PROTECTED SOURCE SCRIPT
Comprehensive Volume Oscillator with Signal Table
I've created a comprehensive Pine Script indicator that includes:
Features:
Volume Oscillator:
Displays a volume oscillator in the lower pane
Shows overbought/oversold zones
Background shading for MFI extreme zones
Triangle markers for buy/sell signals
Volume-Based Scenarios:
Volume Spike - High volume with directional price movement
OBV Trend - On-Balance Volume trend analysis
VPT Trend - Volume Price Trend indicator
MFI - Money Flow Index (overbought/oversold)
OBV Divergence - Bullish/bearish divergences
Accumulation/Distribution - Smart money detection
Climactic Volume - Potential reversal zones
Overall Signal - Combined signal from all scenarios
Customizable Table:
Size options: Tiny, Small, Normal, Large
9 location options: All corners, edges, and center positions
Orientation: Vertical (stacked rows) or Horizontal (stacked columns)
Real-time updates with color-coded signals (Green=Buy, Red=Sell)
Settings:
Adjustable MA lengths for volume, price, and OBV
Customizable volume spike and dry-up thresholds
Alert conditions for buy/sell signals and climactic volume
The indicator provides a complete view of volume dynamics and generates actionable buy/sell signals based on multiple volume-based technical analysis methods!
Understanding the Signals
1. Overall Signal (Most Important)
The OVERALL row combines all volume scenarios. This is your primary signal:
🔼 BUY = Multiple bullish volume conditions align
🔽 SELL = Multiple bearish volume conditions align
— = No clear signal, stay out or hold position
2. Individual Scenario Interpretation
Volume Spike:
Shows current volume vs. average (e.g., "2.5x" means 2.5 times normal volume)
BUY: High volume + price rising = Strong buying pressure ✅
SELL: High volume + price falling = Strong selling pressure ❌
OBV Trend (On-Balance Volume):
Tracks cumulative buying/selling pressure
BUY: OBV rising = Accumulation phase
SELL: OBV falling = Distribution phase
VPT Trend (Volume Price Trend):
Combines volume and price changes
Confirms trend strength with volume
MFI (Money Flow Index):
Shows the actual value (0-100)
BUY: MFI < 20 = Oversold, potential reversal up
SELL: MFI > 80 = Overbought, potential reversal down
OBV Divergence:
Most powerful reversal signal
BUY: Price falling but OBV rising = Hidden accumulation
SELL: Price rising but OBV falling = Hidden distribution
Accum/Distrib:
BUY (Accumulation): Smart money quietly buying
SELL (Distribution): Smart money quietly selling
Climactic Volume:
ALERT: Extreme volume spike = Potential trend exhaustion/reversal
📊 Understanding the Volume Oscillator
The Blue Line (Main Oscillator)
This is the Volume Oscillator that measures the difference between short-term and long-term volume averages:
Formula: (5-period Vol MA - 10-period Vol MA) / 10-period Vol MA × 100
What it shows:
Above 0 = Recent volume is higher than average (buying/selling activity increasing)
Below 0 = Recent volume is lower than average (market quieting down)
Steep rises = Sudden volume surge
Steep falls = Volume drying up quickly
🎯 Key Horizontal Lines
Gray Dashed Line at 0 (Zero Line)
Neutral point - volume is at equilibrium
Crossing above 0 = Volume expanding (market getting active)
Crossing below 0 = Volume contracting (market getting quiet)
Best trades happen when oscillator crosses 0 with a signal
Red Dotted Line at +20 (Overbought Zone)
Extreme high volume relative to average
Volume is 20% or more above normal
Interpretation:
If with price rally = Strong buying, but watch for exhaustion
If with price drop = Panic selling or capitulation
Climactic volume often occurs here
Caution: Extreme volume can signal reversal is near
Green Dotted Line at -20 (Oversold Zone)
Extremely low volume relative to average
Volume is 20% or less below normal
Interpretation:
Market is quiet/consolidating
Low participation - moves may not be trustworthy
Often occurs before breakouts (calm before storm)
Opportunity: Wait for volume to return before entering
🎨 Background Shading
Light Red Background
MFI > 80 (Money Flow Index overbought)
Money is flowing in heavily
Warning: Potential top forming, reversal likely
Light Green Background
MFI < 20 (Money Flow Index oversold)
Money flow is weak/exhausted
Opportunity: Potential bottom forming, reversal up likely
📍 Triangle Signals on Oscillator
Green Triangle (▲)
BUY signal triggered
Multiple bullish volume conditions aligned
Entry point for long positions
Appears at the oscillator's current value
Red Triangle (▼)
SELL signal triggered
Multiple bearish volume conditions aligned
Exit/short point
Appears at the oscillator's current value
Features:
Volume Oscillator:
Displays a volume oscillator in the lower pane
Shows overbought/oversold zones
Background shading for MFI extreme zones
Triangle markers for buy/sell signals
Volume-Based Scenarios:
Volume Spike - High volume with directional price movement
OBV Trend - On-Balance Volume trend analysis
VPT Trend - Volume Price Trend indicator
MFI - Money Flow Index (overbought/oversold)
OBV Divergence - Bullish/bearish divergences
Accumulation/Distribution - Smart money detection
Climactic Volume - Potential reversal zones
Overall Signal - Combined signal from all scenarios
Customizable Table:
Size options: Tiny, Small, Normal, Large
9 location options: All corners, edges, and center positions
Orientation: Vertical (stacked rows) or Horizontal (stacked columns)
Real-time updates with color-coded signals (Green=Buy, Red=Sell)
Settings:
Adjustable MA lengths for volume, price, and OBV
Customizable volume spike and dry-up thresholds
Alert conditions for buy/sell signals and climactic volume
The indicator provides a complete view of volume dynamics and generates actionable buy/sell signals based on multiple volume-based technical analysis methods!
Understanding the Signals
1. Overall Signal (Most Important)
The OVERALL row combines all volume scenarios. This is your primary signal:
🔼 BUY = Multiple bullish volume conditions align
🔽 SELL = Multiple bearish volume conditions align
— = No clear signal, stay out or hold position
2. Individual Scenario Interpretation
Volume Spike:
Shows current volume vs. average (e.g., "2.5x" means 2.5 times normal volume)
BUY: High volume + price rising = Strong buying pressure ✅
SELL: High volume + price falling = Strong selling pressure ❌
OBV Trend (On-Balance Volume):
Tracks cumulative buying/selling pressure
BUY: OBV rising = Accumulation phase
SELL: OBV falling = Distribution phase
VPT Trend (Volume Price Trend):
Combines volume and price changes
Confirms trend strength with volume
MFI (Money Flow Index):
Shows the actual value (0-100)
BUY: MFI < 20 = Oversold, potential reversal up
SELL: MFI > 80 = Overbought, potential reversal down
OBV Divergence:
Most powerful reversal signal
BUY: Price falling but OBV rising = Hidden accumulation
SELL: Price rising but OBV falling = Hidden distribution
Accum/Distrib:
BUY (Accumulation): Smart money quietly buying
SELL (Distribution): Smart money quietly selling
Climactic Volume:
ALERT: Extreme volume spike = Potential trend exhaustion/reversal
📊 Understanding the Volume Oscillator
The Blue Line (Main Oscillator)
This is the Volume Oscillator that measures the difference between short-term and long-term volume averages:
Formula: (5-period Vol MA - 10-period Vol MA) / 10-period Vol MA × 100
What it shows:
Above 0 = Recent volume is higher than average (buying/selling activity increasing)
Below 0 = Recent volume is lower than average (market quieting down)
Steep rises = Sudden volume surge
Steep falls = Volume drying up quickly
🎯 Key Horizontal Lines
Gray Dashed Line at 0 (Zero Line)
Neutral point - volume is at equilibrium
Crossing above 0 = Volume expanding (market getting active)
Crossing below 0 = Volume contracting (market getting quiet)
Best trades happen when oscillator crosses 0 with a signal
Red Dotted Line at +20 (Overbought Zone)
Extreme high volume relative to average
Volume is 20% or more above normal
Interpretation:
If with price rally = Strong buying, but watch for exhaustion
If with price drop = Panic selling or capitulation
Climactic volume often occurs here
Caution: Extreme volume can signal reversal is near
Green Dotted Line at -20 (Oversold Zone)
Extremely low volume relative to average
Volume is 20% or less below normal
Interpretation:
Market is quiet/consolidating
Low participation - moves may not be trustworthy
Often occurs before breakouts (calm before storm)
Opportunity: Wait for volume to return before entering
🎨 Background Shading
Light Red Background
MFI > 80 (Money Flow Index overbought)
Money is flowing in heavily
Warning: Potential top forming, reversal likely
Light Green Background
MFI < 20 (Money Flow Index oversold)
Money flow is weak/exhausted
Opportunity: Potential bottom forming, reversal up likely
📍 Triangle Signals on Oscillator
Green Triangle (▲)
BUY signal triggered
Multiple bullish volume conditions aligned
Entry point for long positions
Appears at the oscillator's current value
Red Triangle (▼)
SELL signal triggered
Multiple bearish volume conditions aligned
Exit/short point
Appears at the oscillator's current value
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
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.