BIG VOLUME INDICATOR ADVANCED Update:
Overview: The BIG VOLUME INDICATOR ADVANCED is a powerful tool designed for traders who want to visually identify significant volume spikes in their trading charts. This indicator allows users to highlight candles based on their volume, making it easier to spot trends and potential trading opportunities.
Key Features:
Lookback Period:
Specify the number of candles to consider when determining volume significance. The default lookback period is set to 50 candles.
Approximate Volume Matching:
Enable this feature to highlight candles with volumes that fall within a specified range of a target volume. Users can set a custom volume (in thousands, millions, or billions) and define a tolerance percentage to create a range around the target volume.
Volume Comparison:
Activate this option to filter candles based on their volume in relation to a specified comparison value. Users can choose to highlight candles with volume that is:
More than the specified volume.
Less than the specified volume.
Exact volume matching, allowing for precise analysis.
Volume Unit Selection:
Choose the unit for volume input: Hundreds, Thousands, Millions, or Billions, making it easier to work with different data scales.
Dynamic Volume Display:
The indicator displays the volume in a user-friendly format (K, M, B) on the highlighted candles, enhancing readability and quick interpretation.
Visual Highlighting:
Candles meeting the specified volume criteria are highlighted with color-coded labels: green for bullish candles and red for bearish candles. Background color shading provides additional visual cues.
Updates:
Introduced an Approximate Volume Matching feature: Allows users to specify a target volume with a defined tolerance percentage.
Added a Volume Comparison option: Users can now filter candles based on whether their volume is more than, less than, or exactly equal to a specified volume.
Implemented Volume Unit Selection: Users can select the volume input unit (Hundreds, Thousands, Millions, Billions) for easier data interpretation.
Enhanced Volume Display: Volume values on highlighted candles are now displayed in a more readable format (K, M, B).
Usage:
This indicator is ideal for day traders, swing traders, and anyone interested in volume analysis as part of their trading strategy. By focusing on significant volume movements, users can make more informed decisions and identify potential market reversals or continuations.
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