PROTECTED SOURCE SCRIPT
VoluTrend | Auto Trendlines + Volume
VoluTrend is a trendline tool that combines pivot detection with volume validation to help traders see only meaningful market structures.
How it works:
Pivot Detection: The script scans for local swing highs and lows using a customizable number of left and right bars. This ensures that each pivot reflects a significant turning point in price action.
Volume Filter: Each pivot is checked against a simple volume filter: the pivot is only valid if its associated bar has higher volume than a user-defined multiple of the average volume over a configurable period. This prevents weak or irrelevant pivots from cluttering the chart.
Automatic Trendlines: Once a valid pivot is found, the script automatically draws a trendline from the previous pivot to the new one. It keeps only a limited number of lines to avoid overcrowding the chart. This creates a dynamic, real-time trendline system that updates as price action evolves.
Why combine these elements?
Many auto trendline tools draw lines for every swing, but not all swings are significant. By combining pivot detection with a volume filter, VoluTrend focuses on price levels where notable participation occurred, helping traders better interpret real support/resistance and trend continuation or reversal points.
How it works:
Pivot Detection: The script scans for local swing highs and lows using a customizable number of left and right bars. This ensures that each pivot reflects a significant turning point in price action.
Volume Filter: Each pivot is checked against a simple volume filter: the pivot is only valid if its associated bar has higher volume than a user-defined multiple of the average volume over a configurable period. This prevents weak or irrelevant pivots from cluttering the chart.
Automatic Trendlines: Once a valid pivot is found, the script automatically draws a trendline from the previous pivot to the new one. It keeps only a limited number of lines to avoid overcrowding the chart. This creates a dynamic, real-time trendline system that updates as price action evolves.
Why combine these elements?
Many auto trendline tools draw lines for every swing, but not all swings are significant. By combining pivot detection with a volume filter, VoluTrend focuses on price levels where notable participation occurred, helping traders better interpret real support/resistance and trend continuation or reversal points.
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。