Volume Spikes & Growing Volume Signals With Alerts & Scanner

The Volume Spikes & Growing Volume Signals With Alerts & Scanner indicator provides real-time visual alerts for abnormal volume activity and volume trend accumulation across multiple tickers. It utilizes a combination of median volume calculations and the Directional Movement Index (DMI) to identify high-conviction momentum shifts and potential trend reversals.

Usage

The tool is designed to help traders identify periods of high volatility and liquidity, which often precede significant price movements.

• Volume Spikes: Arrows appear on the chart when the current bar's volume exceeds a user-defined multiple of the historical median. A green arrow indicates a bullish volume spike (DMI+ > DMI-), while a red arrow indicates a bearish volume spike (DMI- > DMI+).
• Volume Growth: The chart background is highlighted when volume accumulation is detected. This occurs if the short-term median volume is significantly higher than the long-term average or if the volume moving average has increased for three consecutive bars.
• Multi-Ticker Scanner: A customizable table monitors up to 8 different symbols simultaneously. The cells change color from blue to orange when volume spikes or growth are detected on those specific tickers, allowing for efficient multi-market monitoring.

Details

The indicator calculates a historical benchmark using a median of volume over a large lookback period (e.g., 1000 bars) to ensure outliers do not skew the baseline. By comparing current activity to this "normal" state using multipliers, it filters out noise. The inclusion of DMI data ensures that volume signals are contextualized by price direction, helping to distinguish between buying and selling pressure.

Settings

Volume Spike

• Volume Spike Amount: The multiplier applied to the historical median volume required to trigger a spike signal.
• How Many Bars Back To Calculate The Median From: The lookback period used to establish the baseline volume level.

Volume Growing

• Number Of Bars To Calculate Current Volume Median: The short-term window used to detect recent volume builds.
• Volume Spike Amount For Current Median: The multiplier used to compare recent volume growth against the overall benchmark.
• Number Of Bars Back To Calculate Overall Median: The benchmark window specifically for the growing volume calculation.
• Volume Moving Average Length: The length of the SMA used to detect three consecutive bars of increasing volume.

Table Settings

• Turn Table On/Off: Toggles the visibility of the multi-ticker scanner.
• Table Position: Adjusts where the scanner is displayed on the chart.

Buy & Sell Pressure

• DMI Length: The period for the Directional Movement Index calculation.
• DMI Smoothing: The smoothing factor applied to the DMI lines.

Tickers To Scan

• Ticker #1 - #8: Input fields to define the symbols monitored by the real-time scanner.

FAQ

How do I interpret the background colors?

A colored background signifies "Volume Growth," meaning the average volume is rising or has crossed a significant threshold relative to its history. This often precedes a breakout or a period of high volatility.

Why does the indicator take a moment to load?

The indicator uses the request.security function to fetch data for 8 different tickers simultaneously for the scanner. This requires extra processing time from the platform to aggregate the external data.

How can I access Volume Spikes & Growing Volume Signals With Alerts & Scanner?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.