OPEN-SOURCE SCRIPT
Updated Volume Breakout (ValueRay)
Easy visuals on, if volume is way over average. Good for Mean Reverting. Higher Volume tends to higher breakout chances.
Please whisper me for for ideas how to make this better. Its a very simple script, but got some alpha. If you know how to improve, let me know and i will code it into.
Please whisper me for for ideas how to make this better. Its a very simple script, but got some alpha. If you know how to improve, let me know and i will code it into.
Release Notes
- Updated to PineScript Version 5- Volume Breakout is now calculated via Standard Deviation than via Multiply
- Yellow Line = mean
- Red Column Volume = Volume below mean
- Green Column Volume = Volume above mean but below one Standard Deviation (chance 34.1%)
- Light Green Volume Breakout is above one Standard Deviation away from mean. Chances there are: 50% - 34.1 = 15.9%
Release Notes
- Update Picture- Naming of Inputs
Release Notes
- color update for better visibilty- code cleanup
Release Notes
- Adding Price Gaps Up/Down on top of the Volume. - The color of the Gaps equals the size of the Gap.
- You can define a minimum Gap percentage.
Release Notes
- Adding "Volume Divergence": a small Triangle Up below the Volume, when the Price is going up, allthough the Volume is low and showing Relative Strength- Adding a additional 4% Gap Up as a minimal Gap Up Break Out
- Performance Tweeks
Release Notes
- Better default values
- Shows a warning on extreme moves
Release Notes
- Slight Color Changes
- Better Symbols
- Better Breakout Logic
Release Notes
Better Visuals- Colors (Cold to Warm)
- Middle Line as Moving Average
Small calculation changes
Release Notes
- Updated Colors and Drawings- Updated various code parts to optimize the calculations
- Added "new high" showing a purple diamong when Volume reached a new 12m high
Release Notes
Updated to newest Pinescript Version and tweaked the colors and calculations.Release Notes
- colors based on Z-Score MAD Sigma
- new colors very intuitive to read
- 250 day high with a purple diamong on top of the volume bar
- new 52w high with a cyan circle on bottom of the volume bar
- removed the gap (had not signal quality, i backtested it)
- removed the vol divergence (had no signal quality, i backtested it)
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.
ValueRay ➤ AI driven Stock Screener and Value Analyser
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.
ValueRay ➤ AI driven Stock Screener and Value Analyser
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.