Volume Behavior For TradingView
Volume Behavior For The TradingView Platform
This Indicators colours the candles/bars according to whether the volume for that time period of the candle is an Accumulation or Distribution candle or in fact if it has less volume that the previous candle…….
Volume is an important part of understanding the behaviour of instruments. This Indicators colours the candles/bars according to whether the volume for that time period of the candle is an Accumulation or Distribution candle or in fact if it has less volume that the previous candle. This simple tool can help traders of any instrument that involves volume to instantly visualise this volume behaviour to help confirm trade directions and more importantly to identify when a move is running out of juice and will aid in making trade management decisions.
What do you get
Volume Behavior For TradingView
The Volume Behavior for TradingView indicator is the perfect trading companion for both newbies and pros. It colors candles/bars according to the volume of the traded security compared to the previous candle. This way, you can know if you’re looking at an Accumulation or Distribution candle, and thus make profitable trades.
Let’s take a closer look at Volume Behavior for TradingView and how it can help!
What is Volume and Why it Matters?
Volume is one of the key factors you must understand when trading. If more people are buying an asset, this means that the trading volume has gone up compared to a previous point in time. And vice versa.
As the volume soars and dips, you’ll know when to make your move.
What Does the Volume Behavior For TradingView Do?
Keeping track of volume changes is not all that hard, but getting extra help never hurts. Volume Behavior for TradingView color codes the candles/bars on the chart based on the volume of the traded asset compared to previous candles/bars.
It helps traders instantly visualize any changes, both in buy and sell directions, in the volume of an asset. You’ll also be able to tell when a move is running out of “juice,” and thus make informed trade management decisions.
Making Sense of the Candle Colors
The colors of the candles say much more than what you might think. Here’s a breakdown of what the different colors mean:
- Green: The UP candle has a greater volume compared to the previous candle.
- Grey: The UP candle has a lesser volume than the candle before.
- Red: The DOWN candle has greater volume compared to the previous candle.
- Cyan: The DOWN candle has a lesser volume than the candle before.
Why Use Volume Behavior For TradingView?
It’s hard not to love the Volume Behavior for TradingView. Here’s how it helps you make the best of your trading efforts:
- You don’t have to figure out volume changes on your own.
- The color scheme is simple to understand.
- There is a decent contrast.
- You can spot trends and trend reversals in a pinch.
The Volume Behavior for TradingView is simple on the face of it, but it can help you up the ante in a pinch. With colored candles, you can judge effectively when and how the volume changes and how it affects your trade.
As a trader, you must make informed trading decisions; accurate visualization of volume changes can go a long way down that road.
Happy trading with Volume Behavior for TradingView!
Specification: Volume Behavior For TradingView