TradingView
millerrh
Aug 5, 2019 1:48 AM

Volume Climax 

BINANCE:BTCUSDT120
Bitcoin / TetherUSBinance

描述

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This indicator couples RSI oversold and overbought regions with unusual volume . Often times you will see the final leg of a trend exhaust itself with this volume climax. This indicator is meant to help spot these instances.

User has the ability to customize oversold and overbought regions as well as a multiplier for how much more the volume needs to be relative to the 20 SMA . You can also set an alert with this indicator.

版本注释

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Added the ability to step up the multiplier by 0.1 increments. The previous one only allowed integer values.

版本注释

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Update to Pine v5
Relative Strength Index (RSI)Volume IndicatoroverboughtoversoldTOPbottom
评论
arcivil2
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Cant able to see the indicators in the chart.. its blank... Its still there ?
millerrh
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@arcivil2, It turns the candles yellow when the conditions are met.
llucianomaia
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Hello. Could you please forward the script so that I can integrate it with other indicators? My Trading View is still free, with limited indicators. :)
millerrh
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@llucianomaia, I'm not sure what you are asking. The script code is there, so you could easily copy it and paste it into a single indicator to get around the limit.
llucianomaia
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@millerrh, Does not open code. {...} does not appear like the others. It says the script is closed.
millerrh
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@llucianomaia, Oh I see, for some reason I published this one as protected. I normally don't do that, so I'm not sure why. I tried to update it just now and change the protection to Open but it won't let me change it after the fact. Here's the code for you:

//@version=5

// Revision: 1
// Author: @millerrh
// Strategy: Identify oversold and overbought regions that have a volume climax - this can often signal the exhaustion of current trend.

indicator('Volume Climax', overlay=true)

// === INPUTS ===
volMult = input.float(title='Volume Trigger Multiplier', defval=2.5, step=0.1)
obRSI = input(title='Overbought RSI Level', defval=70)
osRSI = input(title='Oversold RSI Level', defval=30)

// === SETUP ===
xRSI = ta.rsi(close, 14)
overbought = obRSI
oversold = osRSI
xVol = ta.sma(volume, 20)
osClimax = xRSI < oversold and volume > xVol * volMult
obClimax = xRSI > overbought and volume > xVol * volMult

barcolor(osClimax ? color.yellow : na, title='Oversold Bar Color')
barcolor(obClimax ? color.yellow : na, title='Overbought Bar Color')

alertcondition(osClimax, title='Oversold Climax', message='Oversold Climax')
alertcondition(obClimax, title='Overbought Climax', message='Overbought Climax')
llucianomaia
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@millerrh, Thank you very much, it will help a lot. I loved the tool
OversoldPOS
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@millerrh, Thank you for this indicator. Works very well in calling tops and bottoms.
AbuAzam54
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what means ^^ volume trigger multipler^^

and How can be used
millerrh
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@AbuAzam54, Sorry if not clear, this is a multiplier above the average volume - in this case the average of the last 20 periods. So default is 1.5X. If the average volume is 4000, a value of 6000 would trigger this.
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