VMA with highlights.txt

//@version=5
indicator("Volume Moving Average with Highlights", overlay=true)

// Define the length
std_dev = input(30, title="Length of Volume Standard deviation")
length = input.int(3, title="Volume MA Length")

// Plotting MA
moving_average = ta.sma(volume, length)

// Calculate the standard deviation of volume over the last n candles
volumeSD = ta.stdev(volume, std_dev)

ma_std_dev_1 = moving_average + volumeSD
ma_std_dev_2 = moving_average - volumeSD

// Volume red and Volume green
volume_green = close > open
volume_red = close < open 


// Conditions for highlighting and placing dots
volumeAboveMA1 = volume_green and volume > ma_std_dev_1
volumeBelowMA2 = volume_red and volume > ma_std_dev_1

// Highlighting candle bars
bgcolor(volumeAboveMA1 ? #1D5F5E : na)
bgcolor(volumeBelowMA2 ? #813539 : na)


// Placing dots under the candles
plotshape(volumeAboveMA1, style=shape.circle, location=location.belowbar, color=color.green, size=size.tiny)
plotshape(volumeBelowMA2, style=shape.circle, location=location.belowbar, color=color.red, size=size.tiny)


// Plotting the moving averages and standard deviations
plot(volume, title = "Volume Line", color = color.white, style = plot.style_line, linewidth = 2, display = display.none)
plot(ma_std_dev_1, title="Moving Average Standard Deviation 1", color=color.green, style=plot.style_line, linewidth=2, display = display.none)
// plot(ma_std_dev_2, title="Moving Average Standard Deviation 2", color=color.red, style=plot.style_line, linewidth=2)
// plot(moving_average, title="3-Day MA", color=color.yellow, style=plot.style_line, linewidth=2)