OPEN-SOURCE SCRIPT
Updated Volume Balance Indicator Stealthy7
Find out if Bulls (buys) or Bears (sells) are moving the price. This gives a clear view of activity, even if you are using a higher time period. The lookback is in minutes, I believe. This is a superior volume indicator. Bars are recolored to show the underlying activity per the look back (minutes).
Release Notes
In this version I fixed the average volume (grey background). If volume eclipses the grey area, its above average by 30 periods.Release Notes
Automatic lookback.Bar re-color option.
Wow! Really shows whats going on.
Release Notes
I got rid of the old way displayed. This is much more useful and looks totally different.I added Standard deviation bands. Now you know if the volume is really on.
I used a hard coded lookback of 30 because its supposed to be significant (?)
Now you can really see a summary of the underlying minute to minute activity on higher bands.
Release Notes
I added a resolution dropdown box and a lookback period. I think this is closer to my original idea. You can view longer periods on a small timeframe. I think you can do vice versa like I originally intended. Not sure, but this is likely final update for this one. I realize now this is like an On Balance Volume indicator with some extras. I think this version is more useful.Release Notes
Changed some unnecessary code and default settings.Release Notes
Script depreciated. No support.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.