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Stef’s Dollar Volume Counter for All Investors

I’m excited to share my latest creation, Stef’s Dollar Volume Counter, the second script I’ve worked on and coded. This script is particularly special to me because it addresses a crucial aspect of trading: counting the AMOUNT of money traded, not just the number of shares, contracts, or coins. Understanding the flow of big and small money is key to making informed trading decisions.

What Makes Stef’s Dollar Volume Counter Unique?

Unlike traditional volume scripts that focus on the quantity of shares or contracts traded, Stef’s Dollar Volume Counter highlights the dollar volume traded. This shift in focus provides a clearer picture of market activity and the influence of large and small trades. Additionally, this script stands out by offering specific dollar volume amounts, either as a table or a label on the chart.

Key Features

Here are the five key features of Stef’s Dollar Volume Counter:

  1. Customizable Gradient Colors for BIG and SMALL Money: Easily distinguish between high and low dollar volumes with customizable gradient colors in the indicator settings menu.
  2. Dollar Volume Counter Table: Located at the bottom right of the chart, this table provides quick insights into the highest, lowest, and average dollar volumes over a specified period. Customize the time period in the settings menu to suit your analysis needs.
  3. “Wow! Much Money!” Labels: These labels highlight the top three recent highest dollar volumes within the visible chart area, drawing attention to significant trading periods with a touch of humor.
  4. Customizable Analysis Period: Adjust the period for volume analysis, ranging from 1 to 12 months or more, with the selected timeframe displayed in the table.
  5. New Pane for Analysis: The script opens in a new pane below the chart, allowing you to continue analyzing price and other data without clutter.

Recent Updates

July 22 Release Notes

I’m thrilled to announce two major updates that enhance the functionality of Stef’s Dollar Volume Counter:

  1. Moving Average Feature: Added a moving average to the Dollar Volume Bars, allowing you to observe the ebb and flow of dollar volume traded over time.
  2. M2 Money Supply Adjustment: In the settings menu, you can now adjust your Dollar Volume calculations for the M2 money supply. This provides an “inflation-adjusted” view of dollar volume over time, a feature I’m particularly proud of given the current inflation discussions.

Future Enhancements

July 24 Release Notes

I’m continuously working to improve Stef’s Dollar Volume Counter. Here are a few updates in the pipeline:

  1. Oscillator Feature: Introducing a Dollar Volume Oscillator to spot expansions and contractions over time, offering a dynamic view beyond sheer dollar volume.
  2. Indexing to 100: Indexing the Dollar Volume chart to 100 allows you to track rises and falls over time from a specific starting point, providing a relative perspective.
  3. Pine Script Text Updates: A few minor text component updates in Pine Script to enhance user experience.

Special Thanks

A heartfelt thank you to all the Pine Coders who contribute to the community with their knowledge, code sharing, and open-source work. Your support and collaboration are invaluable.

Get it here: https://www.tradingview.com/script/YjhuiuEU-Stef-s-Dollar-Volume-Counter/

Interested in more trading tools and resources? Check out the money supply indicator for investors, explore TradingView tutorials for all traders, and learn about modern trading terms explained.