Volume Scanner (Spikes & Drops) [Context]

💡 In many trading strategies, volume is used as a filter — but not all volume matters.
What really counts are moments when volume suddenly spikes or drops — these are the bars where something important might be happening: a large player enters the market, a fakeout occurs, or a trend shift begins.

🎯 What this indicator does:
This script highlights only the most significant volume anomalies, filtering out the noise and focusing on real movement:

🔺 Green background = Volume Spike (sudden increase)

🔻 Red background = Volume Drop (sudden decrease)

📊 Optional contextual filter:

Enable price context to show signals only when volume shifts occur alongside a breakout of recent high/low.

Fully customizable: control the strength of spikes/drops, the lookback period, and the minimum gap between signals.

📦 Great for:

Adding a clean volume filter to price action strategies

Quickly spotting key volume bars in real time

Works on any timeframe and market (crypto, forex, stocks, indices)

Open-source script

In true TradingView 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.

artemka3091

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 TradingView. Read more in the Terms of Use.

Open-source script

artemka3091