SVA - Simple Volume Analyzer, by BlueJayBird [bjb]

Jul 25, 2021

ENGLISH & SPANISH

------------------------------------- ENSLIGH
The idea was initially inspired in the concepts shared by LazyBear on his indicator "Better Volume Indicator" (tradingview.com/script/LfVJhuir-Indicators-Better-Volume-Indicator-InstrumentVolume/). But I found it somewhat complicated and dull. So I came up with this.

Concept:

• It changes the color of volume bars based on surrounding volume changes.
  
• Volume changes are plotted as volume MAs lines in the volume pane.
  
• Whenever the volume is higher than these MAs, the bar changes color.
  
• For this reason, the bar color change is RELATIVE TO the surroundings, because the color change depends on how far the MA has been extended due to sudden (or not) changes in the volume.
  

BAR COLORS:

• Weak Green and Red: Low volume. The calm before or after the storm.
  
• Normal Green and Red: Mid volume. Still low volume, you may get bored.
  
• Yellow: High volume. Players are playing hard and harder.
  
• White: Ultra-High Volume. The elephants stepped in.
  

NOTES:

• SVA works better at lower timeframes. Though as far as I can tell, it works pretty well as far as 1D timeframe.
  

------------------------------------- SPANISH
La idea estuvo inicialmente inspirada en los conceptos expuestos por LazyBear en su indicador "Better Volume Indicator" (tradingview.com/script/LfVJhuir-Indicators-Better-Volume-Indicator-InstrumentVolume/). Pero lo encontré un poco complicado y falto de claridad. Así que me inventé este.

Conceptp:

• Cambia el color de las barras basándose en los últimos cambios de volumen.
  
• Los cambios de volumen son ploteados como lineas de medias móviles (MAs, es decir "Moving Averages") en la sección del volumen (chart pane).
  
• En cualquier momento que el volumen es mayor que estos MAs, el color de las barras cambia.
  
• Por esta razon, el cambio de color de las barras es RELATIVO a lo que está sucediendo alrededor, ya que el cambio de color depende de qué tan lejos el MA se haya extendido por causa de los últimos cambios (o no) de volumen.
  

BAR COLORS:

• Verde y rojo apagados: Volumen bajo (Low Volume). La calma antes de la tormenta.
  
• Verde y rojo normales: Volumen medio (Mid volume). Volumen todavía bajo. Es posible que te aburras.
  
• Amarillo: Volumen alto (High Volume). Los jugadores están jugando duro.
  
• Blanco: Volumen ultra-alto (Ultra-High Volume). Los elefantes entran a la cancha.
  

NOTAS:

• SVA funciona mejor en temporalidades menores. Pero por lo que he visto, funciona bien hasta la temporalidad de 1D.
  

Sep 2, 2022

Release Notes

• Added improvements to previous features.
  
• Added programmatic alarms and conditional alarms.
  

Oct 19, 2022

Release Notes

- Added layout themes: Custom, Light and Dark.

Dec 30, 2022

Release Notes

• Several fixes, improvements and simplifications.
  

Dec 30, 2022

Release Notes

• Chart update.
  

Dec 30, 2022

Release Notes

• Added new moving averages and color change for UHV. Now there are 3 shades for UHV. Like so: UHV:L (low range), UHV:M (mid range) and UHV:H (high range). Both, for light and dark theme.
  
• Code simplification, code organization improved.
  
• Alerts improved.
  
• I'll be releasing in the coming weeks a companion indicator with signals mirroring in the price chart the volume bars color changes. Stay tuned!