Volume With Color

Volume with color helps to quickly identify accumulation or distribution.

An accumulation day is an up day with volume greater than a user selected average.
A distribution day is a down day with volume greater than a user selected average.

This indicator will highlight those days by changing the volume bar colors for an easy visual.
Release Notes:
Added functionality to plot volume as a histogram or line.
Code clean up.
Release Notes:
Now has the ability to show Pocket Pivots.

A pocket pivot is an up day with volume greater than any of the down days volume in the past 10 days.
Release Notes:
Clean up
Release Notes:
  • Added ability to see projected volume bar
  • Added info block with current day's volume and projected % change vs the average volume

Release Notes:
Ability to change text color for dark mode users
Release Notes:
  • Added ability to see highest volume ever and highest volume in 1 year
  • Added ability to highlight skyscrapers (no higher volume 13 bars left or right)

Release Notes:
  • Added Pocket Pivot alerts
Release Notes:
User request to add the ability to plot a line at 2x and 3x average volume.
  • Turn lines on or off
  • Select line color
  • Alerts if volume reaches 2x or 3x average

Release Notes:
Per user requests multiple new features added
  • Additional volume info in table (Avg. Volume, Avg. Dollar Volume, Up Down Volume Ratio)
  • Color volume dry up bars
Release Notes:
5 Day Pocket Pivots
  • Added the ability to see 5 day pocket pivots
Release Notes:
Now able to change the size of the volume information table and skyscraper labels.
Release Notes:
User request to show volume percentage change on skyscraper volumes.
Release Notes:
Added option to automatically switch the volume moving average length when switching to a weekly chart. The weekly MA length can be set in the indicators settings and this option can be turned on or off to keep the MA consistent across all time frames.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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