OPEN-SOURCE SCRIPT
Volume Expansion vs 20-Day Average
This indicator compares the current bar’s volume with the average volume of the previous 20 periods.
It highlights moments of volume expansion, where trading activity exceeds its recent norm, often associated with increased participation, momentum, or institutional interest.
The indicator is designed to be used as a filter, not a standalone signal. It is particularly useful for confirming breakouts, momentum setups, or avoiding low-quality trades during low-liquidity conditions.
Volume thresholds can be adjusted to require a minimum multiple of the average volume, allowing traders to focus only on meaningful volume surges.
It highlights moments of volume expansion, where trading activity exceeds its recent norm, often associated with increased participation, momentum, or institutional interest.
The indicator is designed to be used as a filter, not a standalone signal. It is particularly useful for confirming breakouts, momentum setups, or avoiding low-quality trades during low-liquidity conditions.
Volume thresholds can be adjusted to require a minimum multiple of the average volume, allowing traders to focus only on meaningful volume surges.
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.