I decided to practice and rewrite some interesting scripts from mt4 to pinescript for myself, all credits are in the source code.
An interesting indicator, I decided to post it like all other alternatives have closed source code, I hope it will be useful for someone!
With this indicator, you can filter small volumes, thereby making less noise so that you notice a possible trend reversal.
For example, rising/extreme factor set to - 1.263, some volume was filtered, now it's more easy to understand, isn't ?
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Updated the preview for a more understandable purpose of the script
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Update v1.0 [*1] - Indicator bug fix for cryptocurrency pairs thanks to @jonatasbermudes [*2] - Alerts fixed [*3] - Small bug fixes (typo, etc.)
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[ * ] Optimized the logic to be compatible for all markets, including forex and crypto [ * ] Added 5 colors instead of 5, thanks to @eyeioanh for the noticing this. [ * ] Now it's more likely near to the original lua script for MT4.