OPEN-SOURCE SCRIPT
[ST] Volume Flow v6
Latest update to the volume flow indicator. It calculates volume fraction up and down based on candle shape: body counts twice one way, wicks count both ways. Total volume (positive + negative) is the regular volume. Additionally, I added breakout detection, oscillator, colored candles for easy trend following, reversal warnings, high and low volume alarms. Every aspect uses volume for calculations.
What some parts mean : i.imgur.com/nZu9rbe.png
Hope this helps someone, I use it myself as signals for confirmations. Tips are cool, but saying thanks is plenty as well :)
What some parts mean : i.imgur.com/nZu9rbe.png
Hope this helps someone, I use it myself as signals for confirmations. Tips are cool, but saying thanks is plenty as well :)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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