NVME Volume Matrix
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Features
NVME Volume Matrix is the first volume-based indicator within the NVME Trading suite and it provides users with enough information to know about the current market situation. Users are able to identify who is in control of the market at any time. The indicator itself is really simple and to use and can be customised efficiently to the user's needs. There is also the ability to predict future volume bars by up to 10 bars so that the user can get some idea of what the next market state might be too.
Main Settings
NVME Volume Matrix has four main settings that the user can utilise for changing the representation of the volume within the indicator. These settings are universal across the volume detection module and they can be tweaked easily too.
Volume Timeframe is the first input within this group and it allows the user to change the data represented to them through utilising a higher time-frame's volume metric.
Volume Amplifier is the second input within this group and it's value will change all the results massively as this value acts as a multiplier for buying data, selling data and anomalies.
Show Possible Ranging Areas is the third input within this group and if enabled it will identify anomalies within the volume data and usually when anomalies are found the market is in a state of consolidation. This can be useful for traders looking to avoid bad market situations.
Show Volume Forecast is the fourth input within this group and it will predict the future volume data for both buyers and sellers, however it will ignore future predictions for anomalies. The predictions will predict up to a maximum of 10 bars ahead of time.
This feature only works with the following plot styles: Default, Histogram and Circles.
Traders should use the forecast as an assumption not a real number or ideology to trade with.
Miscellaneous Settings
The miscellaneous settings in the NVME Volume Matrix indicator allows the users to custom the colour scheme of the indicator, apply gradients utilising the custom colour inputs, change the plot style of the volume represented and change the thickness of each plot too.
Colours
The colours can be changed through the settings and it supports all colours within the RGB spectrum and users can even use colour codes too. You can customise the following colours: Buying Volume, Selling Volume and Other Identified Volumes.
Buying Volume is coloured in a bright green colour using the code: #0bfc03.
Selling Volume is coloured in a bright red colour using the code: #ff0000
Other Volume is coloured in a purple colour using the code: #9003fc
Applying Gradients
Users are able to apply gradients to the volume indicator easily. This can be done by checking the tick box input and what users will notice is that the representation of each volume bar has a different colour that is similar to one another.
Plotting Styles
With NVME Volume Matrix, users are able to customise the way the volume is represented to them. We have all supported PineScript plot styles available in this drop-down box so users can customise the indicator to their style.
Available Options: Default (Columns), Lines, Hills and Valleys, Histogram, Step Line and Circles.
Plotting Thickness
This next input allows the user to change the thickness of each plot printed on the indicator. The thickness is supported on the following plot styles: Histogram, Hills and Valleys, Lines, Step Lines, Crosses and Circles.
Custom Alerts
With NVME Volume Matrix, users are able to be aware of the current market volume and positions in real-time thanks to built-in internal alerts. Users can also apply both alerts to one alert space thanks to the any alert() function call.
How To Setup The Alerts?
You can find out more about setting up these custom alerts in the page link below.
How To Setup AlertsLast updated
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