In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
//@version=2 // Plots volume the same as the built-in indicator. // However, this indicator colors the column according to its // change relative to the previous column. // In other words, this indicator displays a green column on // increased volume and a red bar on decreased volume. study("Volume Spikes") barColor = if (change(volume) < 0) red else green plot(volume, color=barColor, style=columns, title="Volume")