Vol color bars
Highlight bars according it's volume releative to near candles. This script usefull for VSA trading.
Red bar - extrime high volume
Orange bar - volume is high
Grayish bar - volume is normal
Green bar - volume is low
Blue bar - almost no volume
Red bar - extrime high volume
Orange bar - volume is high
Grayish bar - volume is normal
Green bar - volume is low
Blue bar - almost no volume
study(title="Vol color bars", shorttitle="VolBar", overlay=true) std_len = input(40, minval=5, title='Deviation lenght') thresshold1 = input(200, minval=0, title='Thresshold 1') / 100 thresshold2 = input(300, minval=0, title='Thresshold 2') / 100 thresshold3 = input(50, minval=0, title='Thresshold Low 1') / 100 thresshold4 = input(25, minval=0, title='Thresshold Low 2') / 100 color1 = #FF0000 color2 = #FF9100 color3 = #888818 color4 = #00DD23 color5 = #0099FF avg = stdev(volume, std_len) highvol1 = volume > avg * thresshold1 highvol2 = volume > avg * thresshold2 lowvol1 = volume < avg * thresshold3 lowvol2 = volume < avg * thresshold4 color = highvol2 ? color1 : highvol1 ? color2 : lowvol2 ? color5 : lowvol1 ? color4 : color3 barcolor(color) // upbar = close[1] - close // plotarrow(upbar, transp=60, colorup=red, colordown=green)