The Momentum Setup is a multi-indicator visual tool designed for trend and momentum analysis directly on the price chart. It combines Relative Strength Index (RSI), Money Flow Index (MFI), Commodity Channel Index (CCI), Supertrend, and a 250-bar percentage cha
Indicator · Pine Script v4 · On the chart
High Volume Bars Strategy
This indicator detects unusual spikes in trading volume to identify potential institutional activity.
GitHub stars23on the repository
Pine versionv4older, still runs
Lines of code43
Settings2inputs
LicenceNone stated
Last update3 years ago27 Jul 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
High Volume Bars Strategy calculates a simple moving average of volume over a specified length and flags bars where volume exceeds this average multiplied by a user-defined threshold. Bullish candles that cross above the threshold trigger green buy arrows below the bar, while bearish candles trigger red sell arrows above the bar. Plotted directly on the price chart, it also includes code for a cumulative volume-weighted average price crossover signal.
- Volume spike detection using a simple moving average
- Configurable lookback length and volume multiplier
- Directional candle coloring based on close and open comparison
- On-chart shape markers for institutional entry signals
- Cumulative volume-weighted average price calculations
Details
Published by
AGuyNamedDJ on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Volume, Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
equitiespinescripttradingviewopen-source
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 14 | length |
| Multiplier | int | 2 | multiplier |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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