OPEN-SOURCE SCRIPT
Updated Volume Pressure
Draws the candle chart with colors to represent low, medium and high volumes. You get 3 colors for downward and 3 colors for upward movement. This will aid with immediately seeing the relative volume pushing the stock candle in the direction of movement.
You can control the percentage threshold for low and high volume. You also can change the colors to represent each volume level for upward and downward movement.
You can control the percentage threshold for low and high volume. You also can change the colors to represent each volume level for upward and downward movement.
Release Notes
Draws the candle chart with colors to represent low, medium and high volumes. You get 3 colors for downward and 3 colors for upward movement. This will aid with immediately seeing the relative volume pushing the stock candle in the direction of movement.You can control the percentage threshold for low and high volume. You also can change the colors to represent each volume level for upward and downward movement.
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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