📊 aiTrendview.com Volume Pressure Gauge + Volume %

📊 Volume Pressure Gauge + Volume % Indicator Guide
This Pine Script TradingView indicator visualizes both volume pressure (the balance of buying vs. selling activity) and the current day's trading volume compared to a moving average. It's designed to give traders an at-a-glance understanding of whether buyers or sellers are dominating and whether today's volume is significant relative to history.
Key Segments of the Indicator
1. Inputs Section
• SMA Length for Volume Avg: Lets you set the period (default 20) for the Simple Moving Average (SMA) used to calculate average volume.
• Show Volume Pie / Gauge: Toggle the visible display of the volume gauge table.
• Table Position (X & Y): Customize where the indicator’s table appears on your chart for maximum visibility.
Advantage:
Personalization ensures the tool is flexible for different trading styles and chart setups.
2. Volume Data Calculations
• Daily Volume (volToday): Pulls the most recent daily trading volume of the security.
• X-day Average Volume (volAvg): Averages the daily volume over your chosen period (commonly 20 days).
• Volume Percentage (volPct): Shows today’s volume as a percent of the recent X-day average.
Advantage:
Spot unusual surges or drops in trading activity immediately, which can signal the start of strong trends or reversals.
3. Volume Pressure Calculation
• Buy Pressure: Volume allocated to upward price movement.
• Sell Pressure: Volume allocated to downward price movement.
• Percent Buy/Sell: Converts pressure values into easy-to-read percentages.
Advantage:
Quickly identifies who controls the current session (bulls or bears), even before price confirms direction.
4. Visual Gauge with Pseudo-Bars
• Progress Bars: Uses block characters to visually represent the proportion of buying or selling pressure out of 20 units (maximum).
• Sell Bar (red): Number of red blocks = % Sell Pressure.
• Buy Bar (green): Number of green blocks = % Buy Pressure.
Advantage:
Visual feedback is instantly graspable— a longer green bar means buyers dominate, red means sellers dominate, saving time on analysis.
5. Table Display with Progress
• Header: “📊 Volume Pressure”.
• Rows:
o Sell Pressure % and visual bar.
o Buy Pressure % and visual bar.
o Volume % vs. average.
Advantage:
Summarizes truly actionable data in one compressed table—no need to scan multiple chart overlays or indicators.
How This Indicator Helps Traders
• Spot Momentum Shifts: Volume pressure pivots can indicate trend reversals before price.
• Validate Breakouts: Unusually high volume with strong buy or sell pressure confirms breakout credibility.
• Avoid False Moves: Low volume or mixed pressure warns of unreliable price swings.
• Market Context: Know if a day's trading is typical, abnormally active, or sluggish.
Step-by-Step Instructions for New Traders
1. Add to Chart
• Open your TradingView chart.
• Paste or select the indicator code.
• Choose your preferred SMA length (20 is standard for most stocks).
2. Configure Display
• Decide where you want the gauge (e.g., bottom right).
• Ensure “Show Volume Pie / Gauge” is enabled.
3. Interpret the Data
• Sell/Buy Pressure: More red blocks = sellers leading; more green blocks = buyers leading.
• Volume %:
o If above 100%, today's volume exceeds the recent average (trend may be stronger).
o Green % → Volume surge; Orange % → Normal/subdued volume.
4. Make Trading Decisions
• Potential Buy: High buy pressure + above-average volume.
• Potential Sell/Short: High sell pressure + above-average volume.
• Wait or Avoid: Low volume, no clear pressure; consider sitting out until conviction improves.
5. Combine with Other Tools
• This is a volume-based confirmation tool—use with price action, support/resistance, or trend indicators for best results.
Practical Example
Row What It Shows How to Use
Sell: 70% ████████ Sellers have 70% of pressure Look for short opportunities
Buy: 30% ███ Buyers have 30% of pressure Caution on long entries
Volume %: 120% Volume surge (120% of the average) Move may have conviction
Tips for Beginners
• Don’t trade exclusively on one indicator—combine signals for more reliable setups.
• Start with longer-term charts while learning (daily or 4h bars).
• Observe several examples to recognize how volume pressure patterns precede strong moves.
• Always use a stop loss—no indicator guarantees success.
This tool provides clear, actionable volume insight for new and experienced traders alike, making complex underlying behaviour much more accessible.