OPEN-SOURCE SCRIPT
Volume accumulation on past range [TCS] | VTA
The indicator calculates buy and sell volume values for different look-back periods based on the high, low, close, and tick volume data of the chart.
The range can be selected by adding the end date and the look-back period, which starts from the end date. It can calculate a maximum of 100 candlesticks.
The calculated buy and sell volume values are stored in separate variables, representing cumulative volume values over their respective look-back periods. It's important to note that the provided code calculates the buy and sell volume values individually for each look-back period and then sums them.
This information can be useful in understanding who is in control of the market during the selected range. The 'heatmap' is particularly helpful in identifying areas of high or low trading activity, which can help define support and resistance levels.
For example, if there is a greater accumulation of bullish volume than bearish volume and a break occurs in a resistance area, it may present a good entry opportunity.
Please note that this indicator is for educational purposes only and should not be used for trading without further testing and analysis.
The range can be selected by adding the end date and the look-back period, which starts from the end date. It can calculate a maximum of 100 candlesticks.
The calculated buy and sell volume values are stored in separate variables, representing cumulative volume values over their respective look-back periods. It's important to note that the provided code calculates the buy and sell volume values individually for each look-back period and then sums them.
This information can be useful in understanding who is in control of the market during the selected range. The 'heatmap' is particularly helpful in identifying areas of high or low trading activity, which can help define support and resistance levels.
For example, if there is a greater accumulation of bullish volume than bearish volume and a break occurs in a resistance area, it may present a good entry opportunity.
Please note that this indicator is for educational purposes only and should not be used for trading without further testing and analysis.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
For the access to premium indicators please contact me on tradingview
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
For the access to premium indicators please contact me on tradingview
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.