Volume High Alert by ToledoCandelaria

This custom TradingView indicator visualizes volume activity by plotting colored boxes under each bar, highlighting different volume levels relative to a moving average. It helps traders identify significant volume spikes or drops, which can signal potential market moves or reversals.Key Features:Volume Analysis: The indicator compares the current bar's volume to a user-defined Simple Moving Average (SMA) of volume, calculated over a customizable period (default: 30 bars).
Color-Coded Boxes: Each bar is represented by a box with a color indicating its volume strength:Purple: Ultra-high volume (exceeds the SMA by a user-set multiplier, default: 2.0x).
Yellow: High volume (exceeds the SMA by a smaller multiplier, default: 1.5x, but below ultra-high).
Blue: Low volume (below the SMA by a user-set multiplier, default: 0.5x).
Green: Normal volume (falls within the defined thresholds).

Customizable Settings:Adjust the SMA length to fine-tune the volume baseline.
Modify the multipliers for ultra-high, high, and low volume thresholds.
Set the width of the boxes (in bars) for visual clarity.
Limit the number of displayed boxes (default: 500) to manage chart performance.

Alerts: The indicator includes an alert condition that triggers when a high-volume (yellow) bar is detected, allowing traders to stay informed of significant volume spikes in real-time.

How to Use:
Add the indicator to your TradingView chart (not as an overlay) and adjust the input settings to match your trading strategy. Watch for purple and yellow boxes to spot potential breakout or reversal signals, and use blue boxes to identify periods of low activity. Enable the alert to receive notifications for high-volume bars.This indicator is ideal for traders looking to monitor volume surges and lulls, providing a clear visual representation of market activity directly on the chart.

I hope that helps!
by Excalibur