This is going to be my first published indicator on Trading View. Thanks for TradingView for providing us this great platform And thanks for all of those who helps me to built this indicator and share there ideas.I cannot mention everyone name here believe me that list going to be huge.Everyone’s idea and help is much appreciated.This is how our TradingView community is growing day by day with kindness and knowledge. Every time I take so much from community in form knowledge that every time somewhere I feel that I also need to do something for community and finally day arrived .A gift from my side to community.A gift of indicator-VOLUME PLAY This volume based indicator has High Relative Volume bar Background, Low Relative Volume bar background ,Volume Labels of Buying volume, Selling volume and Total volume count with percentage, Highest Volume in Percentage and Highest 5x volume count and 10x volume count of bar.Plus I have did column scaling to take Down pan input so you can switch pane or add in existing pane without any major problem And all this works on any time frame. Isn’t it good idea? This indicator displays the volume of each session in a similar manner of the default volume indicator.However it add on the last bar Green and Red bar colours. Green means buying is more than selling and Red means selling is more than buying.On top of Some bar If number appears That means that’s volume is highest multiple volume of 5 and if number appears with label means highest multiple volume of 10.So simple without label volume counts means 5x and with label means 10x. Now some of bars has background colour of Mint green , Pastel red and White.That’s highlight high relative volume bars with a highly buying activity range in Green and high relative volume bars with a highly selling activity range in Red And white background is low relative volume for that timeframe bar. I am kind of person who don’t keep show indicator value enable all time.So it’s come in mind why not plot this values without enabling it.So I decided to show this values of buying, selling and total volumes on top near middle pane.Interesting thing is that I made a label with the help of pine script Table feature.Thanks a lot to Pine Team to add this new great feature! It’s great alternative for labels feature.Because of this feature I am able to locate buying, selling and total volume at right place where in most of scenario it will adjust. Please note that all values are estimate.It’s not accurate.I show volumes in K,M form.Plus with volume I also try to show Buying And Selling volume in percentage form to get rough idea about what’s going on in instrument.Idea is to get better view of volume by splitting it into Buying , Selling and Total volume.This allows you to see are the bulls or bears in-control in relation to the overall Volume. By default this indicator overlay is false but you can move this indicator pane to existing upper or lower pane.It will help to save space as well.If combine with two indicator at same pane then it will create two value scale at right side.So you will not loose any indicators values.By default I used 50% of vertical space in indicator scale factor. I tried to make this indicator as accurate as inbuilt volume indicator with added extra feature.The main aim of indicator to get Idea of volume role in that symbol with that specific timeframe.Result might not be accurate but I expect somewhat nearby to accurate. Kept source code open purposely for learners of pine script. Please avoid misuse or selling of this indicator.Remember Sharing Is Caring. If someone has suggestions or any addition then please comment below.Wishing you all abundance of health, wealth, and prosperity.
After all its all about VOLUME PLAY.
Disclaimer:-This indicator is not meant for buy or sell signals.This post and the script don’t provide any financial advice. This indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets.
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Correction in 90th row description from Selling Volume to Total Volume.
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From request Added option to customize Column scaling by user.Now Trader choose there own % of vertical space as well and Highest method selection for Column Scaling.
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By request Added colour customisation for user.Now you can set your own colours for Bars,Backgrounds and text.
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*Updated to pine script version 5 *On request added moving average to script.You can choose custom length as per setup.By default Moving average is set enable,if can disable through setting.
Great work dude. This indicator will not work on Options Index like NIFTY50 or BANKNIFTY. Can you add the option to utilize the future Volume options for Index? Also it will be good if you can print Day (Buy/Sell,Total) Volume along with the current chart resolution timeframe.
@krishnamauryavns, Since nifty50 and bank nifty is index it doesn't have volume.Thats why you can't see volume. About future It's so simple you just need to search future of respective index that has that underlying. For example Nifty1! is a current future of nifty50.Future has volume so you can see volumes of that futures.
About Estimated day volume of whole day for buy,sell and total volume which already displayed at the top of indicator , you just need to see volume at the end of market hours using day time frame of that particular security or script.
ABHIENN
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@THEVICKY05, Hi, bro how can i make it specially for BANKNIFTY1! symbol, so that it can be used on spot chart on bank nifty. Thanks.
THEVICKY05
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@ABHIENN, Nothing is impossible. You have to modify script to make it happened. But after doing this you might observed difference of future volume behavior to spot price movement.It's not gonna be accurate If you expect accuracy specially for banknifty which has wide range movement compared to nifty.
ABHIENN
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@THEVICKY05, I do not know coding actually, how do i do it?
@ABHIENN, I would love to HELP someone,But not to make script for someone.I don't offer personalized service and also not interested in future.You can hire skilled people that can code for you according to your desire parameter.Best of luck
webcetdotin
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@THEVICKY05 You really Genius as your profile pic. Thanks for the great contribution to TV community. Small suggestion: 1. If vixfix is added to it, the script will awesome. 2. Consider showing Daily average volume
SHAIKBABU
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I am new to pine script Iam looking for the same indicator I did it in AFL amibroker You saved my time a lot Thank you very much for this code
akanmolkumar
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@SHAIKBABU, recently in jan 2024 you posted a indicator , now i am unable to find it , may you pls send it to me
Sample code to add like.
fut_vol_tickerid = input("" , title="Futures Volume Symbol" , type=input.symbol )
use_fut_vol = input(false , title="Use Future Volume?" )
volume1 = use_fut_vol ? security(fut_vol_tickerid, timeframe.period, volume, lookahead=barmerge.lookahead_on) : volume