Volume Avg

The Volume Average indicator displays a 50-bar average of the volume overlaid on the current volume. The number of bars used to calculate the average can be changed.

This indicator triggers an alert when the current volume breaks out above the average volume by a percentage greater than the percentage specified in the input AlertPct.

Default Inputs

AvgLength (50) sets the period, expressed in bars, for which to calculate the average volume.
AlertPct (50) sets the percentage by which volume must be greater than the average. UpColor (cyan) sets the color to be used for the volume plot when the Price input's value is greater than it was one bar ago. DownColor (red) sets the color to be used for the volume plot when the Price input's value is lower than it was one bar ago.