Calculates the standard Money Flow Index (MFI) oscillator alongside an exponential moving average signal line in a separate pane. The script visually highlights trend conditions through dynamic ribbon filling, optional difference histogram bars, and overbought
Indicator · Pine Script v4 · Own pane
Volume
This indicator plots trading volume as a column chart in a separate pane with dynamic gradient coloring.
GitHub stars65on the repository
Pine versionv4older, still runs
Lines of code17
Settings3inputs
LicenceGPL-3.0
Last update4 days ago24 Oct 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
17 lines of Pine Script v4 from examples/v4/tradingview-docs/v4-essential-colors-03.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
study("Volume")
// We name our color constants to make them more readable.
var color C_GOLD = #CCCC00ff
var color C_VIOLET = #AA00FFff
color i_c_bull = input(C_GOLD, "Bull")
color i_c_bear = input(C_VIOLET, "Bear")
int i_levels = input(10, "Gradient levels", minval = 1)
// We initialize only once on bar zero with `var`, otherwise the count would reset to zero on each bar.
var float riseFallCnt = 0
// Count the rises/falls, clamping the range to: 1 to `i_levels`.
riseFallCnt := max(1, min(i_levels, riseFallCnt + sign(volume - nz(volume[1]))))
// Rescale the count on a scale of 80, reverse it and cap transparency to <80 so that colors remains visible.
float transparency = 80 - abs(80 * riseFallCnt / i_levels)
// Build the correct transparency of either the bull or bear color.
color c_volume = color.new(close > open ? i_c_bull : i_c_bear, transparency)
plot(volume, "Volume", c_volume, 1, plot.style_columns)
Overview
Volume assigns distinct colors for bullish and bearish price bars based on whether the close is above the open. The transparency of each column dynamically adjusts based on consecutive increases or decreases in volume relative to the previous bar. The user can configure the bull and bear colors as well as the number of gradient levels used to adjust transparency.
- Dynamic volume column gradient coloring
- Customizable bull and bear color inputs
- Configurable gradient levels for transparency scaling
- Consecutive volume change tracking
Details
Published by
be-thomas on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Volume
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
algorithmic-tradingbacktestingcompilerfintechjavascriptpinescripttechnical-analysistradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Bull | input | C_GOLD | i_c_bull |
| Bear | input | C_VIOLET | i_c_bear |
| Gradient levels | int | 10 | i_levels |
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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