Easy visuals on, if volume is way over average. Good for Mean Reverting. Higher Volume tends to higher breakout chances.
Please whisper me for for ideas how to make this better. Its a very simple script, but got some alpha. If you know how to improve, let me know and i will code it into.
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- Updated to PineScript Version 5 - Volume Breakout is now calculated via Standard Deviation than via Multiply - Yellow Line = mean - Red Column Volume = Volume below mean - Green Column Volume = Volume above mean but below one Standard Deviation (chance 34.1%) - Light Green Volume Breakout is above one Standard Deviation away from mean. Chances there are: 50% - 34.1 = 15.9%
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- Update Picture - Naming of Inputs
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- color update for better visibilty - code cleanup
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- Adding Price Gaps Up/Down on top of the Volume. - The color of the Gaps equals the size of the Gap. - You can define a minimum Gap percentage.
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- Adding "Volume Divergence": a small Triangle Up below the Volume, when the Price is going up, allthough the Volume is low and showing Relative Strength - Adding a additional 4% Gap Up as a minimal Gap Up Break Out - Performance Tweeks
Hello, can you set it to alert when the volume rises or falls? I searched a lot in the library but couldn't find it, your indicator is the best among them. thanks
derMatzeImNetz
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@okiayd, can you send me one or two indicators where that is possible? id like too look in the code of others how they do it
okiayd
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@derMatzeImNetz, Thank you for your reply, I looked in the whole library but couldn't find it. I was also thinking of making alarm copies. ))
TathaastuVats
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@derMatzeImNetz, using ta.crossover(volume,vol_middle) to set alerts is a good idea
constantine_trading
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Da hast du die Materie richtig erfasst; sauber gemacht ;)