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Balihuntul Normalized Absolute Volume by RRB

Balihuntul Normalized Absolute Volume by RagingRocketBull 2018
Version 1.0
This indicator shows absolute and/or normalized volume for an asset, allows for more accurate volume based comparisons (like a log scale for volume).
Volume is measured in coins traded, not USD traded, so direct comparisons of different price moves may not be accurate.
Professional traders usually compare absolute or normalized volumes of trend moves/spikes/dips/capitulation events instead.
When the USD price of an asset is lower you can trade more coins but capitalization won't be as significant as when there are less coins for a higher price.
Similarly, you can normalize volume using:
- price/price ma (to get a bit of a price-weighted volume) or
- volume ma to compare it with its average assuming the total volume is a percentage above or below the MA (100% or 1).
- use alpha multiplier to add/lose a few zeroes if necessary
Features:
- Use Absolute Price Value (Price * Volume) of an asset instead of Coins Traded (Volume) to compare capitalization
- Normalize volume using Price / Price MA / Volume MA
- Supports any existing type of MA: SMA, EMA, WMA, HMA etc
- Oscillator mode with negative axis
- Highlight high volume spikes above MA or hide low volume bars below MA
- Change color based on prev Close or Volume bars
- Change Volume MA color based on a number of last rising/falling bars
- Display volume as 1000s, mlns, or blns using alpha multiplier
Notes:
1. uses plot* and custom hma functions
2. swma has a fixed length = 4, alma and linreg have additional offset and smoothing params
Feel free to use. Good Luck!
Version 1.0
This indicator shows absolute and/or normalized volume for an asset, allows for more accurate volume based comparisons (like a log scale for volume).
Volume is measured in coins traded, not USD traded, so direct comparisons of different price moves may not be accurate.
Professional traders usually compare absolute or normalized volumes of trend moves/spikes/dips/capitulation events instead.
When the USD price of an asset is lower you can trade more coins but capitalization won't be as significant as when there are less coins for a higher price.
Similarly, you can normalize volume using:
- price/price ma (to get a bit of a price-weighted volume) or
- volume ma to compare it with its average assuming the total volume is a percentage above or below the MA (100% or 1).
- use alpha multiplier to add/lose a few zeroes if necessary
Features:
- Use Absolute Price Value (Price * Volume) of an asset instead of Coins Traded (Volume) to compare capitalization
- Normalize volume using Price / Price MA / Volume MA
- Supports any existing type of MA: SMA, EMA, WMA, HMA etc
- Oscillator mode with negative axis
- Highlight high volume spikes above MA or hide low volume bars below MA
- Change color based on prev Close or Volume bars
- Change Volume MA color based on a number of last rising/falling bars
- Display volume as 1000s, mlns, or blns using alpha multiplier
Notes:
1. uses plot* and custom hma functions
2. swma has a fixed length = 4, alma and linreg have additional offset and smoothing params
Feel free to use. Good Luck!
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。