OPEN-SOURCE SCRIPT
Super Volume[SV]
Super Volume [SV]
This indicator combines classic volume bars with a decision-making mechanism. It doesn't just measure whether volume is high; it uses the following formula to determine which direction this high volume is dominating the market (Buyer vs. Seller):
$
V
VOLUME
> SMA(Volume, 20)$$
If the volume exceeds this threshold, the system analyzes the closing value of the candle. If it does not, the market is considered to be in "sleep mode."
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Color Codes and Meanings
The visual language of the indicator is designed to let you analyze the situation in seconds the moment you look at the screen. Here are the psychological and technical equivalents of each color:
🟢 Green (High Volume Buyer)
• Condition: Volume is above the 20-period average AND the closing price is higher than the opening price.
• Meaning: Major market players (institutionals) have stepped in on the buying side.
• Interpretation: This is an "Aggressive Buying" signal. If a resistance level is being broken and this color appears, the probability of a false breakout is low.
🔴 Red (High Volume Seller)
• Condition: Volume is above the 20-period average AND the closing price is lower than the opening price.
• Meaning: Selling pressure has risen significantly above the average. Those holding assets may be exiting quickly.
• Interpretation: This is a "Panic or Distribution" signal. Seeing this color at support levels indicates a high probability that the support will break.
🟠 Orange (High Volume Neutral/Indecisive)
• Condition: Volume is above the 20-period average BUT the price closed near its opening (Doji-like structures).
• Meaning: There is a massive battle between buyers and sellers, but no winner has emerged yet.
• Interpretation: This usually points to a "Trend Reversal" or an "Accumulation" zone. The first green or red candle following an orange column typically determines the new direction.
⚪ Gray (Normal/Low Volume)
• Condition: Volume is below the 20-period average.
• Meaning: Market participants are reluctant. "Big money" is not currently in this asset.
• Interpretation: This is the "Wait and See" zone. Trades made during gray columns often coincide with "choppy" markets, increasing the risk of getting stopped out.
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Applied Trading Strategies
1. Breakout Confirmation
If the volume bar turns Green while a stock or coin is breaking above a horizontal channel, it is a "genuine breakout." If the price is rising but the volume remains Gray, this upward movement might be a "bull trap."
2. Top and Bottom Analysis
• Climactic Selling: A sudden, massive Red column during a price drop sometimes indicates that sellers are exhausted (the final wave of selling). Subsequent low-volume gray candles are signs of a bottom formation.
• Buying Frenzy: An excessively large Green column at a very high price point may whisper that the last buyers have entered due to "FOMO" (fear of missing out) and a correction is imminent.
3. Average Line (Yellow Line)
The volMA (Yellow line) in the code represents the "energy level" of the market. How far the columns rise above this line determines the intensity of the movement. Any movement staying below this line can be considered "noise."
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Technical Note
There is a dynamic Label on the right side of the indicator. This label updates itself based on the bar index and provides the current status in text:
• "HIGH VOLUME: BUYER"
• "HIGH VOLUME: SELLER"
• "NORMAL VOLUME"
This allows you to focus on the system's precise diagnosis rather than just the colors.
GOOD LUCK!!!
Author:Rmzn4406
This indicator combines classic volume bars with a decision-making mechanism. It doesn't just measure whether volume is high; it uses the following formula to determine which direction this high volume is dominating the market (Buyer vs. Seller):
$
V
VOLUME
> SMA(Volume, 20)$$
If the volume exceeds this threshold, the system analyzes the closing value of the candle. If it does not, the market is considered to be in "sleep mode."
________________________________________
Color Codes and Meanings
The visual language of the indicator is designed to let you analyze the situation in seconds the moment you look at the screen. Here are the psychological and technical equivalents of each color:
🟢 Green (High Volume Buyer)
• Condition: Volume is above the 20-period average AND the closing price is higher than the opening price.
• Meaning: Major market players (institutionals) have stepped in on the buying side.
• Interpretation: This is an "Aggressive Buying" signal. If a resistance level is being broken and this color appears, the probability of a false breakout is low.
🔴 Red (High Volume Seller)
• Condition: Volume is above the 20-period average AND the closing price is lower than the opening price.
• Meaning: Selling pressure has risen significantly above the average. Those holding assets may be exiting quickly.
• Interpretation: This is a "Panic or Distribution" signal. Seeing this color at support levels indicates a high probability that the support will break.
🟠 Orange (High Volume Neutral/Indecisive)
• Condition: Volume is above the 20-period average BUT the price closed near its opening (Doji-like structures).
• Meaning: There is a massive battle between buyers and sellers, but no winner has emerged yet.
• Interpretation: This usually points to a "Trend Reversal" or an "Accumulation" zone. The first green or red candle following an orange column typically determines the new direction.
⚪ Gray (Normal/Low Volume)
• Condition: Volume is below the 20-period average.
• Meaning: Market participants are reluctant. "Big money" is not currently in this asset.
• Interpretation: This is the "Wait and See" zone. Trades made during gray columns often coincide with "choppy" markets, increasing the risk of getting stopped out.
________________________________________
Applied Trading Strategies
1. Breakout Confirmation
If the volume bar turns Green while a stock or coin is breaking above a horizontal channel, it is a "genuine breakout." If the price is rising but the volume remains Gray, this upward movement might be a "bull trap."
2. Top and Bottom Analysis
• Climactic Selling: A sudden, massive Red column during a price drop sometimes indicates that sellers are exhausted (the final wave of selling). Subsequent low-volume gray candles are signs of a bottom formation.
• Buying Frenzy: An excessively large Green column at a very high price point may whisper that the last buyers have entered due to "FOMO" (fear of missing out) and a correction is imminent.
3. Average Line (Yellow Line)
The volMA (Yellow line) in the code represents the "energy level" of the market. How far the columns rise above this line determines the intensity of the movement. Any movement staying below this line can be considered "noise."
________________________________________
Technical Note
There is a dynamic Label on the right side of the indicator. This label updates itself based on the bar index and provides the current status in text:
• "HIGH VOLUME: BUYER"
• "HIGH VOLUME: SELLER"
• "NORMAL VOLUME"
This allows you to focus on the system's precise diagnosis rather than just the colors.
GOOD LUCK!!!
Author:Rmzn4406
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.