Volume Cluster Alert

This script is designed to highlight unusual trading volume activity that may be relevant for users analyzing potential shifts in market behavior. It detects significant deviations in volume compared to historical averages and identifies recurring volume patterns within a user-defined timeframe.

When such activity is detected, the indicator displays visual labels above or below the price chart. Labels appearing above the chart (red by default) correspond to specific volume patterns during upward price movement. Labels below the chart (green by default) reflect similar volume behavior during downward movement.

Clusters of labels — especially when multiple of the same color appear within a short period — can be visually useful for observing potential changes in price dynamics. These groupings are meant to support the user’s own analysis and decision-making process.

Users can customize the color of the labels and adjust the sensitivity of the detection parameters to better align with their trading style or chart settings.

Please note: This indicator does not predict market direction or generate trading signals. It is a visual tool that highlights specific volume conditions, which may be interpreted by the user in combination with other technical or analytical methods.