Volume Based S/R

I got a question if it would be possible to Automatically draw S/R levels based on Volume rather than RSI as I had earlier done in this script; Well it certainly is and it looks as though it might even be tradeable.

The indicator compares the size of volume bars so that if there is a noticeable increase in volume (noticeable here meaning above the indicator threshold) it marks the bar high and low prior to the bigger volume candle.
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Is it possible to add multi-timeframe option
+8 Resposta
Excellent work dude, I love this idea. I have an iteration of this myself that I'll refine and send on to you, but I really like this version. Thanks for sharing
+4 Resposta
shtcoinr chrysopoetics
@chrysopoetics, Thanks, please do.
+5 Resposta
I love this indicator and for what it is to trade futures, it really works too well, my question is, if this same indicator could be done for ninjatrader? I really do not understand very well how it works to try to do it myself, I just need it: c
+2 Resposta
martinweb Mazapan
@Mazapan, whats your strategy to make best use of it?
Wow just took a look at this historically and looks extremely nice, gotta try it on live but looks very promising.
+1 Resposta
What is the definition of length in your script? What does it represent?
+1 Resposta
shtcoinr Public_front
@Public_front, Its the time period for the rolling stdev, as in over how many bars is the stdev calculated
The script is very nice , thanks for your effort !
+1 Resposta
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