Updated volume indicator by SteynTrade Version2
The colour bars:
Green: Price up - Volume > 2 x STD of last 21 bars
Blue: Price up - Volume > 1 x STD of last 21 bars
Maroon: Price down - Volume > 2 x STD of last 21 bars
Purple: Price down - Volume > 1 x STD of last 21 bars
Gray: not high volume bar
Green line: 2 bar sma
Red line: 8 period sma of volume
Blue line: 21 period sma of volume
Bollinger band: 55 period sma with bands 2 deviation from the mean
I use this indicator with TDI and Ichimoku and together they give a view of price action, sentiment and volume on three time frames.
The colour bars:
Green: Price up - Volume > 2 x STD of last 21 bars
Blue: Price up - Volume > 1 x STD of last 21 bars
Maroon: Price down - Volume > 2 x STD of last 21 bars
Purple: Price down - Volume > 1 x STD of last 21 bars
Gray: not high volume bar
Green line: 2 bar sma
Red line: 8 period sma of volume
Blue line: 21 period sma of volume
Bollinger band: 55 period sma with bands 2 deviation from the mean
I use this indicator with TDI and Ichimoku and together they give a view of price action, sentiment and volume on three time frames.
