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.

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.

릴리즈 노트

Added and 'Alert' option for above average volume bars.

릴리즈 노트

Just cleaned up some code and added a header to the script.

릴리즈 노트

The previous change didn't seem to save.

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오픈 소스 스크립트

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