oh92

Volume Extension [DepthHouse]

DepthHouse Volume Extension uses average calculations to determine the dynamic range which the volume travels through. Any spike above the line represents an over extension in average volume .

The colored bars are then calculated in a similar way, which measures a combination of both price and volume action to determine bull & bear exhaustion levels, and possible entry/exit points for big players.

This indicator is 100% free, so if you benefit from using it, please consider supporting me by checking out the several other indicators available on my page :)
Release Notes: fixed extension reading lag
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

A little late to the party, but can you explain how to use the indicator?
+15 Reply
Great indicator!
+1 Reply
Looks good mandingo!
+1 Reply
fantastic.. way to go
+1 Reply
Thank you very much for your indicator.
Reply
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