OPEN-SOURCE SCRIPT
Updated Volume Average [UkutaLabs]
█ OVERVIEW
Volume Average is a simple yet powerful indicator designed to help traders quickly understand how current trading volume compares to its historical norm.
By plotting an average volume line directly on the volume chart, this indicator makes it easy to identify periods of unusually high or low participation, which often precede or confirm meaningful price movements.
Rather than focusing on raw volume alone, Volume Average provides essential context—helping traders distinguish between routine market activity and moments when volume truly matters.
█ HOW IT WORKS
The indicator calculates a moving average of volume over a user-defined period and displays it alongside standard volume bars.
█ PRACTICAL USE CASES
█ SETTINGS
█ SUMMARY
Volume Average is a clean, no-noise tool that helps traders focus on what matters most: when volume is truly significant. It pairs well with price action, support and resistance, and trend-based strategies.
Volume Average is a simple yet powerful indicator designed to help traders quickly understand how current trading volume compares to its historical norm.
By plotting an average volume line directly on the volume chart, this indicator makes it easy to identify periods of unusually high or low participation, which often precede or confirm meaningful price movements.
Rather than focusing on raw volume alone, Volume Average provides essential context—helping traders distinguish between routine market activity and moments when volume truly matters.
█ HOW IT WORKS
The indicator calculates a moving average of volume over a user-defined period and displays it alongside standard volume bars.
- Volume above the average suggests increased market interest
- Volume below the average indicates reduced participation
- Sustained deviations from the average can highlight accumulation, distribution, or breakout conditions
█ PRACTICAL USE CASES
- Confirming breakouts and breakdowns
- Identifying high-participation trend moves
- Spotting low-volume consolidations
- Filtering false price moves caused by weak volume
█ SETTINGS
- Adjustable volume average length
- Works on all markets and timeframes
- Compatible with any trading style (scalping, day trading, swing trading)
█ SUMMARY
Volume Average is a clean, no-noise tool that helps traders focus on what matters most: when volume is truly significant. It pairs well with price action, support and resistance, and trend-based strategies.
Release Notes
Added and 'Alert' option for above average volume bars.Release Notes
Just cleaned up some code and added a header to the script.Release Notes
The previous change didn't seem to save.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.