KivancOzbilgic

Volume Based Coloured Bars

Volume Based Coloured Bars:

Most of the time traders are confused about if the price movements were supported by VOLUME .
This indicator colors the bars into volume weighted signals...

When prices go down bars are red and contraversely when up, bars are green. Additionally we have two more colors for each
situation:

PRICE BARS ARE:

DARK RED when prices go down and VOLUME is bigger than 150% of its (default 21 day) average, that indicates us price action is supported by a strong BEARISH VOLUME

RED when prices go down and VOLUME is BETWEEN 50% AND 150% of its (default 21 day) average, at this situation we can think that volume is neither strong nor weak

ORANGE when prices go down and VOLUME is just less than 50% of its (default 21 day) average, so the volume is weak and doesn't support the price action much




DARK GREEN when prices go UP and VOLUME bigger than 150% of its (default 21 day) average, that indicates us price action is supported by a strong BULLISH VOLUME

GREEN when prices go UP and VOLUME is BETWEEN 50% AND 150% of its (default 21 day) average, at this situation we can think that volume is neither strong nor weak

LIGHT GREEN when prices go UP and VOLUME is just less than 50% of its (default 21 day) average, so the volume is weak and doesn't support the price action much


21 day Simple Moving Average used as default value which can be changed in the settings menu,

21 day is considered as a month for STOCK Markets, it would be more accurate to set the value to 30 for CRYPTO CURRENCIES

Notes de version: light green color updated...
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Twitter: @kivancozbilgic
Youtube: http://youtube.com/c/kivancozbilgic

Commentaires

Hello thank you so much for this script it is the most amazing one! So accurate in determining bull bear pressure with volume easy to read and understand. I love you.
Is there anyway to modify the script in order to include alerts for when the candle changes color? For instance an alert To when the candle turns dark Red or dark green?
+8 Répondre
EXCELLENT EXCELLENT MİKKEEEMMMEEEL ANLATMAYA GERENK YOKKK.HERŞEY ORTADA.
+4 Répondre
Quick modification I made to be able to color red/green based on last close instead:

study("Volume Based Coloured Bars", title="VCB", overlay=true)
length=input(21, "length", minval=1)
avrg=sma(volume,length)
style = input(title="color based on:", defval="Open" ,options =)

isred = style == "Last close" ? change(close) < 0 : close < open
isgreen = not isred

highvolume = volume > avrg*1.5
lowvolume = volume < avrg/1.5
mediumvolume = not (highvolume or lowvolume)

vold1 = highvolume and isred
vold2 = mediumvolume and isred
vold3 = lowvolume and isred

volu1 = highvolume and isgreen
volu2 = mediumvolume and isgreen
volu3 = lowvolume and isgreen

cold1=#800000
cold2=#FF0000
cold3=orange

colu1=#006400
colu2=lime
colu3=#7FFFD4

color = vold1 ? cold1 : vold2 ? cold2 : vold3 ? cold3 : volu1 ? colu1 : volu2 ? colu2 : volu3 ? colu3 : na

barcolor(color)
+3 Répondre
@saolof, Can you please check the line style=input(....). Getting syntax error. Can you please also explain, what is the modification you are trying to make, so that I can understand the concept.
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saolof lapoghsrik
@lapoghsrik, Should have as the options in the input. It's just so you can choose between having red or green depending on Close > Open or depending on Close > Close
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@saolof, Thank you . Regards
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You're the king. The guys on the twitter who learn to do two analyzes and follow each other as master can not even pour water in your hand. Thank you
+3 Répondre
Masterpiece !!! Thank you very much for your valuable efforts.
+3 Répondre
Çok teşekkürler, emeğine sağlık Kıvanç Hocam...
+1 Répondre
Using your Inverse Fisher indicators on the opening analyzing page for a token and this was the missing one to see the volume behind the move. Thanks, appreciate it very much.
+1 Répondre
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