Volume Ranges (VSA)
The script is intended for volume analysis
It shows if the volume is low, average, high or ultra-high.
Can be applied to any timeframe and any asset.
There're two calculation methods user can choose from:
1. Ranges - it allows to set a lookback period and moving average type to calculate averages
2. Deviations. In this case only one setting is applied - lookback period. Average type is not involved in this calculation method
Play around to figure out which one is better for you
Colors are:
Red - low volume
Green - avg volume
Yellow - high volume
Blue - ultra high volume
It shows if the volume is low, average, high or ultra-high.
Can be applied to any timeframe and any asset.
There're two calculation methods user can choose from:
1. Ranges - it allows to set a lookback period and moving average type to calculate averages
2. Deviations. In this case only one setting is applied - lookback period. Average type is not involved in this calculation method
Play around to figure out which one is better for you
Colors are:
Red - low volume
Green - avg volume
Yellow - high volume
Blue - ultra high volume