Volume-Based Moving Average

Title:
Volume-Based Moving Average

Description:
The Volume-Based Moving Average is a versatile tool that calculates price averages based on cumulative traded volume, highlighting the price levels where significant market participation has occurred. By combining volume-weighted averages with slope confirmation, it helps traders detect trending conditions and potential reversals in real time.

Key Features:
• Volume- Based Average: Computes moving averages based on a volume-period lookback.
• Multi-Source Flexibility: Supports different price inputs, including Close, HL2, HLC3, OHLC4, or High & Low, giving traders control over calculation style.
• Slope Confirmation: Detects sustained upward or downward trends by confirming slope direction over multiple bars, reducing noise from short-term fluctuations.
• Dynamic Coloring: Average lines change color based on trend direction, providing instant visual cues for bullish or bearish momentum.

Inputs & Settings:
• Target Volume for cumulative calculation
• Price Source options (Close, HL2, HLC3, OHLC4, High & Low)
• Slope Confirmation Bars to determine sustained trend direction
• Color customization based on trend slope

Usage:
This indicator helps traders:
• Identify key price levels supported by high trading volume
• Spot emerging bullish or bearish trends based on slope confirmation
• Filter out short-term noise in fast-moving markets
• Enhance trend-following or volume-based trading strategies

Technical Notes:
• Designed for standard OHLC charts; non-standard chart types may produce inconsistent results.
• Past signals do not guarantee future market behavior; always combine with proper risk management.
• Experiment with volume calibration before using in live trades.