Highest Volume Candle

A custom indicator created by TrendSpider Team on TrendSpider. You can import this custom indicator into your TrendSpider account. Don't have TrendSpider? Create an account first, then import the custom indicator.

This indicator identifies and highlights the candle with the highest volume over the last 50 candles by painting it yellow, making it easy to spot key liquidity points and potential areas of interest.

Source code

This indicator had been implemented by TrendSpider Team in JavaScript on TrendSpider. Check out the developer documentation to learn more about JS on TrendSpider.

describe_indicator('Highest Volume Candle');

// This indicator highlights the candle with the highest volume 
// in the last 50 candles by painting it yellow.

// Input for the lookback period
const lookback = input.number('Lookback Period', 50, { min: 1 });

// Function to find the index of the highest volume candle
const findHighestVolumeIndex = (volumeSeries, length) => {
    let maxVolume = -Infinity;
    let maxIndex = -1;
    
    for (let i = volumeSeries.length - length; i < volumeSeries.length; i++) {
        if (volumeSeries[i] > maxVolume) {
            maxVolume = volumeSeries[i];
            maxIndex = i;
        }
    }
    
    return maxIndex;
};

// Find the index of the highest volume candle
const highestVolumeIndex = findHighestVolumeIndex(volume, Math.min(lookback, volume.length));

// Create a series for coloring
const candleColors = for_every(close, (_c, _p, i) => 
    i === highestVolumeIndex ? 'yellow' : null);

// Color the candles
color_candles(candleColors);

// Add a label to the highest volume candle
paint_label_at_line(
    paint(close, { hidden: true }),
    highestVolumeIndex,
    'Highest Volume',
    { color: 'black', background_color: 'yellow' }
);

// Register a signal for the highest volume candle
const highestVolumeSignal = for_every(close, (_c, _p, i) => 
    i === highestVolumeIndex ? 1 : 0);

register_signal(highestVolumeSignal, 'Highest Volume Candle');