Volume Average [UkutaLabs]█ OVERVIEW
Volume Average is a simple yet powerful indicator designed to help traders quickly understand how current trading volume compares to its historical norm.
By plotting an average volume line directly on the volume chart, this indicator makes it easy to identify periods of unusually high or low participation , which often precede or confirm meaningful price movements.
Rather than focusing on raw volume alone, Volume Average provides essential context—helping traders distinguish between routine market activity and moments when volume truly matters.
█ HOW IT WORKS
The indicator calculates a moving average of volume over a user-defined period and displays it alongside standard volume bars.
Volume above the average suggests increased market interest
Volume below the average indicates reduced participation
Sustained deviations from the average can highlight accumulation, distribution, or breakout conditions
█ PRACTICAL USE CASES
Confirming breakouts and breakdowns
Identifying high-participation trend moves
Spotting low-volume consolidations
Filtering false price moves caused by weak volume
█ SETTINGS
Adjustable volume average length
Works on all markets and timeframes
Compatible with any trading style (scalping, day trading, swing trading)
█ SUMMARY
Volume Average is a clean, no-noise tool that helps traders focus on what matters most: when volume is truly significant . It pairs well with price action, support and resistance, and trend-based strategies. Indicator
Stock Data Table█ OVERVIEW
This is a table that shows some information about stocks. It is divided into four sections:
1) Correlation
2) Shares
3) Daily Data
4) Extended Session Data
The table is completely modular, which means you can add or remove each element from the settings menu, and it will automatically rearrange its spaces.
It is also highly customizable, to the extent that you can change almost any color, remove or change titles, invert section rows, and much more.
1) Correlation
The script checks if the stock is listed on NASDAQ, and if so, uses the QQQ (Nasdaq-100 ETF) as the reference index in the first cell; otherwise, it uses the SPY (S&P 500 ETF). The length of the correlation is shown in the second cell. The table then displays the correlation between the reference index and the other index, and the correlation between the reference index and the stock.
To make it easier to interpret the correlation values, each row's last cell is color-coded with a gradient to highlight the type of correlation, and the direction of the gradient can be customized.
The correlation coefficient is a statistical measure that quantifies the strength and direction of the relationship between two variables, indicating how changes in one variable are associated with changes in the other variable, so it can be used to identify patterns and trends.
If you are interested in correlation, I suggest taking a look at my dedicated indicator:
2) Shares
This feature provides you with quick access to key information about shares and market capitalization.
On one row, you can view the total shares outstanding and the market capitalization for the fiscal year or the quarterly year. The total shares outstanding represents the total number of shares of the stock that have been issued and are currently outstanding, regardless of whether they are held by insiders or public investors. The market capitalization is a widely used measure of the company's value as determined by the stock market, calculated by multiplying its current stock price with the total number of outstanding shares.
The other row shows the float, which is the number of shares of a company that are available for public trading, and the corresponding free-float market cap, calculated by multiplying the company's current stock price with the float. Because Pine Script does not allow retrieving information about quarterly year float, you can view the float and the free-float market cap of the fiscal year only. The data can be displayed at all times or only when the difference between the total shares outstanding and the float is significant enough to result in a difference between the market cap and free-float market cap.
The classification for market cap and free-float market cap is set in this way:
Mega Cap: $200 billion or more
Large Cap: between $10 billion and $200 billion
Mid Cap: between $2 billion and $10 billion
Small Cap: between $300 million and $2 billion
Micro Cap: less than $300 million
Penny Stocks: less than $5 (customizable)
Comparing the free-float market cap to the market cap can provide insights into the liquidity of a stock. In fact, if the float is relatively small compared to the total shares outstanding, it may be more difficult to find buyers or sellers, which could lead to increased volatility. On the other hand, a larger float indicates that the stock is more liquid and may be easier to trade, potentially resulting in lower volatility. However, market conditions can change quickly and significantly, especially for intraday traders, and the free-float can also change as insiders or other large shareholders buy or sell shares. Therefore, comparing the data of the fiscal year with that of the quarterly year may not provide the most up-to-date and accurate information for making trading decisions. This limitation can be mitigated by combining those data with other indicators and tools, such as technical analysis or news events, to gain a better understand of the stock's performance and potential trading opportunities.
3) Daily Data
This section is available on daily charts only due to the lack of accuracy of real-time daily data on other time frames. Here, you can view the Average Daily Volume (ADV) over a preferred time range (20 days by default), and the Daily Change, which represents the percentage difference between the closing price on two consecutive trading days.
ADV is useful in measuring the stock's volatility, as it provides an indication of how much trading activity there is in it. Generally speaking, stocks with higher trading volume tend to be less volatile than stocks with lower trading volume. High trading volume means there are more buyers and sellers actively trading the stock, which makes it easier for investors to buy and sell shares at fair prices. This increased liquidity can help to stabilize the stock price, reducing the potential for large swings in either direction. On the other hand, stocks with lower trading volume may experience greater volatility, as there are fewer buyers and sellers actively trading the stock. This can result in larger price swings, as it may be more difficult for investors to buy or sell shares at fair prices.
The daily percentage change can provide an indication of the stock's volatility, with larger values indicating greater volatility and risk. It can also be compared to that of a benchmark such an index or other stocks in the same sector, helping to determine whether the stock is outperforming or underperforming relative to them.
4) Extended Session Data
The fourth section is available on intraday charts only. This section provides two pieces of information: the Extended Session Change and the Pre-Market Volume.
The Extended Session Change indicates the percentage difference between the previous day's closing price and the latest price in the extended session. This gives you the extent and the direction of the price gap that occurred during extended trading hours.
The Pre-Market Volume shows the sum of all shares traded during the pre-market session. This can be helpful in understanding how much interest the stock gained before the market opened.
By default, the two rows will be visible at all times. They will stop updating after the end of their respective time range, and resume updating when it starts again. However, you can choose to automatically hide them outside of their time ranges.
Both the extended session and pre-market time ranges can be customized. Please note that if you select time ranges outside of the regular market session (as set by default), you must enable the extended session to view the corresponding rows.
█ GENERAL NOTES
• Total Shares Outstanding, Float, Average Daily Volume and Pre-Market Volume cells use a customizable color system based on two thresholds, to help you quickly identify whether the value is "too low/acceptable/too high" or "too low/not enough high/acceptable".
• If you cannot see certain data, that simply means it is not available. Indicator
Strategy
