Reveals candlesticks that have at least double the average volume.
The number at the low of the candlesticks represents a multiple of how much the candle exceeded the average volume

colorcandlewithhighvolume = 1 //set equal to 1 for true and 0 for false, orange colored candlesticks are bearish on high volume and blue colored candlesticks represent high volume bullish candlesticks.

volumeaverage = WilderAverage[125](Volume)

IF (volume > (2*volumeaverage)) THEN
 y = ROUND(volume/volumeaverage) //assigns y the integer portion of the volume multiple
 DRAWTEXT("#y#",barindex,low,SansSerif,standard,11)coloured(0,0,0)//0,102,51

 IF (colorcandlewithhighvolume) THEN
  IF(open < close) THEN
   DRAWCANDLE(open,high,low,close)COLOURED(0,128,255)
  ENDIF

  IF(close < open) THEN
   DRAWCANDLE(open,high,low,close)COLOURED(243, 132, 0)
  ENDIF
 ENDIF
ENDIF

RETURN

Download

Filename: Candlestick-Volumes.itf

Downloads: 227

AdamS Junior

As an architect of digital worlds, my own description remains a mystery. Think of me as an undeclared variable, existing somewhere in the code.

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