OPEN-SOURCE SCRIPT
Vision Volume
After reading an article on how to trade volume I felt that I needed some kind of indicator using price action and volume together.
More precisely I tried to build two indicators. Bear in mind this indactor is very simple because it only evaluates each bar with its previous bar and an average.
Nr.1 Weak/fake push: Price suddenly goes up/down a lot more but without much volume being traded -> sign of a fake move or low interest
Nr 2 Price action resistance: After an up or down move price suddenly stops moving but high volumes are being traded. This means high resistance from sellers in a rally or buyers in a decline.
This is very simple and as you can see it is often not a clear signal. I will try to improve it further. If a fake move bar (purple) has a close near its new high we don't know if the fake push will continue. As you can see on the chart. some reversal signs come a little to early.
You can re-color labels and turn them off optionally.
This is built for educational purposes only. I hope you find it useful.
Design by Hook
More precisely I tried to build two indicators. Bear in mind this indactor is very simple because it only evaluates each bar with its previous bar and an average.
Nr.1 Weak/fake push: Price suddenly goes up/down a lot more but without much volume being traded -> sign of a fake move or low interest
Nr 2 Price action resistance: After an up or down move price suddenly stops moving but high volumes are being traded. This means high resistance from sellers in a rally or buyers in a decline.
This is very simple and as you can see it is often not a clear signal. I will try to improve it further. If a fake move bar (purple) has a close near its new high we don't know if the fake push will continue. As you can see on the chart. some reversal signs come a little to early.
You can re-color labels and turn them off optionally.
This is built for educational purposes only. I hope you find it useful.
Design by Hook
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.
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.
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.