Simple Volume with Pocket Pivots

18 kwi 2022

This is a minimalistic indicator that, instead of introducing more bells & whistles, strips away the conventional volume indicator from a lot of “noise”, and displays only 3 type of volume bars prominently:

• Blue bars: Pocket Pivot Volumes (PPV), that is an up-day volume which is greater than the highest down-day volume of the last 10 down-days.
  
  
• Red bars: Down-day volumes that are greater than 50-period moving average of the volume.
  
  
• Green bars: Up-day volumes that are greater than 50-period moving average of the volume.
  
  

All other volumes are “noise” & need not be kept into any actionable consideration. All these bars are dark grey.

While initiating a long entry, we need to look out for only these 3 volume bars in this way:
RRV (recent red volumes) are indicative of unconsumed supply. Either the highs of those red days be taken out, or these RRVs be suceeded later by higher RGV (recent green volumes). Pocket Pivot Volumes (PPV) are the best indicator of institutional accumulation. Multiple PPVs in a consolidation base, & in a breakout candle are very bullish signals.

Please also note that moving average of the volume is also purposely hidden, as the dark grey bars themselves are indication of a below-average volume. Rather than looking at each bar & comparing it to the overlying moving average line, the color scheme itself is self-explanatory, & devoid of distractions.

28 sie 2022

Informacje o Wersji

Updates:

• Added orange color bars to depict very low “dry” volumes. By default, these are visible the volume has fallen to at least 1/5 from the 50-period moving average of the volume. You have the choice to alter this period to one of your choosing by changing the number used as "Low volume fraction”.
  Added Relative volume label in percent. If today's volume is twice as compared to the instrument’s average volume, then the relative volume label will show a "200%” value.
  The 50-period average volume is now visible on the price scale.
  Users can now change the colors of the various volume bars.
  Please also note that Pocket Pivot Volume (PPV) is an up-day volume which is greater than any down-day volume of the last 10 “trading” days (it was wrongly written as last 10 “down” days in the initial description).
  

19 sty 2023

Informacje o Wersji

- Bull Snort candles are now depicted by a purple background color & a dot (you can use both or one, or can turn them off if you don’t wish to use this). Bull Snort candles are a concept from Oliver Kell. For a bull snort, you need a candle with 3 times the volume of its 50 day average, along with the price closing in 35% of its highs, & above the previous close.
- Daily & fifty day turnover (in Crores) are now presented in a table along with the relative volume.
- The volume moving average length, as well the Relative volume length, can now be changed (from the default 50) to a number of your choice.

21 sty 2023

Informacje o Wersji

Minor update to show daily turnover value upto 2 decimal places.

26 sty 2023

Informacje o Wersji

Updated to show blank cells in the turnover table where the value is not yet populated. Earlier it used to display as NaN.

2 lut 2023

Informacje o Wersji

Updated the table to provide options for change its colors

26 mar 2023

Informacje o Wersji

Now includes labels for Highest Volume (HV) edge (popularised by Rai) which is used to gauge institutional accumulation & highest probabilities of the stock turning into a big winner.:
⦿ Highest Volume Ever (HVE)
⦿ Highest Volume in Over a Year (HVY)
⦿ Highest Volume in a quarter (HVQ)

Includes options to display either the latest HVs, or all the HVs.
Includes options to display verbose data or just the HV.
Bull Snort volumes are shown as an up-arrow (customisable) on the bottom of the volume bar.
Cleaned up some redundant code.

27 mar 2023

Informacje o Wersji

Updated the code to not display the volume % where the volume moving average has not yet been populated. e.g. in IPO stocks

27 mar 2023

Informacje o Wersji

Updated the script to label the IPO day & its volume separately.
Made the HVE calculation accurate by including the IPO day volume too.

28 mar 2023

Informacje o Wersji

- Updated to display the highest volume labels only on daily & above timeframes
- Removed a portion of code that made the script load slower

1 kwi 2023

Informacje o Wersji

Updated the script to calculate the highest volumes only for timeframes of daily or above.

6 kwi 2023

Informacje o Wersji

Changed the code for calculating the HVE (Highest Volume ever), as the study was not loading on some charts due to referencing too many candles. Now, as per the limitation of TradingView's lookback period, HVE is actually the highest volume in the past 10 years.
Changed the default to displaying only the latest Highest Volumes. Past values can be turned on by selecting the option for the same in the settings.

8 kwi 2023

Informacje o Wersji

Updated the code for calculating the HVE.

- Script is now working fine on very small timeframes (5minutes, 1 minute)
- Script labels now works fine on stocks with very long bar history
- HV labels work fine on stocks where the bar history is smaller than the lookback (e.g. Bharatwire)

20 maj 2023

Informacje o Wersji

Lowest volume in a quarter (LVQ) or in an year (LVY) is now indicated by an orange "Q" or "Y" label above the respective volume bars.

The table is updated with the following additions:
- Average dollar volume. This is the average volume multiplied by the average price of the stock. It be at least 50 times your desired quantity.
- Volume RR (run rate) or volume buzz is the percentage by which the latest volume is above or below its average volume.
- Up/Down volume ratio is the sum of the volume on up days divided by the sum of the volume on down days. U/D > 1 is bullish.
- There is now an option in the settings to display the Average dollar volume in millions (default is crores).

27 maj 2023

Informacje o Wersji

- Lowest volumes now also color the volume bars orange
- Latest lowest volumes are now only displayed when the bar state is confirmed
- Improved HVE code so as to not depend on lookback
- Removed redundant option for turnover volumes

10 wrz 2023

Informacje o Wersji

⦿ Option to change the table's location, size & layout (horizontal or vertical). You can choose to display either all the columns, or only the ones of your choice. Background color can be turned off.
⦿ Option to display Power volumes via background headlight. Power Volumes are volumes beyond a certain number (default is half million) where price moves a minimum of 5%.
⦿ Option to change pocket pivot length from 10 to either 5 or 20.
⦿ Lots of tooltips in the settings (& also on hover)
⦿ 1-click dark mode
⦿ Updated code to v5
⦿ Improved IPO volume colors for dark mode.

11 wrz 2023

Informacje o Wersji

Rolled back the separate lookback for the weekly Pocket pivot volumes. All timeframes to have the same lookback as earlier.

18 wrz 2023

Informacje o Wersji

• Fixed the code to let the table resize properly as per the settings
  
• Improved the table appearance
  
• Added option to not choose the colors as per previous close
  
• Made horizontal mode as the default
  

12 sty 2024

Informacje o Wersji

Updated the code to improve the calculation of Relative Volume

13 sty 2024

Informacje o Wersji

• Provides an option to display the Volume Buzz in place of the Relative Volume (Rvol).
  
• Provides an option to include the current day volume while calculating the volume average for Rvol.
  

30 cze 2024

Informacje o Wersji

• Improved visibility for Bull Snort volumes as a square below the bar.
  
• Improved visibility for the dark mode volume moving average color in the status line.
  
• Optional 'Paint bar' feature that changes the price bar colors to match the simple volume colors.
  

30 cze 2024

Informacje o Wersji

• The volume average used for calculating Bull Snorts can now be customised separately from the overall volume moving average.
  

22 gru 2024

Informacje o Wersji

• Completely re-written for Pine editor's new v6
  
• Use the new Pine Screener to scan for Pocket pivot volumes, HVE, HVY, HVQ, dry volumes & high RVol.
  
• The turnover (AvgVol) calculation can now be customised for the period (10, 20, 50) as well as method (SMA, VWAP).
  
• IPO turnover is available using the number of days since listing (till the moving average gets populated)
  
• Option to display RVol in TradingView style (e.g. 1.5 in place of 150%)
  
• Simplified Table Settings
  

23 gru 2024

Informacje o Wersji

• Fix: Bugfix for runtime error while using bar replay
  
• New: The table cell background colors now have custom thresholds.
  

16 lut

Informacje o Wersji

🐣 New

⦿ 1-minute Liquidity (1mL): The closing price for a stock multiplied by its average volume on 1-minute timeframe gives us the 1-minute turnover or 1mL (1-minute liquidity). This is one of the most accurate estimators for judging the liquidity of the stock.
⦿ Projected Volume & Projected RVol: Project the final volume for the current day based on volume per second so far. Display the projected relative volume (Projected Volume / Average Volume) as a multiplier on the table.
⦿ Color customisation: Change the colors of HVE/HVY/HVQ volume bars. Change the colors of the power bars, & the IPO day bar.

🦅 Improved

⦿ Simple volume pine scanner improved. Now you can scan for liquid stocks & custom Rvol values via the Pine Screener.
⦿ Paint bar functionality improved. Now you can specifically choose which volume bars would you like to see painted on the price candles/bars. Option for preserving default up/down colors.
⦿ Highest volume labels improved. Both highest volume percentage & formatted volume can be turned on or off. If both are turned off, then the label will be, say, HVE. If both are turned on, the label will be, say, HVE 9.52M (1285%) if only highest volume percentage is turned on, the label will be, say, HVE 1285% If only formatted volume is turned on, the label will be, say, HVE 9.52M.

🐞 Fixed

⦿ IPO label. The first day volume is now labelled as IPO instead of the previous HVE.
⦿ Better handling of IPO stocks: Even IPO stocks will have the usual simple volume colors, & volume average values in status bar & price scale, & Rvol values in the table. If there aren’t enough bars (for example, 20 bars when lookback for calculating the volume moving average is 50), the volume moving average is calculated using the available bars. Similarly for Rvol.
⦿ Option to turn-off Bull Snorts: Earlier the toggle to turn off bull snorts was missing.

17 lut

Informacje o Wersji

🐣New:
Projected vol bar was not showing
Disabling all the options in table toggles removed out volume bars as well.
Power volumes to have different colors for up & down days. Optional to hide down day power volumes.

🐞Fixed:
Very low volume bars were not filling the volume pane
Bull snort scan for Pine screeneer
Avg₹Volume units selection now a dropdown
Projected RVol displayed as 0.0x now

23 lut

Informacje o Wersji

🐞 Fixed

⦿ Added a toggle to let the user choose whether the custom colors for HVE/HVY/HVQ are applied only on up days, or even on down days. If enabled (true by default) and the current bar is a down day, the bar will be colored with the default color instead of the custom one.

⦿ Lookback periods for Relative Volume & Up/Down Volume are now user-configurable instead of hardcoded dropdown options.

⦿ Fixed a bug in projected volume. Now even if the projected volume bar is hidden, the projected RVol value (used in the table) stays consistent.

24 lut

Informacje o Wersji

Fixed the default color not getting changed.
Fixed the HVE/HVY/HVQ colors not getting reflected in the paint bars.

24 lut

Informacje o Wersji

⦿ The custom colors for "highest volumes only on up days" are now applied to the IPO day volume (& its paint bar color) also.