Ranged Volume - evo

A simple script that shows mirrored regular volume bars with the purpose to show break-outs and low volume ranges, using highest and lowest of a few bars back.

Use Heikin Ashi function to smooth the colors with the trend.
Release Notes: - Added alerts
- Separated break out colors
- Added bar colors
- Changed default range to 5 (a good setting to see how strong the trend is)
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May i know... how to use it....? Tq
+1 Reply
@MrMama, It is just like regular volume, only here you can see volume spikes and the range of how big volume is. So if the range gets smaller while the trend still continues it might be very weak.. Its not really a buy and sell indicator but you can look to follow the direction of the break out. Everyone would need to do their own research what settings work on their time frame and assets. I think its best used with another (trend)indicator and use this as confirmation and strength.
Strategy version:
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