Red Volume Tsunami

What does the indicator do?
"Red Volume Tsunami" is a combined indicator that identifies extreme volumes in the market and signals potential reversal points. It combines two logics:

Volume Tsunami — determines abnormally high volumes relative to historical data.

Golden Antilope — filters candles with an unusually high volume and significant size.

How does it work?

Volume analysis:

Compares the current volume with the average (SMA/EMA) and maximum for the selected period.

Detects volume spikes (when the current volume exceeds the average by a factor of volumeSpikeThreshold).

Filters the first significant bursts (to avoid multiple signals in a row).

Candle Filtering (Golden Antilope):

Highlights candlesticks where the volume in monetary terms (close * volume) exceeds the average by barCoef times.

It takes into account the size of the candle (barFilter) to cut off small fluctuations.

The SHORT signal:

It is formed when:

The volume exceeds the threshold (relativeVolumeAlertThreshold).

This is the first significant spike in the last 20 bars.

The candle is bearish and meets the criteria of the Golden Antilope.

How to use it?

Settings:

The period for calculating the historical volume is the smoothing length (365 days by default).

The volume jump threshold is how many times the current volume should exceed the average (2x by default).

The alert threshold is the minimum relativeVolume value for the signal (97% by default).

Avg size coef (GA) is the coefficient for volume filtering (4x by default).

Candle size filter (GA) — the minimum candle size in % (1% by default).

Interpretation:

The red label "🌊 TSUNAMI" appears when all the conditions for SHORT are met.

The histogram shows the relative volume:

Orange: the volume is above the alert threshold.

Red: the volume is close to the historical maximum.

What makes the indicator unique?

The combination of the two approaches is not just looking for abnormal volumes, but also checks their significance through the monetary volume and candle size.

Repeat signal filtering — takes into account only the first strong spike in the last 20 bars, reducing the number of false positives.

Flexible settings — allows you to adapt the indicator to different markets and timeframes.


Why is it available by invitation only?
This indicator combines complex signal filtering logic, which makes it more efficient than simple volume scripts. Limited access allows you to control its distribution and collect meaningful feedback from experienced traders.https://www.tradingview.com/x/wnL8vM2J/