OPEN-SOURCE SCRIPT

OSPL Volume [Community Edition]

This indicator is based on the concepts popularized by OptionsScalper123 "Siva" of OiPulse. His ideology Is that large moves come after high volume candles. For Nifty, high volume is considered to be a candle above 125k volume and for BankNifty it’s 50k.

This indicator allows you to cut the noise and focus only on the high volume candle. It shows high volume candle in a brighter shade and lower volume candles in a less visible shade.
You can set the minimum volume threshold limit for Nifty and BankNifty. The indicator smartly recognizes which index you are using it in and uses the respective threshold volume limit.
All colors are customizable.

Thanks for Siva for all the ideas and wonderful products he has given to the community
Thanks to all the wonderful Pinescipters for developing awesome indicators and keeping the source open.
The source code of this indicator is just a few lines. Hope you can use it in your projects and learn something from this just how I learned from other scripts.

Any changes or updates needed in this indicator, please suggest. I was thinking some kind of alerts can be added when volume crosses the threshold. Let me know.

Boost/like this indicator and comment if you find this useful. Cheers and happy trading!!!

Skrip open-source

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zero54

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Skrip open-source

zero54