Custom Volume for scalping

3 Nov

### **Indicator Summary: Custom Volume with Arrow Highlight**

#### **Purpose:**
This indicator visualizes volume bars in a chart, highlighting specific conditions based on volume trends. It displays arrows above the volume bars to indicate potential bullish or bearish market conditions.

#### **Key Features:**
1. **Volume Bars**:
- The indicator plots volume as columns on the chart.
- Volume bars are colored:
- **White** for bullish volume (when the closing price is higher than the opening price).
- **Blue** for bearish volume (when the closing price is lower than the opening price).

2. **Highlight Conditions**:
- The indicator identifies a sequence of three consecutive volume bars:
- The first two bars must be of the same direction (either both bullish or both bearish).
- The third bar must be of the opposite direction.
- Additionally, the third bar's volume must be greater than the previous bar's volume.

3. **Arrow Indicators**:
- When the highlight conditions are met:
- An **upward arrow** ("▲") is placed above the third volume bar for bullish conditions (when the third bar is bullish).
- A **downward arrow** ("▼") is placed above the third volume bar for bearish conditions (when the third bar is bearish).
- The arrows are colored to match the respective volume bar: white for bullish and blue for bearish.

4. **Adjustable Size**:
- The arrows are sized appropriately to ensure visibility without cluttering the chart.

#### **Use Cases:**
- This indicator can help traders identify potential reversals or continuation patterns based on volume behavior.
- It is particularly useful for traders focusing on volume analysis to confirm market trends and make informed trading decisions.

#### **Customization:**
- Users can modify the conditions and visual attributes according to their preferences, such as changing colors, sizes, and label positions.

### **Conclusion:**
The "Custom Volume with Arrow Highlight" indicator provides a straightforward and effective way to visualize volume trends and identify key market conditions, aiding traders in their decision-making processes. It combines the power of volume analysis with clear visual cues, making it a valuable tool for technical analysis in trading.

If you need any further modifications or details, let me know!