Colored Volumes Histogram

26 Mar 2018

This colored volumes histogram uses standard deviation from the mean to color bars.

I prefer use large Length input for more stability at mean and standard deviation values.

Uses 5 colors, by default:

• Red = Volume >= 4 stdev;
  
• Orange = 4 stdev > Volume >= 2.5 stdev;
  
• Yellow = 2.5 stdev > Volume >= 1 stdev;
  
• White = 1 stdev > Volume >= -0.5 stdev;
  
• Aqua = -0.5 stdev > Volume.
  

I coded another script, called "Volumes on Candles". It uses the same idea, but color directly the candle. https://br.tradingview.com/script/w5ISqPxw/