shtcoinr

Volume Based S/R

I got a question if it would be possible to Automatically draw S/R levels based on Volume rather than RSI as I had earlier done in this script;
Well it certainly is and it looks as though it might even be tradeable.

The indicator compares the size of volume bars so that if there is a noticeable increase in volume (noticeable here meaning above the indicator threshold) it marks the bar high and low prior to the bigger volume candle.
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Excellent work dude, I love this idea. I have an iteration of this myself that I'll refine and send on to you, but I really like this version. Thanks for sharing
+3 Reply
shtcoinr chrysopoetics
@chrysopoetics, Thanks, please do.
+4 Reply
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