Pivot Boss - Advanced Volume Indicator

This indicator measures "Compression and Expansion" of current bars volume against 10 day average volume(Can be user defined)

Avg Volume = 10 day avg volume
Wide volume = AvgVolume x 1.25 (Volume bar will be Blue color)
Narrow Volume = AvgVolume x 0.65 (Volume bar will be Magenta color)

Yellow line -- 5 bar avg volume
White Line -- 10 bar avg volume

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.


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