OPEN-SOURCE SCRIPT
Volume v4 (Dollar Value) by Koenigsegg
📊 Volume v3 (Dollar Value) by Koenigsegg
🎯 Purpose:
Volume v3 (Dollar Value) by Koenigsegg transforms traditional raw-unit volume into dollar-denominated volume, revealing how much money actually flows through each candle.
Instead of measuring how many coins or contracts were traded, this version calculates the total traded value = volume × average price (hlc3), allowing traders to visually assess capital intensity and market participation within each move.
⚙️ Core Features
- Converts raw volume into USD-based traded value for each candle.
- Color-coded bars show bullish (green/teal) vs. bearish (red) activity.
- Built-in SMA and SMMA overlays highlight sustained shifts in value flow.
- Designed for visual clarity to support momentum, exhaustion, and divergence studies.
📖 How to Read It
Rising Dollar Volume — indicates growing market participation and strong capital flow, often aligning with impulsive waves in trend direction.
Falling Dollar Volume — signals waning interest or reduced participation, potentially hinting at correction or exhaustion phases.
Comparing Legs — when price makes new highs/lows but dollar volume weakens, it can reveal divergences between price movement and actual capital commitment.
SMA / SMMA Lines — use them to identify longer-term accumulation or depletion of market activity, separating short bursts from sustained inflows or outflows.
The goal is to visualize the strength of market moves in terms of capital energy, not just tick activity. This distinction helps traders interpret whether a trend is being driven by genuine money flow or low-liquidity drift.
⚠️ Disclaimer
This script is provided for research and educational purposes only.
It does not constitute financial advice, investment recommendations, or trading signals.
Always conduct your own analysis and manage your own risk when trading live markets.
The author accepts no liability for financial losses incurred from use of this tool.
🧠 Credits
Developed and published by Koenigsegg.
Written in Pine Script® v6, fully compliant with TradingView’s House Rules for Pine Scripts.
Licensed under the Mozilla Public License 2.0.
🎯 Purpose:
Volume v3 (Dollar Value) by Koenigsegg transforms traditional raw-unit volume into dollar-denominated volume, revealing how much money actually flows through each candle.
Instead of measuring how many coins or contracts were traded, this version calculates the total traded value = volume × average price (hlc3), allowing traders to visually assess capital intensity and market participation within each move.
⚙️ Core Features
- Converts raw volume into USD-based traded value for each candle.
- Color-coded bars show bullish (green/teal) vs. bearish (red) activity.
- Built-in SMA and SMMA overlays highlight sustained shifts in value flow.
- Designed for visual clarity to support momentum, exhaustion, and divergence studies.
📖 How to Read It
Rising Dollar Volume — indicates growing market participation and strong capital flow, often aligning with impulsive waves in trend direction.
Falling Dollar Volume — signals waning interest or reduced participation, potentially hinting at correction or exhaustion phases.
Comparing Legs — when price makes new highs/lows but dollar volume weakens, it can reveal divergences between price movement and actual capital commitment.
SMA / SMMA Lines — use them to identify longer-term accumulation or depletion of market activity, separating short bursts from sustained inflows or outflows.
The goal is to visualize the strength of market moves in terms of capital energy, not just tick activity. This distinction helps traders interpret whether a trend is being driven by genuine money flow or low-liquidity drift.
⚠️ Disclaimer
This script is provided for research and educational purposes only.
It does not constitute financial advice, investment recommendations, or trading signals.
Always conduct your own analysis and manage your own risk when trading live markets.
The author accepts no liability for financial losses incurred from use of this tool.
🧠 Credits
Developed and published by Koenigsegg.
Written in Pine Script® v6, fully compliant with TradingView’s House Rules for Pine Scripts.
Licensed under the Mozilla Public License 2.0.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.