Volume, Simple Relative Volume Highlight — Indicator by Lupo_Investing

volumestudies volume relativevolume equity daytrading swingtrading

This script plots volume bars and highlight bars that have an unusual activity, compare to the average (Standard: Simple Moving Average, 50 periods).

The script is useful for checking daily volume levels on equities. Where there is high volume, there is likely volatility, wich is good for day trading and swing trading entries.

Release Notes:

-updated to pinescript v5
-added input for selecting MA source (SMA or EMA)
-polished code format

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.

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.

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