There has been an endless debate on how to derive volume levels on the Price Action One such method which I have encountered (being pointed by one of my followers Anjan Gadade) is to take the (High+Low+close)/3, as an ambient level when volume is above average (sma20) and also when volume is above its Standard Deviation 2
To make sense of the volume level structure I tested it with Swing points, for extra confluence, and i must say, this can be used as a good indication of trend if combined together So I thought to open Source it, to people who might be looking for a much visual Interpretation!
How do we recognise if the blue line formed is resistance or support ??
JS119
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@manishverma83, if price above its support, if price below it's resistance, simple
UnknownUnicorn15320316
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is repaint?
Crypto_Popat
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hi, Thank for the script, i have some questions, some time extreme_volume line is very long and some time it's very short , so what is the difference between them.
ANJANSUBHASHGADADE
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Thanks a lot Sir ji....
JS119
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Ankit, it does wonders
jeffvin
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Very nice
Karthi056
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Thanks for your efforts and educating us 🙏
pradyumna82
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Nice Job Ankit.. Could you please tell what the blue and grey lines are for. Thanks
Ankit_1618
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@pradyumna82, Blue Line is Extreme Volume Level Gray Line is Above average Volume Level