OPEN-SOURCE SCRIPT
Volume Matrix Scanner
Volume Matrix Scanner - First Release
Volume Matrix Scanner is a beginner-friendly TradingView indicator that watches volume and price action across a group of stocks in one simple panel.
The underlying logic is derived from the Volume V6 indicator. Volume Matrix Scanner is recommended to be used together with Volume V6: use the Matrix to scan many stocks, then use Volume V6 to study one chart in more detail.
The script is designed to help newer traders understand whether a stock is showing signs of demand, quiet accumulation, dry pullbacks, or possible selling pressure. Instead of only showing raw numbers, the panel gives plain messages such as BUY, SNORT, ADD, PIVOT, TRIM, SELL, or Quiet.
Quoted from the Volume V6 logic, in simple terms:
Volume V6 is trying to answer one main question: is volume showing demand from buyers, supply from sellers, or nothing important yet?
It does this by combining several clues instead of trusting one volume bar alone. First, it creates a normal-volume baseline using average volume, usually over 50 bars. Then it compares today's volume against that normal level.
If volume is much higher than normal, the script asks whether price closed strong near the high, whether price rose compared with the previous bar, whether price is above short or longer moving averages, and whether buying pressure is stronger than selling pressure. If the answer is mostly yes, it treats the volume as demand or accumulation.
If volume is high but price closes weak, falls, or rejects higher prices, it treats that as supply or distribution.
Volume V6 also builds an accumulation score from -100 to +100. Positive points are added for Pocket Pivot Volume, Bull Snort volume, strong up bars closing near the high, dry pullbacks in a healthy trend, rising OBV, positive money flow, and price staying above key moving averages.
Negative points are added for heavy down-volume, upthrust selling, heavy churn where volume is huge but price does not make progress, falling OBV, negative money flow, and price weakness below key averages.
So the score is basically a weight-of-evidence reading.
What the messages mean:
- BUY means demand is confirmed and the stock may be under accumulation.
- SNORT means Bull Snort, which is unusually strong bullish volume.
- ADD means a quiet or dry pullback while the bigger trend still looks healthy.
- PIVOT means Pocket Pivot Volume, a clue that larger buyers may be active.
- TRIM means an early warning that supply may be coming in.
- SELL means distribution pressure may be present and capital should be defended.
- Quiet means there is no active setup at the moment.
The score runs from -100 to +100:
- Above +50 suggests strong accumulation.
- +30 to +49 suggests constructive demand.
- -15 to +29 suggests mixed or quiet action.
- -30 to -49 suggests a supply warning.
- Below -50 suggests distribution or defensive action.
Users can add stocks of their own choice. The default list includes popular U.S. stocks, but each symbol input can be changed in the indicator settings. Open the settings, go to the Symbols sections, and replace any ticker with the stock you want to follow.
This indicator is meant to support learning and decision-making. It should not be used as financial advice or as a standalone buy or sell system. Always combine it with your own chart review, risk management, and research.
Authorship: drsamgeorge, made with AI assistance.
Volume Matrix Scanner is a beginner-friendly TradingView indicator that watches volume and price action across a group of stocks in one simple panel.
The underlying logic is derived from the Volume V6 indicator. Volume Matrix Scanner is recommended to be used together with Volume V6: use the Matrix to scan many stocks, then use Volume V6 to study one chart in more detail.
The script is designed to help newer traders understand whether a stock is showing signs of demand, quiet accumulation, dry pullbacks, or possible selling pressure. Instead of only showing raw numbers, the panel gives plain messages such as BUY, SNORT, ADD, PIVOT, TRIM, SELL, or Quiet.
Quoted from the Volume V6 logic, in simple terms:
Volume V6 is trying to answer one main question: is volume showing demand from buyers, supply from sellers, or nothing important yet?
It does this by combining several clues instead of trusting one volume bar alone. First, it creates a normal-volume baseline using average volume, usually over 50 bars. Then it compares today's volume against that normal level.
If volume is much higher than normal, the script asks whether price closed strong near the high, whether price rose compared with the previous bar, whether price is above short or longer moving averages, and whether buying pressure is stronger than selling pressure. If the answer is mostly yes, it treats the volume as demand or accumulation.
If volume is high but price closes weak, falls, or rejects higher prices, it treats that as supply or distribution.
Volume V6 also builds an accumulation score from -100 to +100. Positive points are added for Pocket Pivot Volume, Bull Snort volume, strong up bars closing near the high, dry pullbacks in a healthy trend, rising OBV, positive money flow, and price staying above key moving averages.
Negative points are added for heavy down-volume, upthrust selling, heavy churn where volume is huge but price does not make progress, falling OBV, negative money flow, and price weakness below key averages.
So the score is basically a weight-of-evidence reading.
What the messages mean:
- BUY means demand is confirmed and the stock may be under accumulation.
- SNORT means Bull Snort, which is unusually strong bullish volume.
- ADD means a quiet or dry pullback while the bigger trend still looks healthy.
- PIVOT means Pocket Pivot Volume, a clue that larger buyers may be active.
- TRIM means an early warning that supply may be coming in.
- SELL means distribution pressure may be present and capital should be defended.
- Quiet means there is no active setup at the moment.
The score runs from -100 to +100:
- Above +50 suggests strong accumulation.
- +30 to +49 suggests constructive demand.
- -15 to +29 suggests mixed or quiet action.
- -30 to -49 suggests a supply warning.
- Below -50 suggests distribution or defensive action.
Users can add stocks of their own choice. The default list includes popular U.S. stocks, but each symbol input can be changed in the indicator settings. Open the settings, go to the Symbols sections, and replace any ticker with the stock you want to follow.
This indicator is meant to support learning and decision-making. It should not be used as financial advice or as a standalone buy or sell system. Always combine it with your own chart review, risk management, and research.
Authorship: drsamgeorge, made with AI assistance.
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.
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.