Volume MA Breakout T3 [Teyo69]

🧭 Overview
Volume MA Breakout T3 [Teyo69] highlights volume bars that exceed a dynamic moving average threshold. It helps traders visually identify volume breakouts—periods of significant buying or selling pressure—based on user-selected MA methods (SMA, EMA, DEMA).

🔍 Features

• Volume Highlighting: Green bars indicate volume breakout above the MA; red bars otherwise.
  
• Custom MA Options: Choose between SMA, EMA, or Double EMA for volume smoothing.
  
• Dynamic Threshold: The moving average line adjusts based on user-defined length and method.
  

⚙️ Configuration

• Length: Number of bars used for the moving average calculation (default: 14).
  
• Method: Type of moving average to use:
  
• "SMA" - Simple Moving Average
  
• "EMA" - Exponential Moving Average
  
• "Double EMA" - Double Exponential Moving Average
  

📈 How to Use

1. Apply to any chart to visualize volume behavior relative to its MA.
   
2. Look for green bars: These suggest volume is breaking out above its recent average—potential signal of momentum.
   
3. Red bars indicate normal/subdued volume.
   

⚠️ Limitations

• Does not provide directional bias—use with price action or trend confirmation tools.
  
• Works best with additional context (e.g., support/resistance, candle formations).
  

🧠 Advanced Tips

• Use shorter MAs (e.g., 5–10) in volatile markets for more responsive signals.
  
• Combine with OBV, MFI, or accumulation indicators for confluence.
  

📌 Notes

• This is a volume-based filter, not a signal generator.
  
• Useful for breakout traders and volume profile enthusiasts.
  

📜 Disclaimer
This script is for educational purposes only. Always test in a simulated environment before live trading. Not financial advice.