and a zero line (zero), with the area between them filled for enhanced visual interpretation. This helps in assessing the relative position of the exhaustion index.
- Customizable Background: The script colors the background of the chart for better readability and to distinguish the indicator’s area clearly.
Overall, Volume Exhaustion [AlgoAlpha] is designed for traders who focus on volume analysis. It provides a unique perspective on volume trends and potential exhaustion points, which can be crucial for making informed trading decisions. This script is a valuable addition for traders looking to enhance their trading experience with advanced volume analysis tools.
Note di rilascio
Removed a redundant inputNote di rilascio
Fixed a typo in the input namesScript open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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Code: ALPH4
🚨Get premium: algoalpha.io
🛜Get FREE signals: discord.gg/xCmqTVRexz
❓Do you have feedback or indicator ideas? Join our server to tell us about it!
Code: ALPH4
🚨Get premium: algoalpha.io
🛜Get FREE signals: discord.gg/xCmqTVRexz
❓Do you have feedback or indicator ideas? Join our server to tell us about it!
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.