diff --git a/strategies/High_Volume_Bars_Strategy.pine b/strategies/High_Volume_Bars_Strategy.pine new file mode 100644 index 0000000..4d806cb --- /dev/null +++ b/strategies/High_Volume_Bars_Strategy.pine @@ -0,0 +1,18 @@ +// Description: This script identifies high-volume bars that close up or down as potential indicators of bullish or bearish institutional activity, respectively. It generates buy and sell signals based on these conditions. +//@version=4 +study("High Volume Bars Strategy", shorttitle="HVBS", overlay=true) + +// Input parameters +length = input(14, title="Length") +multiplier = input(2, title="Multiplier") + +// Calculate average volume +averageVolume = sma(volume, length) + +// Generate signals +buySignal = crossover(volume, averageVolume * multiplier) and close > open +sellSignal = crossover(volume, averageVolume * multiplier) and close < open + +// Plot buy and sell arrows +plotshape(buySignal, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.triangleup, size=size.small) +plotshape(sellSignal, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.triangledown, size=size.small)