Volume Z-Score [T2][T69]

🧠 Overview
This indicator calculates the Z-Score of volume to identify unusual trading activity, particularly those associated with whale-like behavior. It helps traders detect aggressive accumulation, distribution, or breakout setups based on volume anomalies relative to historical norms.

🔍 Features

• Z-Score plot of volume using a configurable lookback.
  
• Dynamic bar coloring based on Z-Score magnitude.
  
• 🐋 Small Whale marker appears when Z-Score exceeds +3.
  
• Supports manual adjustment of sensitivity through lookback bars input.
  

🧪 Risk Level & Behavior Reference
🔥 Aggressive(10–14) - Fast signal, high sensitivity to volume spikes. Suitable for scalping or altcoin breakouts.
⚖️ Moderate(20–30) - Balanced filtering of noise vs real movement. Recommended for most swing traders.
🛡️ Conservative(40–60+) - Filters out noise. Reacts only to sustained large volume anomalies. Ideal for longer timeframes or large-cap coins.

⚙️ How to Use (NON DIRECTIONAL INDICATOR)

1. Use the Z-Score to gauge the strength of volume relative to recent history.
   
2. When Z-Score > 1.5 → Considered above-average activity.
   
3. When Z-Score > 3 → Marks a 🐋 Small Whale Move, potential for high-volatility follow-through.
   
4. Combine with price action, support/resistance, or OBV for confirmation.
   

⚠️ Limitations

• This is a statistical signal, not directional.
  
• Works best when paired with context: supply zones, trend bias, or large candle patterns.
  

🧠 Advanced Tips

• Use multiple risk settings (e.g., 14 vs 50) on stacked indicators to track retail vs whale behavior separately.
  
• Works well with low-float tokens and high-leverage exchange pairs like BTC/USDT (Bybit).
  

📝 Disclaimer

• This script is provided for educational and analytical purposes only. Do your own research and manage your risk responsibly.