This indicator plots a volume-weighted MACD in a separate pane. It subtracts a slow volume-weighted moving average of close from a faster one, then smooths that line with an exponential moving average to form the signal. A column histogram shows the gap betwee
Indicator · Pine Script v4 · Own pane
Volume Flow v3 (Rescaled Update)
This indicator measures normalized buying and selling volume pressure in a separate pane.
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code54
Settings3inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
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 Flow v3 (Rescaled Update) rescales volume, open, and close prices over a selected lookback period using min-max normalization. Volume is categorized into bullish or bearish pressure based on bar color and smoothed using a choice of Simple, Exponential, or Double Exponential Moving Averages. It highlights volume spikes when normalized volume crosses above a defined moving average multiplier threshold.
- Min-max volume and price normalization
- Separated bullish and bearish volume tracking
- Multiple MA calculation types (SMA, EMA, DEMA)
- Volume spike detection via breakout factor threshold
- Visual color-coded volume columns and difference area plots
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
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 |
|---|---|---|---|
| Moving Average Type | string | Simple | maType |
| MA Length | int | 14 | length |
| Factor For Breakout Candle | float | 3.1 | x |
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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