Volume Brkout

The Volume Breakout indicator plots a dot at the high price of every bar which volume is at least 50% higher than the average volume of the last 50 bars. The number of bars used to calculate the average (AvgLength) can be changed as well as the percentage used (BrkOutPct). This indicator triggers an alert each time a volume breakout is found.

Default Inputs

AvgLength (50) sets the number of bars used to calculate average volume.
BrkOutPct (50) sets the percentage over the average volume in order to be considered a breakout.