shtcoinr

Volume Based S/R

I got a question if it would be possible to Automatically draw S/R levels based on Volume rather than RSI as I had earlier done in this script; Well it certainly is and it looks as though it might even be tradeable.

The indicator compares the size of volume bars so that if there is a noticeable increase in volume (noticeable here meaning above the indicator threshold) it marks the bar high and low prior to the bigger volume candle.
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The script is very nice , thanks for your effort !
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Hii it works well... can we know what is that sigma you have commented can we know more about that.... Thanks for the indicator...
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shtcoinr nivasdhina
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@shtcoinr, thanks for your response.... will try that....
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Excellent work dude, I love this idea. I have an iteration of this myself that I'll refine and send on to you, but I really like this version. Thanks for sharing
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shtcoinr chrysopoetics
@chrysopoetics, Thanks, please do.
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