This indicator combines a fast and slow exponential moving average crossover, an RSI filter, and a volume flow indicator into a weighted directional score. It draws an on-chart dashboard for those components and can plot buy or sell arrows when the score meets
Indicator · Pine Script v5 · On the chart
Volume Candles by BITMOON618
This indicator aggregates price action into constant-volume candles based on a configurable cumulative volume threshold.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code145
Settings4inputs
LicenceNone stated
Last update7 weeks ago6 Sep 2026
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
Volume Candles by BITMOON618 renders these volume bars directly on the price chart using boxes and wick lines, updating dynamically during live formation. A Zero-Lag Exponential Moving Average (ZLEMA) is computed across the closes of completed volume bars and plotted via line segments. Additionally, an on-chart summary table displays current trend orientation derived from the moving average slope. User inputs configure the volume cutoff, ZLEMA length, line color, and table positioning.
- Volume-based candle aggregation using boxes and lines
- Zero-Lag Exponential Moving Average overlay
- Dynamic live candle and wick rendering
- Customizable on-chart trend status table
Details
Published by
morindok on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Volume, Moving averages, Screeners & dashboards
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 |
|---|---|---|---|
| Volume Threshold (ÍÌã åÑ ˜äÏá) | float | 1000 | vol_thresh |
| ZLEMA Length (Øæá ãææíä ÈÏæä á) | int | 14 | ma_length |
| MA Color (Ñä ãææíä) | color | color.blue | ma_color |
| ãæÞÚíÊ ÌÏæá | string | Top Right | tb_pos |
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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