volume-candle.pine

//@version=5
indicator("Volume Candle", "VC")

MAX_TRANS = 100
AVG_TRANS = 50
avgLength = input.int(20, "Average Length", minval=1, maxval=200)
maxTransLimit = input.int(80, "Max Transparency", minval=70, maxval=100)
upColor = input.color(color.teal, "Up Color")
downColor = input.color(color.red, "Down Color")

float trans = 0
if ta.tr(true) != 0 and not na(volume) and volume != 0
    float sum = 0
    count = 0
    for i = 0 to avgLength - 1
        if na(volume[i])
            continue
        sum := sum + volume[i]
        count += 1
    float avgVolume = 0
    if count > 0
        avgVolume := sum / count
    float deviationRate = 1
    if avgVolume > 0
        deviationRate := (volume - avgVolume) / avgVolume
    deviationRate := deviationRate > 1 ? 1 : deviationRate
    deviationRate := deviationRate < -1 ? -1 : deviationRate
    float diffTrans = (MAX_TRANS - AVG_TRANS) * deviationRate
    trans := AVG_TRANS - diffTrans
    trans := trans > maxTransLimit ? maxTransLimit : trans
upColor := color.new(upColor, trans)
downColor := color.new(downColor, trans)
color = close >= open ? upColor : downColor

plotcandle(open, high, low, close, color=color, wickcolor=color, bordercolor=color)