This indicator combines all that I have found useful throughout the years about volume analysis. Shoutout of people, whose rules I have used to make the indicator goes to: Mark Minervini, William O'Neil, Gil Morales, Dan Zanger, David Ryan
WHAT IT DOES
The indicator plots the Volume series and highlights to bring the trader's attention to important rules. Most of the settings are color settings that show when a condition is being met.
👉 Pocket Pivot = Up Volume today > Highest Down volume in 10 pervious days
👉 Inverse Pocket Pivot = Down Volume today > Highest Up volume in 10 pervious days
👉 Lowest Volume = Very low volume in the past 10 days
👉 Simple Moving average of Volume
👉 Highlight when Volume is above SMA = ability to highlight different colors for up and down volume
👉 Biggest volume in 252 Days (up and down)
👉 Table with summary of important information
HOW TO USE IT
I usually consult volume a lot while trading. My general advise is to look for above average volume on up days indicating strong institutional accumulation. Conversely when there are a lot of highlighted above average down volume days its good to be cautious of the stock.
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