This script can display a lot of different volume statistics. It also colours bars depending on a chosen, customisable criterion. Most options are disabled by default and can be reenabled in the settings menu.
Why are the bars slightly higher than the default volume bars?
Due to the limitations of Pinescript.
What are the two last values (including the...
Had a bit of a TA epiphany with RSI so bear with me. The time since RSI was last overbought/sold is a solid trend indicator. This may seem obvious but after x number of years trading it hit me like a smack in the face. I've coded this for easy visualisation. They're fairly simple changes but it's making a big difference in my trendspotting already.
In the example...
Exponential moving average of 200 periods, which changes color according to the position of the candles.
(200 periods: default configuration Option to change periods allowed)
If the candles are on the EMA, this will have green color, otherwise red color (colors, thickness...
Colours for candles/bars determined by
- standard deviation of price, and also
- additional inputs to determine if the candle/bar is significant:-
1) volume more than half the average volume, or
2) net movement (up, down) same as previous candle/bar
Developed for black background, but you can adjust the colours to your liking. Best used...