Haweye volume is the leading volume indicator and can be used for Volume spread analysis and Volume Price Analysis.
Added Volume spike alert to identify Institutional activity.
When there is fourfold volume spike from 4 preceding price bar and the following price bar exceeds the high of the spike bar you can go long and reverse is true for shorts
r_enabled1 = (range > rangeAvg) and (close < d1) and volume > volumeA
r_enabled2 = close < mid1
r_enabled = r_enabled1 or r_enabled2
g_enabled1 = close > mid1
g_enabled2 = (range > rangeAvg) and (close > u1) and (volume > volumeA)
g_enabled3 = (high > high1) and (range < rangeAvg/1.5) and (volume < volumeA)
g_enabled4 = (low < low1) and (range < rangeAvg/1.5) and (volume > volumeA)
g_enabled = g_enabled1 or g_enabled2 or g_enabled3 or g_enabled4
gr_enabled1 = (range > rangeAvg) and (close > d1) and (close < u1) and (volume > volumeA) and (volume < volumeA*1.5) and (volume > volume[1])
gr_enabled2 = (range < rangeAvg/1.5) and (volume < volumeA/1.5)
gr_enabled3 = (close > d1) and (close < u1)
gr_enabled = gr_enabled1 or gr_enabled2 or gr_enabled3
Axelrom94
⋅
hello! i know this might be a bit late but how do i interpret the grey lines? i understand green is buying volume and red is selling but what type of volume are the grey lines?
spacetelecom123
⋅
how to interpretation grey bars pls comment...
Nanda86
⋅
//@version = 4
//
//
study("HawkEye Volume With Volume Spike Alert", shorttitle="HV_aam", overlay=false)
n_times = input(title="Must be N types bigger", minval=1, defval=4.0)
bars_back = input(title="Than average volume in the last X bars", minval=1, defval=4)
ma_type = input(title="Which moving average to use?", defval="SMA", options=["SMA", "WMA", "EMA"])
Hi Nanda , Wonderful work ,thank you very much. You have labeled the part2 and part3 code. Which one is part 1 ? , I would appreciate if you share the entire code.