OPEN-SOURCE SCRIPT
Updated Projected Volume
The indicator projects what each candle's final volume will be based on the amount of volume per second so far.
Options:
When Volume Pressure is enabled:
On a green candle:
On a red candle:
If Volume Bars Overlap with Chart:
By default, the volume bars are overlayed in the same chart pane as the candles, with the scale on the left side. If they overlap and interfere with the candles, you can fix with these options:
To move indicator to a new pane below the chart:
To adjust volume bar scale:
To update to the latest version, just close the indicator and add it again.
Options:
- Disable Projected Volume: Show current volume Instead of projecting the final volume
- Show Volume Pressure: Adds a visual representation of the volume from the candle wick that is moving against the current direction.
When Volume Pressure is enabled:
On a green candle:
- The red part represents the upper wick, the volume as the price comes back down from its high
- The green part represents the rest of the candle, the volume as the price goes up from its low to the close
On a red candle:
- The green part represents the lower wick, the volume as the price comes back up from its low
- The red part represents the rest of the candle, the volume as the price goes down from its high to the close
If Volume Bars Overlap with Chart:
By default, the volume bars are overlayed in the same chart pane as the candles, with the scale on the left side. If they overlap and interfere with the candles, you can fix with these options:
To move indicator to a new pane below the chart:
- Select the indicator and click on the 3 dots "..."
- Select Move To > New Pane Below
- Select Pin to Scale > Pin to Scale A (this will move the scale to the right side)
To adjust volume bar scale:
- Go to the scale on the left/right side, hold down the mouse and drag it up/down to make the volume bars longer/shorter
- To move the entire volume block up/down on the chart, click on the volume bars and hold down the mouse, then drag it up/down
To update to the latest version, just close the indicator and add it again.
Release Notes
Fixed problem with volume bars jumping around when switching between tickers. Added a hidden scale line that keeps them relatively consistent.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.