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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Comments

Is it possible to add multi-timeframe option
+8 Reply
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
+4 Reply
shtcoinr chrysopoetics
@chrysopoetics, Thanks, please do.
+5 Reply
I love this indicator and for what it is to trade futures, it really works too well, my question is, if this same indicator could be done for ninjatrader? I really do not understand very well how it works to try to do it myself, I just need it: c
+2 Reply
martinweb Mazapan
@Mazapan, whats your strategy to make best use of it?
Reply
Wow just took a look at this historically and looks extremely nice, gotta try it on live but looks very promising.
+1 Reply
What is the definition of length in your script? What does it represent?
+1 Reply
shtcoinr Public_front
@Public_front, Its the time period for the rolling stdev, as in over how many bars is the stdev calculated
Reply
The script is very nice , thanks for your effort !
+1 Reply
Hi, I really liked both your RSI and Volume based Indicators.

It would be great if demand and supply zones cannbe created using higher highs, higher lows, lower highs and lower lows
Reply
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