OPEN-SOURCE SCRIPT
Custom Volume Indicator
The Custom Volume Indicator is a TradingView Pine Script indicator that visualizes market volume using a color-coded histogram. It helps traders analyze volume trends and confirm price movements.
Features:
Volume Histogram: Displays volume bars in red or green.
Green bars: Volume has increased compared to the previous bar.
Red bars: Volume has decreased compared to the previous bar.
Volume Moving Average (SMA 20): A 20-period SMA is overlaid on the volume bars, providing a smoother trend indication.
This indicator is useful for identifying volume spikes, trend confirmations, and potential reversals.
Features:
Volume Histogram: Displays volume bars in red or green.
Green bars: Volume has increased compared to the previous bar.
Red bars: Volume has decreased compared to the previous bar.
Volume Moving Average (SMA 20): A 20-period SMA is overlaid on the volume bars, providing a smoother trend indication.
This indicator is useful for identifying volume spikes, trend confirmations, and potential reversals.
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