HISTORY AND CREDIT –––––––––––––––––––––––––––––––––––––––––––––––––––– This indicator combines all that I have found useful throughout the years about volume analysis. Shoutout of people, whose rules I have used to make the indicator goes to: Mark Minervini, William O'Neil, Gil Morales, Dan Zanger, David Ryan
WHAT IT DOES –––––––––––––––––––––––––––––––––––––––––––––––––––– The indicator plots the Volume series and highlights to bring the trader's attention to important rules. Most of the settings are color settings that show when a condition is being met. 👉 Pocket Pivot = Up Volume today > Highest Down volume in 10 pervious days 👉 Inverse Pocket Pivot = Down Volume today > Highest Up volume in 10 pervious days 👉 Lowest Volume = Very low volume in the past 10 days 👉 Simple Moving average of Volume 👉 Highlight when Volume is above SMA = ability to highlight different colors for up and down volume 👉 Biggest volume in 252 Days (up and down) 👉 Table with summary of important information
HOW TO USE –––––––––––––––––––––––––––––––––––––––––––––––––––– I usually consult volume a lot while trading. My general advise is to look for above average volume on up days indicating strong institutional accumulation. Conversely when there are a lot of highlighted above average down volume days its good to be cautious of the stock.
Release Notes
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Fixed minor informational bugs in the tooltip section of the table.
Release Notes
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- Fixed y-axis so that it is formated in volume terms and removes all the 0s
Release Notes
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👉 Minor bug fixes 👉 Added all text in a shape form (circle above) to remove clutter 👉 Added the ability to remove all text directly from the settings
Release Notes
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Adding automatic changes of the Volume source for Nasdaq Composite (IXIC) and NYSE (NYA)