OPEN-SOURCE SCRIPT

VHB by bigmm

335
Volume-Based Support/Resistance Levels Indicator identifies significant price levels based on high-volume trading activity across three timeframes (4H, D, W). The script draws horizontal lines at key support/resistance levels where trading volume exceeded 60% of the maximum volume observed over the previous 499 periods.

Analyzes volume spikes on 4-hour, daily, and weekly timeframes

Displays colored lines (green for bullish candles, red for bearish candles)

Maintains only the 5 most recent significant levels to avoid chart clutter

Labels each line with its respective timeframe (4H, 1D, 1W)

Lines extend in real-time to show current relevance of each level

Traders can use these volume-based levels to identify potential support/resistance zones and make informed decisions about entry/exit points, recognizing areas where significant trading activity previously occurred.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.