Logarithmic Volume

In volatile markets, normal indicator suffer from volume spikes that make the rest of plot seem non-existent.
Using logarithmic exponent, this indicator normalizes the volume, so this makes it easier to read.
The obvious drawback is that it does not display the actual volume amount, only a relative value.

Release Notes

Included the original volume indicator in the screenshot so you can see the difference.

Release Notes

Fixed incorrect bar colors, note: it's actually intended to be green on rising volume and red on declining volume.

Release Notes

I found the way to include the original volume data on the chart!
The actual volume is being divided by a large number, so it doesn't break the chart.
The outcome value is small and transparent, yet it's still printed on the chart.
In this example it is divided by 1000000 or one million bitmex contracts.

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.

For quick access on a chart, add this script to your favorites — learn more here.

sarged

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

For quick access on a chart, add this script to your favorites — learn more here.

sarged