A new take to an already popular indicator of mine, now with lower time frame support for a volume called Volume Trend Meter LTF (VTML). The VTM LTF indicator measures the volume pressure at a specific part of the candle (Start, Middle, or the end of the candle) and displays it as a histogram. This indicator sums up all green candle volumes and red candle volumes over the selected part of the candle (Select in settings - start end or middle) and plots their values by subtracting increasing volume and decreasing volume. Use this indicator to identify increasing volume with the green candles (close bigger than open) and increasing volume of the red candles (close is smaller than open). Can also work on daily charts and higher.
======= Calculation ========== For Green Column: The total Volume of green candles is higher than the total red candle volume. For Red Column: The total Volume of red candles is higher than the total green candle volume.
@dogekao, Great compliment! glad you find it useful.
krishina
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Absolutely outstanding, God bless your generosity
ChiragPatnaik
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This is excellent. Do consider adding a (selectable) feature where it automatically adjusts to the last pivot. I'm still new to Pine coding, else I might have taken a shot at extending this.
dman103
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@ChiragPatnaik, Hey, thanks for your feedback, what do you mean by "adjust to the last pivot"?
KenshinC
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Great work. Thank you very much. Could you research about Volume and time, like s=v*t?
dman103
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@Tranquoccuong, interesting thought, will require some thinking :)
Kao_5MIN
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Awsome indicator! Can i used it for scalping 5min And 15min?!✅🙏🏻
dman103
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@Kathleen_5MIN, Appirhcate it. You can experiment with scalping + add additional indciator/s to confirm signals.
yashpalgowda
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I think it's a good volume indicator,usually volume indicator shows up their is good volume are not,but it shows selling/buying pressure By adding MA to it in buying and selling pressure we can see is their a good volume or not