Features available and logic behind it,
Section - Moving Average
- This will plot a simple moving average line.
- In Settings {Input Tab} "MA Period" can be changed. Default value is 20.
- In Settings {Style Tab} "MA Line" can be ON/OFF by check mark, color and type can be changed. Default "ON", "Line" and "White".
Section - Bar Color
1. Up color
- When Up day, the color of column is green.
- In settings {Input Tab} Color can be changed. Default "Green".
- In settings {Style Tab} Type of volume indicator can be changed such as dots and area etc. Default "Columns".
2. Down color
- When Down day then the color of column is red.
- In settings {Input Tab} Color can be changed. Default color "Red".
3. Relatively High Volume
-When Up day plus that day volume is 2.5 times the average volume then its Relatively High Volume.
- In settings {Input Tab} Color can be changed. Default color "Lime".
4. Relatively Low Volume
- When volume is less than 50% of average volume, irrespective of up or down day then it is Relatively Low Volume.
- In settings {Input Tab} Color can be changed. Default color "Silver".
Section - Step Up and Down Volume
1. Step Up
- When today's volume is more than yesterday's volume and both days' volume should be less than average volume.
- In settings {Style Tab} Color, Type and location of the marker can be changed by user. Default is "Yellow", "Upward Triangle" and "Top".
1. Step Down
- When today's volume is less than yesterday's volume and both days' volume should be less than average volume.
- In settings {Style Tab} Color, Type and location of the marker can be changed by user. Default is "Yellow", "Down Ward Triangle" and "Top".
{NOTE}
This indicator best suited for Daily Timeframe and color selection is best suited for Dark theme.
10 hours ago
Release Notes:
{Note} Up and Down volume is based on previous close.