Volume Spikes

tradeforopp Updated   
Shows volume spikes over a certain threshold, using a symbol's volume moving average as the baseline. Offers a few different filters regarding candle shapes and types, in an attempt to catch quick moves on extremely low timeframes (sub-1m).

Ultimately I would like to integrate this logic into an indicator that contains automated stop raid/inducement detection.
Release Notes:
Added session parameter so that volume spikes will only be shown within a valid timeframe. Also added an offset so that volume spikes are being shown on the appropriate candles, since a valid low/high requires a 3 bar pattern and therefore makes the signals "lag" by 1 bar.
Release Notes:
Added a step size of 0.1 for the volume multiplier in order to make smaller adjustments (rather than the default step size of 1).
Release Notes:
Can now create alerts from volume spikes, and also change the signal colors.

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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