Vol UP/DOWN BANDS V.1.1

12시간 전

Vol UP/DOWN BANDS V.1.1
Indicator Type: Volume-Based Bands and Price Moving Average Overlay

This invite-only indicator offers traders a valuable tool for identifying key shifts in market momentum through the interaction of volume dynamics and price action. The indicator plots upper and lower volume-based bands alongside a customizable price moving average (MA) to help reveal potential turning points in the market.

Key Features:

Volume-Based Upper and Lower Bands: These bands, derived from proprietary calculations of volume delta and price action, help distinguish between periods dominated by buyers or sellers. The green upper band highlights times when buyers are in control, while the red lower band indicates selling pressure is dominant.
Customizable Price Moving Average: The price MA (blue line) smooths out short-term price fluctuations, providing a clear reference point around which the volume bands fluctuate. This helps identify key shifts in market trends.
Flexible Timeframes: Users can customize the timeframe for volume calculations, giving the indicator greater flexibility across different markets and time horizons.
Smoothed Bands: The upper and lower bands are smoothed to reduce noise, allowing traders to focus on significant volume-driven price movements.
Chart Example: The chart above demonstrates how the upper band (green line) signals strong buying momentum, while the lower band (red line) indicates periods of heavy selling pressure. The price MA (blue line) serves as a central benchmark, helping to highlight significant trends in price action relative to volume.

Disclaimer: This script is for educational and informational purposes only and is not intended as financial or investment advice.