Author
ScriptorPublished date
Jan 2, 2019
Normalized Volume is an indicator showing the normalized volume value. It displays the average volume within the bars range, in the form of a colored histogram with a threshold value.
It has two input parameters:
Calculation:
VolumeNorm = Volume / MA * 100.0
where:
MA - SMA(Volume, Period)
Volume - tick volume
If VolumeNorm is greater than Threshold
Histogram bars are colored green.
Otherwise
Histogram bars are colored red.
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