Options Volume Indicator

Volume Indicator for Option Trading, it is a simple indicator based on Relative Strength Index. There are two horizontal lines are mention 10 and -10, if bar crossed above the (Line 10) then go for buy and when Bar cross under (Line -10) go for sell side.
If Bar Color changed to Respective color of the previous bar i.e. color gets darker then you can exit/ trail SL there because it overbought / Oversold position and vice versa for Sell Side.
this volume indicator works on any Script.
The Black Floating Line indicates the Average volume

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Strategy Tester Added
Update Chart

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The Average RSI Line now more colorful
Always wait for to change the line from red to green for more confirmation
Some minor color changes , three zone specially if RSI crosses above 85 or 15 the Volume candle gets Purple it will shows the RSI is extreme Zone you can exit or wait for newer entry

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Minor changes in zones i.e. 90 and 10 are extreme overbought zones

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minor change

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Smoothing Methods added i.e. HMA & RSI

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RSI Smoothing Method Changes
Easy to Navigate the RSI zone in quick manner

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Change in trend / volume shows on indicator by shape Diamond with its respective colors green for Long side and red for Put side.

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Trend Reversal Indication on Volume chart with black Dimond signal.

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Automatically Set Extreme zones as per the RSI zones

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Smoothing Method Added i.e. RMA

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Added independent Volume for Banknifty to check the average volume of Banknifty Index it acts a regime filter for RSI. for other indexes uncheck the banknifty option from setting pannel.

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Reversed the changes, take longer time to load while trading.

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Minor changes in code to improve performance

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More accurately Reversal Signal Can Work

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Smoothing Bug Fixed

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Minor Changes

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Now you can change the Smoothing Period as well as the some minor changes

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ALMA Confirmation added

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Trend Cloud added help you to understand the trend direction such green represents the Buyers and Red represents the Sellers.
Hope you like it
Regards,
Mayur Supe

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Small Timeframe changes

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bug fixed

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Now you will Detect the High Volume candle on indicator

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The code completely changed
The volume threshold based volume added
reversal dot are draws according to bull and bear color

Hope you like this

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minor bug fixed