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Indicator · Pine Script v6 · Own pane
Volume Average [UkutaLabs]
This indicator plots volume columns alongside an exponential moving average line of volume in a separate pane.
GitHub stars7on the repository
Pine versionv6current
Lines of code25
Settings7inputs
LicenceNone statedfile: MPL-2.0
Last update3 months ago24 Jul 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
25 lines of Pine Script v6 from pinescript/volume/volume-average-ukutalabs.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script® code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © UkutaLabs
//@version=6
indicator("Volume Average [UkutaLabs]")
import UkutaLabs/UkutaLabs_General_library/1 as ulgl
color BullishColor = input.color(defval=color.green, title="Bullish", group="Volume Bars")
color BearishColor = input.color(defval=color.red, title="Bearish", group="Volume Bars")
color NeutralColor = input.color(defval=color.gray, title="Below Average", group="Volume Bars")
int LookBackPeriod = input(defval=13, title="Look Back Period (Bars)", group="Average Volume Line")
color LineColor = input.color(defval=color.yellow, title="Line Color", group="Average Volume Line")
int LineWidth = input(defval=2, title="Line Width", group="Average Volume Line")
bool AlertVolume = input.bool(defval=true, title="Above Average Volume", group="Volume Alerts")
plot(volume, "Volume", style = plot.style_columns, color= volume > ta.ema(volume, LookBackPeriod) ? ulgl.isGreenBar() ? BullishColor : BearishColor : NeutralColor)
plot(ta.ema(volume, LookBackPeriod), "VolumeAvg", style = plot.style_line, color= LineColor, linewidth = LineWidth)
float VolumeAvg = ta.ema(volume, LookBackPeriod)
if(AlertVolume and volume > VolumeAvg and barstate.isrealtime)
alert("Above Average Volume", alert.freq_once_per_bar)
//plotshape(AlertVolume and volume > VolumeAvg, style=shape.circle, location=location.abovebar, color=color.green, size=size.small, force_overlay = true, title="Alert Signal Dot")
Overview
Volume Average [UkutaLabs] compares current bar volume against its 13-period average by default. When volume exceeds the exponential moving average, columns are colored green for bullish bars or red for bearish bars based on bar price action. If volume falls below the average line, columns display in a neutral gray. Users can adjust the lookback period, customize styling, and trigger real-time alerts for volume spikes.
- Volume columns color-coded by bar direction and average baseline
- Exponential moving average line overlay on volume
- Configurable lookback period and visual preferences
- Real-time alerts for above-average volume
Details
Published by
eddiebelaval on GitHub
Code credit
UkutaLabs, as written in the script's header
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Volume, Moving averages
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Bullish | color | color.green | BullishColor |
| Bearish | color | color.red | BearishColor |
| Below Average | color | color.gray | NeutralColor |
| Look Back Period (Bars) | int | 13 | LookBackPeriod |
| Line Color | color | color.yellow | LineColor |
| Line Width | int | 2 | LineWidth |
| Above Average Volume | bool | true | AlertVolume |
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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