indicator · own pane · open source
Volume Filter
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About
Volume Filter shades every bar whose volume exceeds mult × SMA(volume, len) — a quick visual mask for 'this is a real participation bar'.
- Trade only the green-shaded bars when you want a strict participation filter.
- The threshold (
mult) is the dial: lower = more bars pass, higher = only the loudest qualify.
Source code
//@version=5
indicator("Volume Filter", overlay=false)
len = input.int(20, "SMA length", minval=2, maxval=200)
mult = input.float(1.5, "Multiplier", minval=0.5, maxval=10, step=0.1)
vf = volume > ta.sma(volume, len) * mult
bgcolor(vf ? color.new(color.green, 85) : na)
p_Volume = plot(volume, "Volume", color=color.blue, style=plot.style_columns)
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