Climatic Volume Indicator for ThinkorSwim

[Zlotko]

@BenTen did you test it for best settings on ES Intraday?

 

[Abutterfly]

Found this one to be quite interesting, so I converted it over to ThinkorSwim. I also added paintbars (turned off by default) to highlight climatic volume bars.


This script is essentially a “volume shock detector” that marks the high and low of any bar where volume is 2× above average (or whatever threshold you set). After that, it draws a horizontal zone for up to cloud_length bars (default 10).

So what you get is:

A Climactic Volume Bar (CVB)​

A zone defined by that bar’s high/low​

A 10‑bar window where price interacts with that zone​

This is extremely useful for intraday traders because climactic volume often marks one of two things:

Exhaustion (end of a move)​

Initiation (start of a new move)​

View attachment 6503
View attachment 6504

thinkScript Code

# Climatic Volume X
# Converted by BenTen at useThinkScript.com
# Original https://www.tradingview.com/script/rNEj0sM2-Climatic-Volume-X/

# Cloud Zone Code adopted from Larthomp's 'Big Bar Breakout' indicator
input limit_cloud_length = yes;
input cloud_length = 10;
input paintbar = no;
input Length = 10;
def AverageVolume = simpleMovingAvg(volume, Length);
def RelativeVolume = volume / AverageVolume;
input HighVolume = 2;

def a = RelativeVolume > HighVolume;

def climatice_vol = if a then 1 else 0;
def vol_high = if climatice_vol then high else vol_high[1];
def vol_low = if climatice_vol then low  else vol_low[1];
def vol_length = if climatice_vol then 1 else vol_length[1] + 1;
plot vol_hh = if limit_cloud_length == no or limit_cloud_length == yes and vol_length <= cloud_length then vol_high
else Double.NaN;
plot vol_ll = if limit_cloud_length == no or limit_cloud_length == yes and vol_length <= cloud_length then vol_low
else Double.NaN;
vol_hh.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
vol_ll.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
vol_hh.SetDefaultColor(Color.GRAY);
vol_ll.SetDefaultColor(Color.GRAY);

assignPriceColor(if paintbar and a then color.blue else color.current);

You should add highlight such as a cloud: addcloud( vol_hh , vol_ll , Color.WHITE );

 

[Ricky_005]

Nice little study