Volume Breakout (ValueRay)

19 Okt 2021

Easy visuals on, if volume is way over average. Good for Mean Reverting. Higher Volume tends to higher breakout chances.

Please whisper me for for ideas how to make this better. Its a very simple script, but got some alpha. If you know how to improve, let me know and i will code it into.

4 Apr 2023

Nota Keluaran

- Updated to PineScript Version 5
- Volume Breakout is now calculated via Standard Deviation than via Multiply
- Yellow Line = mean
- Red Column Volume = Volume below mean
- Green Column Volume = Volume above mean but below one Standard Deviation (chance 34.1%)
- Light Green Volume Breakout is above one Standard Deviation away from mean. Chances there are: 50% - 34.1 = 15.9%

4 Apr 2023

Nota Keluaran

- Update Picture
- Naming of Inputs

19 Mei 2023

Nota Keluaran

- color update for better visibilty
- code cleanup

21 Mei 2023

Nota Keluaran

- Adding Price Gaps Up/Down on top of the Volume.
- The color of the Gaps equals the size of the Gap.
- You can define a minimum Gap percentage.

28 Mei 2023

Nota Keluaran

- Adding "Volume Divergence": a small Triangle Up below the Volume, when the Price is going up, allthough the Volume is low and showing Relative Strength
- Adding a additional 4% Gap Up as a minimal Gap Up Break Out
- Performance Tweeks

2 Jun 2023

Nota Keluaran

• Better default values
  
• Shows a warning on extreme moves
  

7 Jun 2023

Nota Keluaran

• Slight Color Changes
  
• Better Symbols
  
• Better Breakout Logic
  

18 Nov 2023

Nota Keluaran

Better Visuals

1. Colors (Cold to Warm)
   
2. Middle Line as Moving Average
   

Small calculation changes

23 Jul 2024

Nota Keluaran

- Updated Colors and Drawings
- Updated various code parts to optimize the calculations
- Added "new high" showing a purple diamong when Volume reached a new 12m high

19 Jun

Nota Keluaran

Updated to newest Pinescript Version and tweaked the colors and calculations.

18 Okt

Nota Keluaran

• colors based on Z-Score MAD Sigma
  
• new colors very intuitive to read
  
• 250 day high with a purple diamong on top of the volume bar
  
• new 52w high with a cyan circle on bottom of the volume bar
  
• removed the gap (had not signal quality, i backtested it)
  
• removed the vol divergence (had no signal quality, i backtested it)