Critical Volume Bars for ThinkorSwim

[BenTen]

Hello, this indicator looks for bars with significant average median volume, but only bars with an average median volume greater than 62% of the maximum detected in 89 previous bars will be painted, the detection of this event indicates a relevant supply and demand zone, which can be used as support / resistance, is a good tool for negotiation with price action, greetings

thinkScript Code (With Lower Study and Paint Bars)

# CRITICAL VOLUME X
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/KT6klFAT-CRITICAL-VOLUME-X/

declare lower;

def volmax = highest(volume, 89);
def vol = volume * 100 / volmax * 4 / 5;
def volpmed = expAverage(vol, 21);
def hvpm = vol - volpmed;
def niv_crit = highest(hvpm, 89) * 0.618;

def x = hvpm > 0 and hvpm >= niv_crit;

assignPriceColor(if x then color.white else color.current);

plot histogram = hvpm;
histogram.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
histogram.assignValueColor(if hvpm > 0 and hvpm<niv_crit then color.blue else if hvpm > 0 and hvpm >= niv_crit then color.red else color.white);

thinkScript Code (Without the Lower Study. Only Paint Bars)

# CRITICAL VOLUME X
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/KT6klFAT-CRITICAL-VOLUME-X/

def volmax = highest(volume, 89);
def vol = volume * 100 / volmax * 4 / 5;
def volpmed = expAverage(vol, 21);
def hvpm = vol - volpmed;
def niv_crit = highest(hvpm, 89) * 0.618;

def x = hvpm > 0 and hvpm >= niv_crit;

assignPriceColor(if x then color.white else color.current);

 

[8Nick8]

@BenTen may i know if this can be convert to a scan? I tried to configure but it does not allow me to tell the scanner to find the candle with that critical volume. Seek your advice or anyone who can help. Thank you

 

[BenTen]

@Nick Add this to your script then scan for the arrow. @Oxford896 If you just want arrows, add the code below to your script as well and you can remove the assignPriceColor(if x then color.white else color.current); line.

# Plot Arrow
plot arrow = x;
arrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
arrow.SetDefaultColor(Color.CYAN);
arrow.SetLineWeight(1);

 

[dav_olsen]

Sorry for the newb question, why would you need this? I know its a total newb question.. don't flog me lol

 

[Kimberly]

Sorry for the newb question, why would you need this? I know its a total newb question.. don't flog me lol

A spike in volume can indicate a big move. Often used for entry.

 

[jagat]

benten, can you please add alerts to this script? thank u.

 

[BenTen]

benten, can you please add alerts to this script? thank u.

Here you go. Add to end of script.

Alert(x, "Critical volume bar", Alert.Bar, Sound.Chimes);

 

[jagat]

Here you go. Add to end of script.

Alert(x, "Critical volume bar", Alert.Bar, Sound.Chimes);

thank u benten