TernTable: VolViz

VolViz - Overview

VolViz is designed to give traders an instant volume strength visualisation tool using multiple timeframes. It provides an interactive table overlay that allows users to track volume metrics across a range of custom-selected timeframes. The table can dynamically display relative volume (RVOL), average volume, and current volume for each selected timeframes in real time.

Additionally, users can toggle various features and adjust thresholds to receive alerts for both high and low volume conditions.

Key Features

* Volume Metrics: Displays three main volume-related data points across multiple timeframes: Relative Volume (RVOL), Average Volume, and Current Volume.

* Timeframe Flexibility: Supports a range of customisable timeframes from seconds, minutes, hours to daily weekly and monthly intervals up to 12 months. Users can select which timeframes to display.

* Dynamic Table: A table is dynamically updated with data for each enabled timeframe, allowing traders to quickly compare volume data across different periods.

* Optional alert System: Includes alert functionality for high and low volume conditions based on customisable thresholds. Alerts can be set for a minimum number of timeframes for a condition to trigger.

Colour Logic

The script uses specific colours to enhance the visual alert properties that represent different ranges of Relative Volume (RVOL), which are used in the table to visually highlight the volume data:

1. Red: RVOL is less than 1.0, indicating low relative volume.
2. Green: RVOL is between 1.0 and 1.2, indicating moderate relative volume.
3. Purple: RVOL is between 1.2 and 1.5, indicating above average relative volume.
4. Orange: RVOL is between 1.5 and 2.0, indicating higher relative volume.
5. Yellow: RVOL is greater than 2.0, indicating very high relative volume.

How to use

1. Inputs:

* Volume Period: Set the period for calculating the moving average of volume (14 period default).

* The script defaults to the 2m 5m 15m 30m 1h 4h 12h D W M timeframes but user defined custom timeframes can be used (comma-separated) to specify the timeframes to track ( e.g "D,W,M,3M,6M,12M”) to a max of 10 timeframes. The table dynamically adjusts its size dependant on how many timeframes the user chooses to input.

* Table Position: Choose where to display the table: Top Left, Top Right, Bottom Left, or Bottom Right.

* Maximum Decimal Places: Control how many decimal places are shown for volume data.

2. Toggles:

* Enable High Volume Alert: Toggle this to activate the high volume alert.

* Enable Low Volume Alert: Toggle this to activate the low volume alert.

* Enable Minimum Timeframes for Alerts: Toggle this to require a specific number of timeframes to meet the alert condition before triggering.

* Pane Labels: There is also an optional debug label found in the Style tab to identify / confirm the current mode selected and the number of timeframes that meet the alert mode criteria.

The Show Row toggles can be utilised to include or exclude rows to take up less space on the chart.

* Show RVOL Row: Toggle to show the relative volume row in the table.

* Show Avg Volume Row: Toggle to show the average volume row in the table.

* Show Current Volume Row: Toggle to show the current volume row in the table.

* Show Spacer Row Below Table: Toggle to show or hide a blank spacer row below the table.

* Show Spacer Row Above Header: Toggle to show or hide a blank spacer row above the header.

3. How the Table Works:

* The table is populated with the following rows:

1. Spacer Row Above Header (optional): Adds space above the table header.

2. Header Row: Displays the timeframes (e.g., "1h", "4h", "12h", etc.).

3. Relative Volume (RVOL): Shows the RVOL for each timeframe, colored according to the thresholds.

4. Average Volume: Shows the average volume for each timeframe.

5. Current Volume: Displays the current volume for each timeframe.

6. Spacer Row Below Table (optional): Adds space below the data rows.

4. Optional Visual Alerts:

* High Volume Alert: When the current volume exceeds the default or user specified threshold compared to the average volume for the enabled timeframes.

* Low Volume Alert: When the current volume is below the default or user specified threshold compared to the average volume for the enabled timeframes.

When the visual alerts trigger unobtrusive diamonds will appear on the chart. White diamonds above the bar to indicate high volume and yellow diamonds below the bar to indicate low volume. These are not trend direction nor entry or exit signals but may be used in conjunction with other indicators for contextual purposes.

Questions or comments are always welcomed and I hope it helps with your trading !