OPEN-SOURCE SCRIPT
Updated SuperTrend Volume [BigBeluga]
SuperTrend Volume [BigBeluga] is an advanced trend-following indicator that combines the traditional SuperTrend method with a normalized volume visualization inside trend bands, offering enhanced insight into market dynamics and volume activity.
🔵Key Features:
🔵Usage:
SuperTrend Volume [BigBeluga] is a versatile tool suitable for traders who want to combine trend analysis with volume dynamics for a more comprehensive view of the market. It is ideal for identifying trend strength, detecting reversals, and gauging the participation of market players during directional moves.
🔵Key Features:
- Dynamic Trend Bands: The indicator uses the SuperTrend methodology to plot upper and lower trend bands, which adapt dynamically to price movements. Green bands indicate an uptrend, while purple bands indicate a downtrend.
- Normalized Volume Visualization:
- Inside the trend bands, normalized volume is displayed to highlight the intensity of market participation during trends.
- Users can choose between two visualization types:
- Bars: Displays volume as vertical bars within the bands.
- Area: Represents volume as a shaded area for a smoother look.
- Color-Coded Trends: Trend direction is color-coded:
- Green for bullish trends.
- Purple for bearish trends.
- Volume Labels: Each bar or area has a label showing the normalized volume value 0-4 for easier interpretation.
- Trend Change Detection: Automatically identifies trend reversals by recalculating the SuperTrend levels and adjusting volume visualization accordingly.
🔵Usage:
- Trend Identification: Use the color-coded trend bands to confirm the current market direction and identify potential reversals.
- Volume Confirmation: Assess the strength of trends using normalized volume inside the bands. Higher normalized volume indicates stronger market conviction.
- Peak Volume can be a signal of the mean reversion of price
- Customization: Adjust the visualization type (bars or area) based on personal preference or analysis needs.
- Dynamic Updates: Use volume labels and trend bands to stay updated on market shifts and trading opportunities in real time.
SuperTrend Volume [BigBeluga] is a versatile tool suitable for traders who want to combine trend analysis with volume dynamics for a more comprehensive view of the market. It is ideal for identifying trend strength, detecting reversals, and gauging the participation of market players during directional moves.
Release Notes
- Added ColorsRelease Notes
- Added ColorsRelease Notes
- Max Volume ColorRelease Notes
- Volume Bars Update (now indicator displays more then 500 vol. bars)Release Notes
-Open-source script
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.
🔵Gain access to our powerful tools : bigbeluga.com
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
Disclaimer
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.
Open-source script
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.
🔵Gain access to our powerful tools : bigbeluga.com
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
Disclaimer
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.