OPEN-SOURCE SCRIPT
Modified Volume Indicator
This indicator colors volume bars based on price and range conditions for a given period:
Green Bars:
The close is at least 70% of the way up the daily range (from the low).
The close is also 1% or more above the low.
Red Bars:
The close is at least 70% of the way down the daily range (from the high).
The close is also 1% or more below the high.
Gray Bars:
Volume bars that don’t meet the above conditions are neutral.
Purpose
Green Bars highlight strong upward closes.
Red Bars indicate weak downward closes.
Gray Bars show neutral or inconclusive price movement.
This indicator helps traders identify momentum shifts and trend strength in real-time.
Green Bars:
The close is at least 70% of the way up the daily range (from the low).
The close is also 1% or more above the low.
Red Bars:
The close is at least 70% of the way down the daily range (from the high).
The close is also 1% or more below the high.
Gray Bars:
Volume bars that don’t meet the above conditions are neutral.
Purpose
Green Bars highlight strong upward closes.
Red Bars indicate weak downward closes.
Gray Bars show neutral or inconclusive price movement.
This indicator helps traders identify momentum shifts and trend strength in real-time.
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Bir grafikte kullanmak için favorilere ekleyebilirsiniz.
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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.