Predictive Volume + MTF [Pro]

26 Sep 2023

"Predictive Volume + MTF " is a predictor of near-future volume available on 13 of your favorite time frames. The script calculates the volume's % change (PredVol) between Current Volume vs. Previous Volume by predicting whether PredVol will be higher or lower at the end of the current bar using an "elapsed time" vs "volume so far" concept. This gives the benefit of the most up-to-date information without artificial low/high comparisons when a bar has just formed. For example, it would be common to see -100% in a lot of instances when a new bar is just forming which would be normal because volume at the start of a new candle will generally be lower than where it was when the last bar closed. Where this indicator shines is during this old to new bar formation relative to the volume that's carried over to the new bar. As a result, it will now be common to see PredVol values starting much higher because the calculation is dividing up the bar and analyzing fractions of it instead of the entire bar that would otherwise lead to these incorrect volume % change calculations.

Examples of Predictive Volume % Change:
https://www.tradingview.com/x/v1zWgBjs/

In addition, this indicator uses many other advanced and robust features:

⚡ Matrices that create the table, allowing you to add and remove rows and columns to customize the table to show only the information that's important to you
⚡ View up to 13 time frames at once - it's generally a good idea to have at least 5 time frames up to get an overall feeling of the direction/sentiment of volume with the 1d being 1 of the 5
⏩ Includes the following popular time frames: 1m, 3m, 5m, 10m, 15m, 30m, 1h, 2h, 4h, 8h, 1d, week, month
⚡ 3 "bias mode" choices that use Relative Volume (RVOL) from calculations between Current, Previous & Average Volume that provide a heat map with varying degrees of color representing buying & selling momentum of your favorite asset. Traders generally have an innate bias when it comes to their trading methodology. The script's
author created separate modes to account for this. One way to utilize the indicator is to use 2 on your chart, 1 Bullish and 1 Bearish, to see if volume sentiment is skewed towards your particular bias
⏩ 🟢 Standard Mode 🔴 - displays green and red to depict volume momentum using same RVOL calculations as Bullish & Bearish modes
⏩ 🐂 Bullish Mode 🐂 - displays 5 colors to represent the levels of intensity of the Buy/Sell/RVOL data (light blue, green, yellow, light orange, dark orange)
⏩ 🐻 Bearish Mode 🐻 - displays 5 colors to represent the levels of intensity of the Buy/Sell/RVOL data (light red to dark red)

Ex. of all 3 bias modes showing very bullish volume sentiment:
https://www.tradingview.com/x/a42CzQm0/

Ex. of all 3 bias modes showing very bearish volume sentiment:
https://www.tradingview.com/x/MG6JeDdx/

⚡ 2 types of alerts: PREDEFINED and CUSTOM
💡 PREDEFINED ALERTS consist of 4 Bullish & Bearish levels with Lvl 1 designed to be less sensitive than Lvl 2 etc
⏩ Configurable for every time frame, "On Close" or "Each Bar". On Close could be a better choice on lower time frames so that you're not getting a bunch of triggers over a short duration & Each Bar could be a better option for higher time frames so that you don't miss a move mid bar for instance
⏩ Creating a PREDEFINED BULLISH/BEARISH ALERT saves a snapshot of the alert's settings. You can then change the settings and create another alert
⏩ For example, you could create one alert for any alert type (bull and/or bear), for every time frame all at once, or you can create multiple & separate alerts, giving each one a unique name with the time frame that it's for: ex. BTC - Bullish Vol Lvl1 (1m) (keep in mind that TV provides you the ticker, time frame & alert
type automatically (the script's author hard-coded the label names within the script and as a result when they do fire you're provided the type of alert, such as "Bearish Vol (Lvl 1). Technically, you don't even need to name the alert again)

In this example, you're provided information on how to create PREDEFINED ALERTS, what conditions cause the alerts to trigger and how they'll look when they do fire
https://www.tradingview.com/x/ChfO5DVO/

💡 CUSTOM ALERTS consists of 6 metrics giving you the ability to create your own custom compound alerts
⏩ Configurable for every time frame, "On Close" or "Each Bar". On Close could be a better choice on lower time frames so that you're not getting a bunch of triggers over a short duration & Each Bar could be a better option for higher time frames so that you don't miss a move mid bar for instance
⏩ Creating a CUSTOM ALERT works the same way as PREDEFINED ALERTS (see chart below)
⏩ Check your conditions in real-time for accuracy via a debug feature aka "SHOW HELP FOR TIME FRAME"

In this example, you're provided information on how to create CUSTOM ALERTS
https://www.tradingview.com/x/2NVNALFH/

⚡ Header function that provides the ticker, time frame and session that you're on (can use in lieu of TV's watermark feature, or use together)
⏩ There's 2 customizable header inputs - you could include your TradingView username in one of them for the times when promoting your charts across your favorite social media sites
⚡ Timer that shows you when a bar will begin/end plus other features that allow you to change the size and positioning of the table within your charts
⚡ An input that allows you to change the "significant figures" for rounding purposes - can be especially useful when volume is low or when you're trading OTC stocks
⚡ 4 volume moving average lengths - Intraday, Daily, Weekly, Monthly - for those times when 1 moving average to cover the entire gamut of just won't suffice

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There's quite a bit more information provided in the attached charts as well as the tooltips within the inputs section of the indicator. Should you have any questions, feedback etc, please do not hesitate to contact the script's author. My hope is that this indicator becomes an invaluable resource to you and you're able to integrate it in to your everyday trading tool bag to make more informed decisions.

14 Nov 2023

Nota Keluaran

Fixed a study error.

15 Nov 2023

Nota Keluaran

Fixed a minor bug

15 Nov 2023

Nota Keluaran

Fixed another minor bug related to custom alerts.

20 Jan

Nota Keluaran

💥NEW FEATURE💥

You can now choose whether the Predictive Volume is calculated as a percentage of the Previous Volume (the default behavior) or of the Average Volume. If you hover over a Predictive Volume value in the table, a tooltip appears that tells you what the base is. The Average Volume used for this calculation is the same one displayed in the table; you can configure the length of the moving average in the settings. You might want to base Predictive Volume off Average Volume if, for example, you are interested in a longer-term volume breakout after consolidation.

20 Jan

Nota Keluaran

Minor organization to settings.

31 Jan

Nota Keluaran

Another update, more customization ability 💥

⚡Added additional time frames, mostly higher ones like 10D, 14D, 20D, 2M, 3M, 6M but I also added 2m, 20m and 45m to get extra customization

⚡Added an MA length for each time frame. The 1m, 1D, 1W and 1M are set to MA length 2. If you set them to "1" then you're effectively taking the average volume for just that respective time frame. In other words the current volume will be the same as the average volume. However the 2m is set to "2" and the 30m is set to "30" etc which means they are taking the average volume over the past 2 and 30 minutes respectively. But you can of course configure the MA length for your favorite time frame to your heart's desire

⚡I rearranged header column names. I feel as though this sequence is more intuitive and provides less cognitive stress as you consider the data within the table

In this screenshot, you can see that BTC has gained considerably over the past week which is reflected in the table's higher time frames especially.

https://www.tradingview.com/x/rJ1b8j1a/

2 Feb

Nota Keluaran

I apologize for all of the updates lately. Hopefully this is the last one for a while.

⚡Took out the Predictive Volume (Previous vs Average) dropdown box from the most recent update and instead gave them their own input
⚡You can now choose to have Predictive Volume (Current Volume vs Previous Volume) side by side with Predictive Volume (Current Volume vs Average Volume) via the aforementioned inputs
⚡You can now choose to base a custom alert's Predictive Volume on one of the Predictive Volume options (via a dropdown box)
⚡Added a 4th color bias called "Standard II". It includes all 5 of the bullish colors with 2 from the bearish color scheme