Volume Based S/R

I got a question if it would be possible to Automatically draw S/R levels based on Volume rather than RSI as I had earlier done in this script; Well it certainly is and it looks as though it might even be tradeable.

The indicator compares the size of volume bars so that if there is a noticeable increase in volume (noticeable here meaning above the indicator threshold) it marks the bar high and low prior to the bigger volume candle.
Remove from Favorite Scripts Add to Favorite Scripts


Is it possible to add multi-timeframe option
+9 Reply
Excellent work dude, I love this idea. I have an iteration of this myself that I'll refine and send on to you, but I really like this version. Thanks for sharing
+4 Reply
shtcoinr chrysopoetics
@chrysopoetics, Thanks, please do.
+6 Reply
I love this indicator and for what it is to trade futures, it really works too well, my question is, if this same indicator could be done for ninjatrader? I really do not understand very well how it works to try to do it myself, I just need it: c
+3 Reply
martinweb Harokatsu
@Harokatsu, whats your strategy to make best use of it?
Wow just took a look at this historically and looks extremely nice, gotta try it on live but looks very promising.
+1 Reply
What is the definition of length in your script? What does it represent?
+1 Reply
shtcoinr Public_front
@Public_front, Its the time period for the rolling stdev, as in over how many bars is the stdev calculated
The script is very nice , thanks for your effort !
+1 Reply
Hi, I really liked both your RSI and Volume based Indicators.

It would be great if demand and supply zones cannbe created using higher highs, higher lows, lower highs and lower lows
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out