Shows volume spikes over a certain threshold, using a symbol's volume moving average as the baseline. Offers a few different filters regarding candle shapes and types, in an attempt to catch quick moves on extremely low timeframes (sub-1m).
Ultimately I would like to integrate this logic into an indicator that contains automated stop raid/inducement detection.
Notes de version
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Added session parameter so that volume spikes will only be shown within a valid timeframe. Also added an offset so that volume spikes are being shown on the appropriate candles, since a valid low/high requires a 3 bar pattern and therefore makes the signals "lag" by 1 bar.
Notes de version
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Added a step size of 0.1 for the volume multiplier in order to make smaller adjustments (rather than the default step size of 1).
Notes de version
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Can now create alerts from volume spikes, and also change the signal colors.
Love it, so its just buy when green and sell when red? I am backtesting it with my setups and seems great for this. I'm I using that right?
michaeld3fi
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@superawesome191991, more or less. But you should combine with other indicators, especially momentum ones.
Taofeekkasumu
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I doesn’t show on chart please help
AlexsOptions
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Absolutely positively rad
aly3saf
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Does anyone know what is the period for the volume SMA length in settings, is it days, weeks,....?
nico_demus420
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Nice indicator but it does repaint. Sometimes you'll get a bullish spike and if the next candle goes heavily against you, it will erase the signal on the prior candle. So back testing it will not show you the instances where you get immediately blown up.
SansTrades
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Nice work! Let me ask, does it repaint?
SansTrades
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@SansTrades, I'm assuming that even if it doesnt, since it has an offset of -1, you always enter a candle late, am I wrong?