Open-Based Adjustable Levels

This indicator gives signals for levels where the buy or sell volume is above adjustable levels (ex, volume at 100,000). And these levels will only signal after the price has gone above/below a certain 'adjustable' percentage of the stocks opening price.

Example: Signal sell when the price action is 0.7% above market opening price and when sell volume is above 120,000

or

Signal buy when buy volume is above 80,000 and the price is 0.5% below market opening price.

Great for day trading and detecting potential swings in the market. Above image is on a 3min chart.

Doesn't work as well on daily time frames or above.

Should be combined with other indicators like buy/sell channels, for the best confirmations