OPEN-SOURCE SCRIPT

Horizontal Volume

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Plot the last length volume observations horizontally on the price graph by using rescaling, with a position relative to the price highest, lowest, or moving average. Note that the indicator is subject to repainting.

Settings

  • Length: Determine the number of histogram bars to be plotted
  • Src: Determine the scale of the indicator
  • Relative Position: Determine how the bars are plotted
  • Unicolor: If TRUE, the histogram bars will have the same color, else the color is a gradient.


Details

The relative position setting determines how the histogram bars are plotted, by default "Lowest", this set the base of the plot at the lowest src value over length periods.

snapshot

If "Highest" is selected, the base become the highest src value over length periods.

snapshot

Finally "Moving Average" set the base value equal to the price moving average with period length, however this mod work differently, as it allows the bars to have a "negative" value.

snapshot

Negative bars indicates that the volume at that precise point is lower than the mean of the last length volume observations.

The gradient tells you how close the volume is to the maximum value of the last length volume observations, with bluer colors indicating a volume closer to its maximum value.

Usage

The indicator gives you information on the volume, but you can use it more creatively since it can be really close to the price. For example, you can make support and resistances from the indicator:

snapshot

Here we make a resistance from the highest bars displayed by the indicator. If you have other ideas feel free to share.

Summary

Rescaling is nice, and line.new allows you to plot pretty much everything you want, in the order you want, this is how this script was achieved.

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Notes de version
fixed indicator behavior when volume is na
horizontalrepaintrescalingVolume

Script open-source

Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?


Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
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