OPEN-SOURCE SCRIPT
Adaptive High Volume Bars - Swing V2
is a volume activity indicator designed to highlight unusual trading participation directly on price candles while keeping the volume panel compact and easy to read.
The indicator classifies volume into four levels:
N — Normal
H — High
VH — Very High
EX — Exceptional
Bullish candles use a green-to-blue color scheme, while bearish candles use light gray for normal activity and an orange gradient for abnormal volume.
The lower panel uses fixed-height activity bars rather than a traditional volume histogram. This makes the importance of each event immediately visible without allowing raw volume spikes to distort the scale.
The indicator combines two statistical methods:
Absolute Volume measures how far the current volume is above its historical average using a Z-score based on the moving average and standard deviation of volume.
Volume Acceleration measures the sudden increase in volume compared with the previous candle.
The script automatically adapts its detection method and thresholds to four commonly used timeframes:
Weekly (1W)
Absolute volume detection with a 52-week lookback.
Daily (1D)
Absolute volume detection with a 200-bar lookback.
4 Hour (4H)
Hybrid detection combining absolute volume and volume acceleration.
1 Hour (1H)
Hybrid detection with stricter thresholds to reduce intraday noise.
In Hybrid mode, the indicator keeps the strongest signal produced by either absolute volume or volume acceleration.
The goal is not to measure price strength directly, but to identify periods when market participation becomes statistically unusual. These events can help provide additional context around breakouts, reversals, momentum expansion, capitulation and potential exhaustion moves.
The script also includes alert conditions for bullish and bearish High, Very High and Exceptional volume events.
This indicator is intended as a market analysis tool and should not be used as a standalone trading signal.
The indicator classifies volume into four levels:
N — Normal
H — High
VH — Very High
EX — Exceptional
Bullish candles use a green-to-blue color scheme, while bearish candles use light gray for normal activity and an orange gradient for abnormal volume.
The lower panel uses fixed-height activity bars rather than a traditional volume histogram. This makes the importance of each event immediately visible without allowing raw volume spikes to distort the scale.
The indicator combines two statistical methods:
Absolute Volume measures how far the current volume is above its historical average using a Z-score based on the moving average and standard deviation of volume.
Volume Acceleration measures the sudden increase in volume compared with the previous candle.
The script automatically adapts its detection method and thresholds to four commonly used timeframes:
Weekly (1W)
Absolute volume detection with a 52-week lookback.
Daily (1D)
Absolute volume detection with a 200-bar lookback.
4 Hour (4H)
Hybrid detection combining absolute volume and volume acceleration.
1 Hour (1H)
Hybrid detection with stricter thresholds to reduce intraday noise.
In Hybrid mode, the indicator keeps the strongest signal produced by either absolute volume or volume acceleration.
The goal is not to measure price strength directly, but to identify periods when market participation becomes statistically unusual. These events can help provide additional context around breakouts, reversals, momentum expansion, capitulation and potential exhaustion moves.
The script also includes alert conditions for bullish and bearish High, Very High and Exceptional volume events.
This indicator is intended as a market analysis tool and should not be used as a standalone trading signal.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.