OPEN-SOURCE SCRIPT

Highest Volume [Quant Alchemy]

This indicator is designed for traders looking to enhance their strategy based on volume analysis. The "Highest Volume Signal" identifies significant volume changes and signals potential points of interest.

**Features:**

- **Lookback Period Customization**: Set the number of bars to look back for analyzing the highest volume.
- **Volume Signal Multiplier**: Configure the percentage by which the current bar's volume must exceed the highest volume found in the lookback period to trigger a signal.
- **Visualization**: The indicator plots a shape (triangle) above bars where the signal occurs, making it easy to spot.

**Usage:**

- **Strategy Enhancement**: Use the indicator to identify potential points to signal strategy action when unusually high volume is observed.
- **Customizable Parameters**: Adjust the lookback period and volume signal multiplier to fit your trading style.

**How It Works:**

- The indicator calculates the highest volume among bars within a user-defined lookback period.
- It then compares the volume of the current bar to this highest volume. If the current volume exceeds the highest volume by a set percentage (volume signal multiplier), a signal is generated.
- The indicator is particularly useful in volatile markets where volume spikes can precede significant price movements.

**Application:**

Ideal for short-term traders and those who use volume analysis as part of their trading strategy. The indicator provides an additional layer of confirmation for making informed decisions in trading positions.
Volume

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

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