This indicator marks momentum breakouts on the price chart. A signal appears only when the bar makes a new high over the lookback, volume is at least a chosen multiple of the 20-bar average, the percentage change from the prior close meets a minimum, the close
Indicator · Pine Script v6 · On the chart
Volume Price Indicator
This indicator plots colored volume bars on the price chart, where green shows price up days and red shows price down days.
GitHub stars1on the repository
Pine versionv6current
Lines of code46
Settings5inputs
LicenceNone stated
Last update1 year ago31 Mar 2025
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 Price Indicator also draws an EMA of volume in yellow. The script detects bullish and bearish divergences by comparing price highs/lows to volume highs/lows over a lookback period and plots corresponding arrows. It adds volume breakout signals filtered by RSI, where volume exceeding a moving average times a multiplier with RSI below 30 signals buys and above 70 signals sells, again using plotshapes for arrows. All elements draw directly on the price chart as an overlay. Main settings control EMA period, lookback for divergences, volume MA length, RSI period, and volume multiplier. It has no stop loss or position management as it is a pure indicator.
- Volume bars colored by price direction
- Volume EMA plot
- Bearish divergence detection
- Bullish divergence detection
- Volume breakout with RSI filter
Details
Published by
fuyuanyuan on GitHub
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Volume, Moving averages, Divergence, Breakout
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.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| EMA Period | int | 20 | ema_period |
| 回溯周期 | int | 48 | lookback |
| 成交量均线周期 | int | 20 | lengthMA |
| RSI周期 | int | 14 | rsiPeriod |
| 成交量倍数 | float | 1.5 | volumeMultiplier |
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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