The Climatic Volume X indicator detects when a candlestick has a relative volume higher than the “HighVolume” settings.
The relative Volume is equal to the current candlestick volume divided by the average of volumes calculated with the last “length” bars.
It is an indicator where high volume climatic candles are marked with resistance lines and support that could be used as breakout thresholds.
Converted from TradingView code following a request in the indicator’s forum.
The below code is for PRT v11 only. You can download the compatible v10.3 itf file at the bottom of this page.
//PRC_Climatic Volume X | indicator
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from tradingview
//PRT V11 only
// --- settings
Length = 10 //average length for Volume
HighVolume = 2 //minval=0.01 High Volume
showrelativevolume= 1 //Show Relative Volume (1=true)
showlines = 1 //Show Lines (1=true)
Extendlines= 10 //Extend Lines
// --- end of settings
AverageVolume = average[Length](volume)
RelativeVolume = volume / AverageVolume
dt = time - time
if RelativeVolume > HighVolume and showrelativevolume then
if RelativeVolume > HighVolume and showlines then
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