The "5% Change and High Volume Alert" Pine Script indicator for TradingView is designed to alert traders when the market experiences a significant price movement of at least 5% within a 5 to 10-minute window, accompanied by unusually high trading volume. This dual-condition indicator calculates the percentage change in price over the specified interval and detects...
Hello dear traders,
Today we're discussing an indicator I've coded: the Volume Spike Indicator (VSI).
The indicator isn't a groundbreaking invention and certainly not a novelty. Nevertheless, I haven't seen this version of the indicator on TradingView before, so I'd like to introduce it.
1. The Origin of the Idea:
We're all familiar with volume charts: A...