Time-Specific Volume Average

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A volume indicator based on historic volume.

Checks for the average volume in the past few days at the same time of day. This helps you determine when there is truly volume in the markets.

We will see often see sustained volume above the average during a clear trend. If you see spikes in volume without it being sustained above the average, it is very likely that the trend will die off quickly.

This is very helpful in determining whether to trade based on a trend following system, or a range based system.

Settings are below:

• Days to average: Number of days to look back(tradingview has limits depending on your plan)
  
• SMA Length: Number of "volume averages" to look at. Keep this at 1 if you want the average volume at the exact moment in the day. If you increase it, will also average in the past few [SMA Length] candles of "volume averages".
  
• SMA Multiplier: Multiplies the SMA by this amount(helps to get higher quality trends)
  

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Sürüm Notları

Added proper license at the top.