OPEN-SOURCE SCRIPT
Updated Average Daily Volume with Anomalies
A trigger program to print volume triggers on stocks that are being watched.
It helps with identifying the trigger volume on a candle and helps determine whether one can enter a position or not.
It helps with identifying the trigger volume on a candle and helps determine whether one can enter a position or not.
Release Notes
Added Volume Trigger indicator, users can now configure the volume trigger at which they think the buy came into effect and create an alert for the sameRelease Notes
Added blue square marker to show if the price and volume is higher than last two bars, it is like a pre cursor to an upcoming volume, however it will be confirmed by the volume anomaly in the subsequent bars.Release Notes
added relative volume threshold to indicate incoming bullish surge. User can choose to display the relative volume threshold label from the settings. If both Vol anomaly and rvol threshold prints then there is a high probability that price can move up from the first time rvol + anomaly was printed. Also added a alert when the threshold reaaches.Release Notes
Updated to add possible price move information, the factor can be changed from settings.Release Notes
Formatted RVOL % and Possible Price Movement to 2 decimalRelease Notes
Format changeRelease Notes
Corrected possible price movement formulaRelease Notes
Added configurable take profit lines for easy scalping, the take profit percentage is configurable based on the most recent RVOL label printed.Release Notes
Added configurable TP Cap, the expected price movement will not exceed the configured %Release Notes
Added Bearish RVOL label for reference, if bearish label appears without any bullish RVOL label then it is a rapidly moving down.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.