OPEN-SOURCE SCRIPT
Volume Spike (Multi-Timeframe)
Volume Spike (Multi-Timeframe)
Overview
Volume Spike (Multi-Timeframe) evaluates traded volume against its moving average on a selected timeframe so traders can identify when activity departs from recent norms.
What it does
How to use it
Implementation notes
Disclaimer
This indicator is designed as a technical analysis tool and should be used in conjunction with other forms of analysis and proper risk management.
Past performance does not guarantee future results, and traders should thoroughly test any strategy before implementing it with real capital.
Overview
Volume Spike (Multi-Timeframe) evaluates traded volume against its moving average on a selected timeframe so traders can identify when activity departs from recent norms.
What it does
- Calculates volume on the chart timeframe or any alternate timeframe you select in the inputs.
- Builds a configurable simple moving average to establish a rolling volume benchmark.
- Applies distinct colors to spike and baseline volume columns to highlight deviations.
- Plots the related moving-average line for reference.
- Registers an alert condition when volume closes above its moving-average baseline.
How to use it
- Choose the desired Volume Timeframe (leave blank to inherit the chart’s period).
- Tune the Volume MA Length to balance responsiveness and noise.
- Adjust the spike, base, and MA colors to align with existing chart styling.
- Enable the alert condition when automated notification of spikes is needed.
Implementation notes
- Timeframe selection is applied consistently to both the raw volume series and its moving average.
- Color inputs allow visual adjustments without modifying code.
- Alert messaging specifies that the event is a volume spike relative to the selected timeframe baseline.
Disclaimer
This indicator is designed as a technical analysis tool and should be used in conjunction with other forms of analysis and proper risk management.
Past performance does not guarantee future results, and traders should thoroughly test any strategy before implementing it with real capital.
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.