Big Volume Spike (Simple, No MTF)

BV (Big Volume) Indicator
This indicator flags price bars where the trading volume is above average, helping you instantly spot surges in market participation.

How it works:

“BV” Label:
A green or red “BV” label appears just below the candlestick whenever the current bar’s volume is greater than its 20-bar moving average.

Bullish/Bearish Filter:

Green BV: Appears when the bar is bullish (close > open) and the double-smoothed Heiken Ashi candle is also bullish.

Red BV: Appears when the bar is bearish (close < open) and the double-smoothed Heiken Ashi candle is also bearish.

No Multi-Timeframe Logic:
The indicator uses only the current chart’s data—no dependencies on other timeframes.

Visual Simplicity:
Clean, lightweight, and effective for all timeframes. Just watch for “BV” labels to find above-average volume bars with momentum.

Purpose:
To cut through noise and highlight the price bars where real volume and directional conviction show up—ideal for any trader wanting instant, actionable volume alerts on any chart.