Intraday Volume Indicator for INDICES by TBTPH Pine Script code for an intraday volume indicator with session and lunch break highlights looks great! Here’s a summary of what each part of the script does:
Indicator Settings:
The indicator is set to show on a separate pane (overlay=false).
The SMA Length is adjustable with an input box (default of 20).
Volume and SMA Calculation:
You calculate the Simple Moving Average (SMA) of the volume over the selected length.
The volume color is determined based on whether the close price is higher or lower than the previous close and if the volume is above or below the SMA.
Volume Plot:
Volume is plotted as a histogram with different colors to indicate if the volume is higher or lower than the SMA.
You plot the SMA of the volume with an orange line for easier comparison.
Background Color:
You set a light gray background color to give a subtle contrast.
NYSE and LSE trading sessions are highlighted with green and blue, respectively.
Lunch break periods are highlighted with a white background for both exchanges.
Here are a couple of improvements or suggestions you might consider:
Session Time Overlap Handling:
If the script is applied to a chart where both NYSE and LSE data is visible, they may overlap depending on the time zone of your chart. Ensure the session times align with the active market's timezone, especially if you are using a chart with a different timezone setting.
Color Customization:
The color scheme for bullish/bearish volume could be enhanced further. For example, you could introduce more transparency for low-volume periods to make the histogram appear more subtle during less active trading times.
Handling Different Time Zones:
If your chart is not in the "America/New_York" or "GMT" time zone, be mindful of the session times. The timestamp function depends on the chart’s time zone, so ensuring you're adjusting for different markets is key.
LSE
UK Sectors Comparison SMAProvides a chart showing SMA of UK equity indexes from CBOE www.cboe.com
Shows either percentage change from baseline, or absolute index values.
All configurable (including selected symbols), but the defaults are:
SMA 100,
Show Absolute Values = true
Baseline is set to CBOEEU:BUKAC
Sector indexes are:
UK Consumer Cyclicals = CBOEEU:BUKCONC
UK Mining and Minerals = CBOEEU:BUKMINP
UK Finance = CBOEEU:BUKFIN
UK Technology = CBOEEU:BUKTEC
UK Telecoms = CBOEEU:BUKTEL
UK Consumer Services = CBOEEU:BUKCONS
UK Healthcare = CBOEEU:BUKHLTH
UK Energy = CBOEEU:BUKENGY
UK Utilities = CBOEEU:BUKUTL
UK Business Services = CBOEEU:BUKBUS
UK Consumer Non-Cyclicals = CBOEEU:BUKCNC
UK Industrials = CBOEEU:BUKIND
UK Non-Energy Minerals = CBOEEU:BUKNIM
NOTE: takes a few seconds to load as it needs to request all the data
Check the tooltips in the settings for detailed help.
