HeatVOL

First and foremost, credit goes to xdecow and his great work in the Heatmap Volume indicator. I copied it to make some changes that I wanted (mainly being able to color the volume bars and candlesticks independently).

Overview:
HeatVOL uses statistical analysis to instantly identify significant volume anomalies. By calculating Z-scores (standard deviations from the moving average), it creates a visual heatmap that highlights unusual market activity in real-time. Both candlesticks and volume bars are color-coded based on customizable thresholds, making volume surges immediately visible.

🎨 Visual Heatmap System
- Color-coded candlesticks and volume bars based on volume intensity
- Five threshold levels: Extra High (4σ), High (2.5σ), Medium (1σ), Normal (-0.5σ), and Low
- Multiple display modes: backgrounds, lines, or both
- Customizable colors for all threshold levels

🔔 Smart Alerts
- Set alerts for any threshold level
- Separate alerts for up/down volume bars
- Monitor unusual volume activity across multiple instruments

Use Cases:
- Identify institutional activity and large player participation
- Spot potential breakouts or reversals with volume confirmation
- Monitor volume climax and exhaustion patterns
- Analyze volume trends across different timeframes