This script is a custom volume indicator with additional features. But why is this useful? The minimum and maximum volumes, in different time periods, are displayed by labels below the bars. I call them "Peaks" and "Troughs". Hover your mouse cursor over the labels to see more details.
These parameters are widely used in technical analysis.
If traders want to confirm a reversal on a level of support–or floor–they look for high buying volume. Conversely, if traders are looking to confirm a break in the level of support, they look for low volume from buyers.
If traders want to confirm a reversal on a level of resistance–or ceiling– they look for high selling volume. Conversely, if traders are looking to confirm a break in the level of resistance, they look for high volume from buyers.
For example, take a look at the chart.
Settings menu parameters {Dialog Box} => Parameter to show / hide the dialog box. {Visual Parameters} => Parameters to personalize the appearance of the indicator. { Alert Conditions Part 01: Peaks ⏰ "} => Parameters to customize the alert. { Alert Conditions Part 02: Troughs ⏰ "} => Parameters to customize the alert. {Volume MA} => Moving average settings
How to use alerts Note that by creating an alert, an instance of the indicator, with all your settings, will be activated on the site's server and alerts will be triggered by it. After that, changing the indicator settings on the chart will no longer affect the alert.
Open the settings window and select the alert conditions as you wish
Click the Create Alert button (or press the A key while holding down the ALT key)
In the Condition section, select the name of the indicator.
Make the rest of the settings as you wish.
Finally, click on the Create button.
It's finished. After a few moments, your alert will be added to the Alerts menu.
Limits
The labels are displayed after the bars close.
Labels are displayed for the last 10,000 bars.
References: Investopedia
เอกสารเผยแพร่
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Handling of special situations where volume information is not provided by the vendor
เอกสารเผยแพร่
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The following bug (in free accounts) has been fixed: "study references too many candles in history" From now on, labels will be displayed for the last 5,000 bars.
เอกสารเผยแพร่
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You can now display report tables from the settings menu:
when i add the indicator it shows red exclamation and i can't use it :(
BobRivera990
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@guntacdurak,
Please give me more information or send a screenshot.
Please tell me which chart and what timeframe are you using?
I have checked this in different types of charts and at different timeframes and have not seen any error.
BobRivera990
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BobRivera990
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@guntacdurak,
Error fixed. Please try again and let me know.💚
@BobRivera990, Have installed it and its showing a red exclamation mark
BobRivera990
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@Mabirds, Please hover you mouse over the red exclamation mark to see the error text
rollo54
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If I have the indicator on a six hour chart and the label comes up as The highest volume for one month, does that mean this particular six hour bar is the highest volume six hour bar in the last month?