OPEN-SOURCE SCRIPT
Advanced Volume
Advanced Volume is a modular volume analysis suite designed to uncover hidden buying and selling pressure that standard volume bars often miss. Instead of cluttering your chart with multiple oscillators, this tool combines five institutional metrics—Chaikin Money Flow (CMF), Money Flow Index (MFI), Volume RSI, Relative Volume (RVOL), and Volume Oscillator—into a single, adaptive pane.
The script features a "Hero Metric" system, allowing you to choose which oscillator is visualized on the chart, while an intelligent dashboard monitors the remaining metrics in the background to generate a composite "Total" market bias score.
Key Features
5-in-1 Architecture: Switch the main view between CMF, MFI, Volume RSI, RVOL, or Volume Oscillator without removing the indicator.
Divergence Engine: Automatically detects and labels bullish and bearish discrepancies between price action and the selected volume metric.
Hidden Liquidity Detection: Identifies "Churn" candles—specifically Dojis with unusually high relative volume—often signaling absorption or a potential reversal.
Live Dashboard: A real-time table displaying the status of all five metrics simultaneously, culminating in an aggregate Bullish/Bearish/Neutral score.
How to Use
1. The Hero Metric (Main Oscillator) By default, the indicator displays Chaikin Money Flow (CMF).
Green Bars: Buying pressure (Inflow).
Red Bars: Selling pressure (Outflow).
Customization: You can change this in the settings to MFI, Volume RSI, or RVOL depending on your trading style.
2. Divergence Signals The script looks for pivot points where price and volume disagree.
Bullish Div (Label Up): Price makes a lower low, but volume momentum makes a higher low. This suggests selling exhaustion.
Bearish Div (Label Down): Price makes a higher high, but volume momentum makes a lower high. This suggests weak buying conviction.
3. Hidden Liquidity (Yellow Diamonds) Small yellow diamond markers appear above candles when a specific condition is met: The candle is a Doji (indecision) BUT Relative Volume is extremely high (default > 2.0x average). This indicates a battle between buyers and sellers where significant volume was exchanged with zero net price movement—often a sign of a localized top or bottom.
4. The Dashboard Located on the chart, this panel provides a summary of the broader market health:
Money Flow: Tracks CMF status.
MFI: Checks for Overbought (>80) or Oversold (<20) conditions.
Rel Vol: Displays the current volume multiplier (e.g., 2.5x).
Vs VWAP: Checks if the price is above or below the Volume Weighted Average Price.
TOTAL: Sums up the signals from all metrics to give a final trend bias (Bullish, Bearish, or Neutral).
Disclaimer This indicator is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a guarantee of future results.
The script features a "Hero Metric" system, allowing you to choose which oscillator is visualized on the chart, while an intelligent dashboard monitors the remaining metrics in the background to generate a composite "Total" market bias score.
Key Features
5-in-1 Architecture: Switch the main view between CMF, MFI, Volume RSI, RVOL, or Volume Oscillator without removing the indicator.
Divergence Engine: Automatically detects and labels bullish and bearish discrepancies between price action and the selected volume metric.
Hidden Liquidity Detection: Identifies "Churn" candles—specifically Dojis with unusually high relative volume—often signaling absorption or a potential reversal.
Live Dashboard: A real-time table displaying the status of all five metrics simultaneously, culminating in an aggregate Bullish/Bearish/Neutral score.
How to Use
1. The Hero Metric (Main Oscillator) By default, the indicator displays Chaikin Money Flow (CMF).
Green Bars: Buying pressure (Inflow).
Red Bars: Selling pressure (Outflow).
Customization: You can change this in the settings to MFI, Volume RSI, or RVOL depending on your trading style.
2. Divergence Signals The script looks for pivot points where price and volume disagree.
Bullish Div (Label Up): Price makes a lower low, but volume momentum makes a higher low. This suggests selling exhaustion.
Bearish Div (Label Down): Price makes a higher high, but volume momentum makes a lower high. This suggests weak buying conviction.
3. Hidden Liquidity (Yellow Diamonds) Small yellow diamond markers appear above candles when a specific condition is met: The candle is a Doji (indecision) BUT Relative Volume is extremely high (default > 2.0x average). This indicates a battle between buyers and sellers where significant volume was exchanged with zero net price movement—often a sign of a localized top or bottom.
4. The Dashboard Located on the chart, this panel provides a summary of the broader market health:
Money Flow: Tracks CMF status.
MFI: Checks for Overbought (>80) or Oversold (<20) conditions.
Rel Vol: Displays the current volume multiplier (e.g., 2.5x).
Vs VWAP: Checks if the price is above or below the Volume Weighted Average Price.
TOTAL: Sums up the signals from all metrics to give a final trend bias (Bullish, Bearish, or Neutral).
Disclaimer This indicator is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a guarantee of future results.
Skrip sumber terbuka
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Skrip sumber terbuka
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.