OPEN-SOURCE SCRIPT
Price x Volume - Highs with Step Connection + DryUp
# Price x Volume — Qullamaggie Dry-Up Edition (PxV High+DryUp)
## Overview
This indicator tracks **Price × Volume (trading value)** instead of raw volume, giving you a true picture of how much money is flowing into a stock. Built on top of that, it detects **Qullamaggie-style volume dry-up zones** — the quiet consolidation periods that often precede explosive breakouts.
If you follow momentum breakout strategies inspired by Kristjan Qullamaggie, this tool was built for you.
---
## 🔍 What It Does
### 1. Price × Volume (PxV) Bars
- Plots trading value (Close × Volume) as colored columns — **green** for up candles, **red** for down candles.
- A **20-day SMA** (yellow line) provides a smoothed baseline of average trading activity.
### 2. All-Time High Step Connection
- Tracks all-time PxV highs and draws a **step-line connection** between them — making it instantly clear when a stock is printing record-level trading activity.
- Each new high is connected with a horizontal → vertical → horizontal "staircase" pattern for clean visual reference.
### 3. Qullamaggie Volume Dry-Up Detection
The core feature. The indicator identifies when trading value dries up after a significant price move — a classic precursor to the next leg up.
**How it works:**
- Calculates the **highest PxV within the last 40 bars** as the benchmark.
- 🟣 **Normal Dry-Up** (purple background): Current PxV drops below **50%** of the 40-bar peak for 3+ consecutive bars.
- 🔵 **Extreme Dry-Up** (blue background): Current PxV drops below **30%** of the 40-bar peak — signaling a deeply quiet, coiled setup.
- Both require a **prior price run-up of 20%+ within 50 bars** — ensuring you're only watching for dry-ups that matter (after momentum, not during dead sideways action).
### 4. Breakout Detection (BO!)
- After a qualified dry-up, if PxV surges above **1.5× the 20-day SMA** on a green candle within 10 bars — a **"BO!" marker** appears.
- This flags the exact moment money floods back in — a potential entry signal.
### 5. 30-Bar Peak Reference Lines
- An **orange vertical line** marks the highest PxV bar in the last 30 bars.
- An **orange horizontal line** extends from that peak at 20% level — a quick visual gauge of how suppressed current activity is relative to the recent peak.
### 6. Real-Time Info Table
A compact table in the top-right corner displays:
| Field | Description |
|-------|-------------|
| PxV / 40-Bar Max | Current trading value as % of recent peak |
| PxV / MA Ratio | Current value vs. moving average |
| Consecutive Dry Bars | How many bars the dry-up has lasted |
| Prior Run-Up % | Price appreciation in the lookback period |
| Dry-Up Status | Normal 🟣, Extreme 🔵, or None |
| BO Ready | Whether a breakout watch is active ⚡ |
---
## ⚙️ Fully Customizable Settings
Every parameter is adjustable via the Settings panel:
| Setting | Default | Description |
|---------|---------|-------------|
| Dry-Up Lookback | 40 bars | Period for calculating peak PxV |
| Normal Threshold | 50% | PxV below this % of peak = dry-up |
| Extreme Threshold | 30% | PxV below this % of peak = extreme dry-up |
| Min Consecutive Bars | 3 | Required consecutive dry bars |
| Prior Run-Up Period | 50 bars | Lookback for price appreciation check |
| Min Run-Up % | 20% | Minimum price move to qualify dry-up |
| Breakout Multiplier | 1.5× | PxV surge above MA to trigger BO signal |
---
## 💡 How to Use
### For Swing Traders (Qullamaggie-style)
1. **Scan for purple/blue zones** on daily charts — these are your watchlist candidates.
2. Wait for the **"BO!" signal** or manually confirm a breakout with price action.
3. Use the **info table** to monitor dry-up depth in real time.
### For Day Traders
- Shorten the dry-up lookback (e.g., 10–20 bars) and min bars (e.g., 2) on intraday timeframes.
- Use breakout signals for momentum entries.
### For Position Traders
- Increase the prior run-up period (e.g., 100 bars) and run-up % (e.g., 30–50%) to filter for only the strongest setups.
---
## 🧠 Why Price × Volume Instead of Raw Volume?
A $10 stock trading 1M shares is NOT the same as a $500 stock trading 1M shares. Raw volume ignores price — **PxV captures the actual dollar flow**, making it far more meaningful for:
- Comparing activity across different price levels of the same stock
- Detecting genuine institutional participation
- Identifying true dry-ups (not just low share count days on a stock that gapped up 200%)
---
## 📌 Recommended For
- **Momentum breakout traders** following Qullamaggie / Mark Minervini methodology
- **Swing traders** looking for low-risk consolidation entries
- Anyone who wants a **smarter volume indicator** that tracks real money flow
---
## ⚠️ Disclaimer
This indicator is a technical analysis tool, not financial advice. Always combine with price action analysis, proper risk management, and your own due diligence. Past patterns do not guarantee future results.
---
**If you find this useful, please leave a like and follow for future updates!**
## Overview
This indicator tracks **Price × Volume (trading value)** instead of raw volume, giving you a true picture of how much money is flowing into a stock. Built on top of that, it detects **Qullamaggie-style volume dry-up zones** — the quiet consolidation periods that often precede explosive breakouts.
If you follow momentum breakout strategies inspired by Kristjan Qullamaggie, this tool was built for you.
---
## 🔍 What It Does
### 1. Price × Volume (PxV) Bars
- Plots trading value (Close × Volume) as colored columns — **green** for up candles, **red** for down candles.
- A **20-day SMA** (yellow line) provides a smoothed baseline of average trading activity.
### 2. All-Time High Step Connection
- Tracks all-time PxV highs and draws a **step-line connection** between them — making it instantly clear when a stock is printing record-level trading activity.
- Each new high is connected with a horizontal → vertical → horizontal "staircase" pattern for clean visual reference.
### 3. Qullamaggie Volume Dry-Up Detection
The core feature. The indicator identifies when trading value dries up after a significant price move — a classic precursor to the next leg up.
**How it works:**
- Calculates the **highest PxV within the last 40 bars** as the benchmark.
- 🟣 **Normal Dry-Up** (purple background): Current PxV drops below **50%** of the 40-bar peak for 3+ consecutive bars.
- 🔵 **Extreme Dry-Up** (blue background): Current PxV drops below **30%** of the 40-bar peak — signaling a deeply quiet, coiled setup.
- Both require a **prior price run-up of 20%+ within 50 bars** — ensuring you're only watching for dry-ups that matter (after momentum, not during dead sideways action).
### 4. Breakout Detection (BO!)
- After a qualified dry-up, if PxV surges above **1.5× the 20-day SMA** on a green candle within 10 bars — a **"BO!" marker** appears.
- This flags the exact moment money floods back in — a potential entry signal.
### 5. 30-Bar Peak Reference Lines
- An **orange vertical line** marks the highest PxV bar in the last 30 bars.
- An **orange horizontal line** extends from that peak at 20% level — a quick visual gauge of how suppressed current activity is relative to the recent peak.
### 6. Real-Time Info Table
A compact table in the top-right corner displays:
| Field | Description |
|-------|-------------|
| PxV / 40-Bar Max | Current trading value as % of recent peak |
| PxV / MA Ratio | Current value vs. moving average |
| Consecutive Dry Bars | How many bars the dry-up has lasted |
| Prior Run-Up % | Price appreciation in the lookback period |
| Dry-Up Status | Normal 🟣, Extreme 🔵, or None |
| BO Ready | Whether a breakout watch is active ⚡ |
---
## ⚙️ Fully Customizable Settings
Every parameter is adjustable via the Settings panel:
| Setting | Default | Description |
|---------|---------|-------------|
| Dry-Up Lookback | 40 bars | Period for calculating peak PxV |
| Normal Threshold | 50% | PxV below this % of peak = dry-up |
| Extreme Threshold | 30% | PxV below this % of peak = extreme dry-up |
| Min Consecutive Bars | 3 | Required consecutive dry bars |
| Prior Run-Up Period | 50 bars | Lookback for price appreciation check |
| Min Run-Up % | 20% | Minimum price move to qualify dry-up |
| Breakout Multiplier | 1.5× | PxV surge above MA to trigger BO signal |
---
## 💡 How to Use
### For Swing Traders (Qullamaggie-style)
1. **Scan for purple/blue zones** on daily charts — these are your watchlist candidates.
2. Wait for the **"BO!" signal** or manually confirm a breakout with price action.
3. Use the **info table** to monitor dry-up depth in real time.
### For Day Traders
- Shorten the dry-up lookback (e.g., 10–20 bars) and min bars (e.g., 2) on intraday timeframes.
- Use breakout signals for momentum entries.
### For Position Traders
- Increase the prior run-up period (e.g., 100 bars) and run-up % (e.g., 30–50%) to filter for only the strongest setups.
---
## 🧠 Why Price × Volume Instead of Raw Volume?
A $10 stock trading 1M shares is NOT the same as a $500 stock trading 1M shares. Raw volume ignores price — **PxV captures the actual dollar flow**, making it far more meaningful for:
- Comparing activity across different price levels of the same stock
- Detecting genuine institutional participation
- Identifying true dry-ups (not just low share count days on a stock that gapped up 200%)
---
## 📌 Recommended For
- **Momentum breakout traders** following Qullamaggie / Mark Minervini methodology
- **Swing traders** looking for low-risk consolidation entries
- Anyone who wants a **smarter volume indicator** that tracks real money flow
---
## ⚠️ Disclaimer
This indicator is a technical analysis tool, not financial advice. Always combine with price action analysis, proper risk management, and your own due diligence. Past patterns do not guarantee future results.
---
**If you find this useful, please leave a like and follow for future updates!**
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Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.