GOLD Volume-Based Entry Strategy

Short Description:
This script identifies potential long entries by detecting two consecutive bars with above-average volume and bullish price action. When these conditions are met, a trade is entered, and an optional profit target is set based on user input. This strategy can help highlight momentum-driven breakouts or trend continuations triggered by a surge in buying volume.

How It Works
Volume Moving Average
A simple moving average of volume (vol_ma) is calculated over a user-defined period (default: 20 bars). This helps us distinguish when volume is above or below recent averages.

Consecutive Green Volume Bars

First bar: Must be bullish (close > open) and have volume above the volume MA.
Second bar: Must also be bullish, with volume above the volume MA and higher than the first bar’s volume.
When these two bars appear in sequence, we interpret it as strong buying pressure that could drive price higher.

Entry & Profit Target

Upon detecting these two consecutive bullish bars, the script places a long entry.
A profit target is set at current price plus a user-defined fixed amount (default: 5 USD).
You can adjust this target, or you can add a stop-loss in the script to manage risk further.
Visual Cues

Buy Signal Marker appears on the chart when the second bar confirms the signal.
Green Volume Columns highlight the bars that fulfill the criteria, providing a quick visual confirmation of high-volume bullish bars.

Works fine on 1M-2M-5M-15M-30M. Do not use it on higher TF. Due the lack of historical data on lower TF, the backtest result is limited.