indicator · on price · open source
Volume Climax
Running…
Loading chart…
About
Volume Climax flags bars where volume is more than 2× the lookback SMA AND the bar's range exceeds 1.5× ATR — climax bars often mark exhaustion.
- Use the diamond marker to spot exhaustion in real time, then wait for a follow-through bar in the opposite direction to confirm.
- A climax bar inside an existing range is more meaningful than one at the start of a new trend.
Source code
//@version=5
indicator("Volume Climax", overlay=true)
len = input.int(20, "Lookback", minval=2, maxval=200)
climax = volume > ta.sma(volume, len) * 2 and (high - low) > ta.atr(len) * 1.5
barcolor(climax ? color.yellow : na)
plotshape(climax, "Climax", style=shape.diamond, location=location.abovebar, color=color.yellow, text="CX")
alertcondition(climax, "Volume climax", "Volume climax bar printed")
No comments yet.
Sign in to comment.