OPEN-SOURCE SCRIPT

Volume Exhaustion [AlgoAlpha]

Zaktualizowano
Introducing the Volume Exhaustion by AlgoAlpha, is an innovative tool that aims to identify potential exhaustion or peaks in trading volume, which can be a key indicator for reversals or continuations in market trends 🔶.

Key Features:
* Signal Plotting: A special feature is the plotting of 'Release' signals, marked by orange diamonds, indicating points where the exhaustion index crosses under its previous value and is above a certain boundary. This could signify critical market points 🚨.
snapshot
snapshot

  • Calculation Length Customization: Users can adjust the calculation and Signal lengths to suit their trading style, allowing for flexibility in analysis over different time periods. ☝️
    len = input(50, "Calculation Length")
    len2 = input(8, "Signal Length")
  • Visual Appeal: The script offers customizable colors (col for the indicator and col1 for the background) enhancing the visual clarity and user experience 💡.
    col = input.color(color.white, "Indicator Color")
    col1 = input.color(color.gray, "Background Color")
  • Advanced Volume Processing: At its core, the script utilizes a combination of Hull Moving Average (HMA) and Exponential Moving Average (EMA) applied to the volume data. This sophisticated approach helps in smoothing out the volume data and reducing lag.
    sv = ta.hma(volume, len)
    ssv = ta.hma(sv, len)
  • Volume Exhaustion Detection: The script calculates the difference between the volume and its smoothed version, normalizing this value to create an exhaustion index (fff). Positive values of this index suggest potential volume exhaustion.
    f = sv-ssv
    ff = (f) / (ta.ema(ta.highest(f, len) - ta.lowest(f, len), len)) * 100
    fff = ff > 0 ? ff : 0
  • Boundary and Zero Line: The script includes a boundary line (boundary) and a zero line (zero), with the area between them filled for enhanced visual interpretation. This helps in assessing the relative position of the exhaustion index.

  • Customizable Background: The script colors the background of the chart for better readability and to distinguish the indicator’s area clearly.


Overall, Volume Exhaustion [AlgoAlpha] is designed for traders who focus on volume analysis. It provides a unique perspective on volume trends and potential exhaustion points, which can be crucial for making informed trading decisions. This script is a valuable addition for traders looking to enhance their trading experience with advanced volume analysis tools.
Informacje o Wersji
Removed a redundant input
Informacje o Wersji
Fixed a typo in the input names
algoalertalgoalphachartFundamental AnalysismeanreversionreversaltradingTechnical AnalysistrendfollowingVolatilityvolatiltyvolumeanalysisVolume

Skrypt open-source

W prawdziwym duchu TradingView autor tego skryptu opublikował go jako open source, aby inwestorzy mogli go zrozumieć i zweryfikować. Pozdrowienia dla autora! Możesz go używać bezpłatnie, ale ponowne użycie tego kodu w publikacji podlega Zasadom Regulaminu. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.

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