OPEN-SOURCE SCRIPT
SMA Custom Volume Bands
The "SMA Custom Volume Bands" indicator is a custom technical analysis tool designed for use on the TradingView platform. This indicator allows users to analyze and visualize key aspects of a stock's volume within the context of its 200-period Simple Moving Average (SMA). It features the following components:
Volume Bars: The indicator displays the volume of a selected financial instrument using colored bars. Green bars represent days when the trading volume is higher than the previous day, while red bars represent days when the trading volume is lower.
200 SMA of Volume: A blue line on the chart represents the 200-period Simple Moving Average of the trading volume, providing insight into the longer-term volume trend.
Customizable Percentage Line: Users have the flexibility to set a custom percentage value above or below the 200 SMA of trading volume. This line is plotted as a blue line on the chart, allowing traders to identify when volume meets their preferred percentage threshold.
The "SMA Custom Volume Bands" indicator is a simple tool for traders, aiding in the assessment of volume trends and potential price reversals in the context of moving averages. It offers customization options, enhancing its adaptability to individual trading strategies and preferences.
Volume Bars: The indicator displays the volume of a selected financial instrument using colored bars. Green bars represent days when the trading volume is higher than the previous day, while red bars represent days when the trading volume is lower.
200 SMA of Volume: A blue line on the chart represents the 200-period Simple Moving Average of the trading volume, providing insight into the longer-term volume trend.
Customizable Percentage Line: Users have the flexibility to set a custom percentage value above or below the 200 SMA of trading volume. This line is plotted as a blue line on the chart, allowing traders to identify when volume meets their preferred percentage threshold.
The "SMA Custom Volume Bands" indicator is a simple tool for traders, aiding in the assessment of volume trends and potential price reversals in the context of moving averages. It offers customization options, enhancing its adaptability to individual trading strategies and preferences.
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.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.