Volume Indicators in Pine Script

Volume is a crucial indicator of market strength. This guide covers all volume-based indicators in Pine Script.

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Basic Volume

Volume Plot

//@version=6
indicator("Volume", overlay=false)
 
plot(volume, title="Volume", color=color.blue, style=plot.style_histogram)

Colored Volume

//@version=6
indicator("Colored Volume", overlay=false)
 
// Green if up, red if down
volColor = close > open ? color.green : color.red
 
plot(volume, title="Volume", color=volColor, style=plot.style_histogram)

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VWAP (Volume Weighted Average Price)

Basic VWAP

//@version=6
indicator("VWAP", overlay=true)
 
vwap = ta.vwap(close)
 
plot(vwap, color=color.purple, title="VWAP", linewidth=2)

VWAP with Bands

//@version=6
indicator("VWAP Bands", overlay=true)
 
vwap = ta.vwap(close)
vwapSD = ta.stdev(vwap, 20)
 
upper = vwap + vwapSD * 2
lower = vwap - vwapSD * 2
 
plot(vwap, color=color.purple)
plot(upper, color=color.red)
plot(lower, color=color.green)

Anchored VWAP

//@version=6
indicator("Anchored VWAP", overlay=true)
 
// Start from a specific date or bar
startBar = input.int(100, "Start Bar")
 
src = close[math.min(startBar, bar_index)]
 
cumVol = 0.0
cumVol := cumVol + volume
cumPV = 0.0
cumPV := cumPV + volume * close
 
avwap = cumPV / cumVol
 
plot(avwap, color=color.orange, title="Anchored VWAP")

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OBV (On-Balance Volume)

Basic OBV

//@version=6
indicator("OBV", overlay=false)
 
obv = ta.obv()
 
plot(obv, title="OBV", color=color.blue)

OBV with MA

//@version=6
indicator("OBV with MA", overlay=false)
 
obv = ta.obv()
obvMA = ta.sma(obv, 20)
 
plot(obv, title="OBV", color=color.blue)
plot(obvMA, title="OBV MA", color=color.orange)

OBV Divergence

//@version=6
indicator("OBV Divergence", overlay=true)
 
obv = ta.obv()
sma20 = ta.sma(close, 20)
 
// Price makes new high
priceNewHigh = high > ta.highest(high, 20)[1]
 
// OBV divergence
obvDiv = obv < ta.highest(obv, 20)[1]
 
signal = priceNewHigh and obvDiv
 
plot(sma20, color=color.blue)
plotshape(signal, location=location.belowbar, style=shape.labelup, color=color.red, text="DIV")

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Volume MA

Volume Moving Average

//@version=6
indicator("Volume MA", overlay=false)
 
volMA = ta.sma(volume, 20)
 
plot(volume, title="Volume", color=color.gray, style=plot.style_histogram)
plot(volMA, title="Volume MA", color=color.blue)
 
hline(volMA, color=color.orange, linestyle=hline.style_dashed)

Volume Surge

//@version=6
indicator("Volume Surge", overlay=false)
 
volMA = ta.sma(volume, 20)
volSurge = volume > volMA * 2
 
volColor = volSurge ? color.red : color.gray
 
plot(volume, title="Volume", color=volColor, style=plot.style_histogram)
plot(volMA, title="MA", color=color.blue)

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Volume Profile

Simple Volume Profile

//@version=6
indicator("Volume Profile", overlay=false)
 
// Calculate visible range
highestBar = ta.highest_bar(id=bar_index, length=input.int(100, "Lookback"))
lowestBar = ta.lowest_bar(id=bar_index, length=input.int(100, "Lookback"))
 
// POC (Point of Control)
volAtPrice = array.new_float(0)
 
for i = 0 to 100
    // Simplified - just show current bar volume
    array.push(volAtPrice, volume)
 
plot(volume, style=plot.style_histogram, color=color.blue)

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Money Flow

Money Flow Index

//@version=6
indicator("MFI", overlay=false)
 
mfi = ta.mfi(close, 14)
 
plot(mfi, title="MFI", color=color.purple)
 
hline(80, color=color.red, linestyle=hline.style_dashed)
hline(20, color=color.green, linestyle=hline.style_dashed)

Chaikin Money Flow

//@version=6
indicator("CMF", overlay=false)
 
length = input.int(20, "Length")
 
// Money Flow Multiplier
mfm = ((close - low) - (high - close)) / (high - low)
 
// Money Flow Volume
mfv = mfm * volume
 
// Chaikin Money Flow
cmf = ta.sma(mfv, length) / ta.sma(volume, length)
 
plot(cmf, title="CMF", color=color.blue)
 
hline(0, color=color.gray)
hline(0.05, color=color.green, linestyle=hline.style_dashed)
hline(-0.05, color=color.red, linestyle=hline.style_dashed)

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Accumulation/Distribution

A/D Line

//@version=6
indicator("Accumulation/Distribution", overlay=false)
 
ad = ta.ad()
 
plot(ad, title="A/D", color=color.blue)

A/D with MA

//@version=6
indicator("A/D with MA", overlay=false)
 
ad = ta.ad()
adMA = ta.sma(ad, 20)
 
plot(ad, title="A/D", color=color.blue)
plot(adMA, title="A/D MA", color=color.orange)

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Complete Volume Indicator

//@version=6
indicator("Complete Volume System", overlay=false)
 
// === INPUTS ===
showVWAP = input.bool(true, "Show VWAP")
showOBV = input.bool(true, "Show OBV")
showMFI = input.bool(true, "Show MFI")
 
// === CALCULATIONS ===
vwap = ta.vwap(close)
obv = ta.obv()
mfi = ta.mfi(close, 14)
 
// === PLOTTING ===
// VWAP (on separate indicator for clarity)
if showVWAP
    label.new(bar_index, vwap, "VWAP", color=color.purple)
 
// Volume
volColor = close > open ? color.green : color.red
plot(volume, title="Volume", color=volColor, style=plot.style_histogram)
 
// OBV
if showOBV
    plot(obv, title="OBV", color=color.blue, scale=scale.left)
 
// MFI
if showMFI
    plot(mfi, title="MFI", color=color.purple, scale=scale.left)
    hline(80, color=color.red, linestyle=hline.style_dashed, scale=scale.left)
    hline(20, color=color.green, linestyle=hline.style_dashed, scale=scale.left)

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Volume Strategies

Volume Breakout Strategy

//@version=6
strategy("Volume Breakout")
 
volMA = ta.sma(volume, 20)
volumeSurge = volume > volMA * 1.5
 
sma20 = ta.sma(close, 20)
breakout = close > sma20 and volumeSurge
 
if breakout
    strategy.entry("Long", strategy.long)
 
// Exit
if ta.crossunder(close, sma20)
    strategy.close_all()
 
plot(sma20)
plot(volMA, color=color.orange)

VWAP Reversal Strategy

//@version=6
strategy("VWAP Reversal")
 
vwap = ta.vwap(close)
 
// Buy at VWAP support
buyAtVWAP = ta.crossover(close, vwap)
 
// Sell at VWAP resistance
sellAtVWAP = ta.crossunder(close, vwap)
 
if buyAtVWAP
    strategy.entry("Long", strategy.long)
 
if sellAtVWAP
    strategy.entry("Short", strategy.short)
 
plot(vwap, color=color.purple)

MFI Strategy

//@version=6
strategy("MFI Strategy")
 
mfi = ta.mfi(close, 14)
 
// Oversold
if mfi < 20
    strategy.entry("Long", strategy.long)
 
// Overbought
if mfi > 80
    strategy.close_all()
 
plot(mfi)
hline(80)
hline(20)

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Volume Reference

Indicator	Description
Volume	Number of shares traded
VWAP	Volume-weighted average price
OBV	Cumulative volume direction
MFI	Money flow index (0-100)
A/D	Accumulation/Distribution

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Next Steps

• basics - Build strategies
• entries-exits - Entry/Exit logic
• backtesting - Backtest strategies

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Volume confirms price moves and reveals institutional activity.