Volume Spike, Price Move >3% Spike with Vol & Gap Up Identifier

2023년 6월 19일

Title: Identifying Volume Spikes, Price Movements and Gap Ups: A TradingView Script


Introduction:[/I]
In the world of trading, identifying volume spikes and price movements can provide valuable insights into market trends and potential trading opportunities. In this article, we'll explore a TradingView script that helps traders visualize volume spikes, price up moves with volume spikes, and gap-up days on their charts.

Detecting Price Up Moves:
The script starts by calculating price up moves. It compares the current day's closing price with the previous day's closing price and checks if it has increased by 3% or more. This helps traders spot significant upward price movements.

Detecting Volume Spurts:
Next, the script focuses on detecting volume spikes, which are often associated with increased market activity and potential trading opportunities. It compares the current day's volume with the highest volume of the previous nine sessions. If the current volume exceeds all the volumes of the previous nine sessions, it is considered a volume spurt.

Example:

Let's consider a hypothetical scenario where we have the following volume data for a stock:

Day 1: 100,000
Day 2: 80,000
Day 3: 120,000
Day 4: 150,000
Day 5: 200,000
Day 6: 90,000
Day 7: 110,000
Day 8: 130,000
Day 9: 140,000
Day 10: 250,000 (current day)

To determine if there is a volume spurt on Day 10, the script compares the current day's volume (250,000) with the highest volume of the previous nine sessions. In this case, the highest volume among the previous nine sessions is 200,000 (on Day 5). Since the current day's volume (250,000) exceeds the highest volume of the previous nine sessions (200,000), it is considered a volume spurt.


Identifying Gap-Up Days:
Gap-up days occur when the market opens significantly higher than the previous day's close. To identify these days, the script compares the current day's low price with the previous day's high price. If the low price is greater than the previous day's high, it is marked as a gap-up day.

Visualizing the Findings:
To provide a clear visual representation of the identified patterns, the script uses different shapes and colors. First, it plots small red dots above the candles whenever a volume spurt is detected. These dots help traders quickly identify periods of increased volume activity.

For price up moves with volume spikes, the script utilizes blue triangular shapes below the candles. This allows traders to pinpoint instances where both price and volume are showing positive signs, indicating potential bullish movements.

Additionally, the script incorporates green candles to represent gap-up days. These candles help traders recognize days when the market opens with a significant upward gap, suggesting a potential shift in market sentiment.

Conclusion:
The TradingView script discussed in this article provides traders with a visual representation of volume spikes, price up moves with volume spikes, and gap-up days. By incorporating these visual cues into their analysis, traders can gain valuable insights into market trends and potential trading opportunities.

Remember, this script should be used for educational and informational purposes only and does not serve as financial advice or recommendations. Traders are encouraged to customize and modify the script according to their specific trading strategies and risk tolerance.

Share this script with other traders on TradingView to enhance their chart analysis and trading decisions.


PS: This TradingView script is designed to work specifically on the daily timeframe (daily candles). It calculates and identifies volume spurts based on the volume data of the daily timeframe. Since it is designed for the daily timeframe, it may not produce accurate results or work as intended on other timeframes.

2023년 10월 11일

릴리즈 노트

VPSG Identifier With Sector & Industry Info

Description:
Hello, traders! I'm excited to share an enhanced update to our popular TradingView script. We've made significant improvements to provide you with a more versatile and informative tool for analyzing price movements. Your feedback is invaluable, and we encourage you to share your thoughts to help us continue refining this script.

What's New:

1. Minimum Volume Condition: We've now incorporated an additional condition for calculating the volume spurt. The script considers the volume on the day, and it must be above a minimum volume level, set to 1 million by default. This ensures that you identify significant volume spikes for potential trading opportunities.

2. Auto Shape Sizing: To enhance the adaptability of the indicator to various screen sizes and backgrounds, we've resized the visual elements (Circles and Triangles) to "Auto Shape." This means the shapes will automatically adjust to your screen, providing better clarity and user experience.

3. Dark Background Optimization: While we've made changes with a dark background in mind, please note that you may need to adjust the colors if you're using a white background. Customization is key to make the indicator work seamlessly for your preferences.

4. Sector and Industry Information: We've added a sector and industry information feature, inspired by SelfUnmade 's script. This addition offers more context for your analysis, helping you make more informed trading decisions.

Your Feedback Matters:
We're committed to refining this script based on your feedback. If you have suggestions, encounter any issues, or want to share your experiences, please do so in the comments. Your input helps us continuously improve this tool.

5월 20일

릴리즈 노트

We are excited to announce significant improvements and new features in our gap-up bar plotting script.

This update introduces a comprehensive data panel featuring 25 data points categorized into four groups: Broad View, Volume, EMA & 52W HL, and Strength & Volatility. The detailed breakdown of these groups is as follows:

Broad View:

• Industry
  
• Sector
  
• mCap
  
• Shares Float
  
• Free Float % & ff. Mcap
  
• Liquidity Cap
  

Volume:

• Avg Vol (21 Days)
  
• Avg Daily ₹ Volume
  
• Projected Volumes
  
• Relative Volume %
  
• R. Vol (No of Times)
  
• U/D Ratio
  

EMA & 52W HL:

• 21 Days EMA
  
• % Off of 21 EMA
  
• 52 Week High
  
• % off of 52W High
  
• % off of 52W Low
  

Strength & Volatility:

• DCR
  
• WCR
  
• LoD dist.
  
• LoD Price
  
• ADR%
  
• ATR%
  
• ATR
  
• RS Rating
  

We have integrated and expanded upon jfsrevg's original script, which can be accessed here. By adding new data points and combining them with the original script, we have tried to provide a more robust and comprehensive data panel. To enhance user experience, we have introduced conditional formatting to highlight key data points in positive or negative colors based on predefined criteria:

Avg Vol (21 Days): ≥ 10 Lakhs
Avg Daily ₹ Volume: ≥ 5 Cr INR
Projected Volumes: ≥ 21 EMA of Volume
Relative Volume %: ≥ 100%
R. Vol (No of Times): ≥ 1
U/D Ratio: ≥ 1
% Off of 21 EMA: ≥ 0
% off of 52W High: ≥ -15
% off of 52W Low: ≥ 50
DCR: ≥ 50
WCR: ≥ 50
ADR%: ≥ 3
ATR%: ≥ 3
RS Rating: ≥ 60

These thresholds are designed to help users quickly identify critical metrics at a glance. Additionally, the RS Rating calculation has been tailored to the Indian market by default, using the CNX500 index, but it can be easily customized for U.S. users to use the SPX index.

Moreover, we have provided extensive customization options, allowing users to show or hide each data point according to their preferences.

We believe these enhancements will significantly improve your trading analysis and decision-making process. Thank you for your continued support and feedback, which drive these updates. Happy trading!

5월 20일

릴리즈 노트

Just a minor correction in the conditional formatting in 52wHigh distance. Added border as well for better visibility.
Thanks.

5월 21일

릴리즈 노트

Made Small changes to Projected volume. Rest all same. Small changes hence the quick update.

8월 24일

릴리즈 노트

In this update, I've refined the RS calculation, now based on a script by TradingView user vbutani, bringing us closer to the actual RS rating. To enhance accuracy, I've provided two RS ratings: one compared with NIFTY and the other with CNX500. Users can customize the index comparison, with options available in the settings.

I've also made minor changes, shortening some of the names to save space.

12월 14일

릴리즈 노트

SmartVPSG Script Updates
1. Replacing Projected Volume with Projected R.Vol

What’s New?
The standalone "Projected Volume" metric is replaced with Projected Relative Volume Projected R.Vol):
Projected R.Vol = Projected Volume / Average Volume (default: 21 days)
​

The result is displayed as a multiplier (e.g., 5x) instead of a raw projected volume number.

Example:

Projected Volume: 500,000
21-day Average Volume: 100,000
Projected R.Vol = 5x

Why the Change?
"Projected Volume" alone wasn't as actionable in the SmartVPSG panel.
Projected R.Vol adds context by showing how today's volume compares to the historical norm.

It helps evaluate early market volume spikes (e.g., around the open) to gauge potential breakouts.

Note: This doesn't guarantee success but provides an additional layer of analysis. For easy visualisation, the positive background colour will be similar to the Relative volume. Projected R.Vol above 1 is marked as positive by default. Any change to the threshold here will change the background colour style of "Projected R.Vol" and "R.Vol". Raw "Projected Volume," could add more value in scripts like Simple Volume by finallynitin.

2. Removing Unnecessary Gaps Below the Script

What’s New?
Unnecessary gaps below the displayed values are removed for a cleaner layout. However, "Add an empty row above the values" is enabled by default.

Why keep the upper gap?
Many users combine this script with others like QE Ultra Script by EquityCraze. The gap prevents overlap in the right-hand corner, ensuring a clear display.

Customizable Option:
Users can untick "Add an empty row above the displayed values" in the script settings if they prefer no gap.


3. Indian Comma Style and Rounded Numbers

What’s New?
Numbers now use the Indian comma format (e.g., 12,34,567).
Values are rounded to whole numbers (decimals are removed).

Example:
Previously: 1234567.89
Now: 12,34,568

Why the Change?
Many Indian users find this format more intuitive and aligned with their financial reporting practices. The rounding eliminates unnecessary visual clutter from insignificant decimals.

Summary of Updates:

1 - Projected R.Vol enhances breakout evaluation by comparing projected volume to historical averages.
2 - Removed gaps provide a cleaner interface, while the upper gap ensures compatibility with other scripts like QE Ultra Script.
Indian comma style and rounding improve number readability for Indian users.