Price-Volume Strength Meter (Color Zones)

The Price-Volume Strength Meter is a custom-built tool designed to help traders assess market strength by analyzing both price action and volume behavior. It generates a smoothed strength signal and color-coded visualization for quick decision-making.

🔍 Key Features:
✅ Dual Momentum Analysis – Evaluates price and volume movements to identify strong or weak trends.

🎨 Color Zones –

🟢 Green: Bullish strength

🔴 Red: Bearish strength

🟡 Yellow: Sideways or indecisive zone

🧠 Smoothed Output – Uses internal smoothing to reduce noise and provide a cleaner trend view.

📊 Strength Range:

+100: Strong Bullish

+50: Weak Bullish

0: Neutral

-50: Weak Bearish

-100: Strong Bearish

This indicator can be used as a market strength confirmation tool for trend-following strategies or to filter out sideways/no-trade zones. Ideal for intraday to swing trading setups.