VHB by bigmm

Volume-Based Support/Resistance Levels Indicator identifies significant price levels based on high-volume trading activity across three timeframes (4H, D, W). The script draws horizontal lines at key support/resistance levels where trading volume exceeded 60% of the maximum volume observed over the previous 499 periods.

Analyzes volume spikes on 4-hour, daily, and weekly timeframes

Displays colored lines (green for bullish candles, red for bearish candles)

Maintains only the 5 most recent significant levels to avoid chart clutter

Labels each line with its respective timeframe (4H, 1D, 1W)

Lines extend in real-time to show current relevance of each level

Traders can use these volume-based levels to identify potential support/resistance zones and make informed decisions about entry/exit points, recognizing areas where significant trading activity previously occurred.