Bar metrics / quantifytools— Overview
Rather than eyeball evaluating bullishness/bearishness in any given bar, bar metrics allow a quantified approach using three basic fundamental data points: relative close, relative volatility and relative volume. These data points are visualized in a discreet data dashboard form, next to all real-time bars. Each value also has a dot in front, representing color coded extremes in the values.
Relative close represents position of bar's close relative to high and low, high of bar being 100% and low of bar being 0%. Relative close indicates strength of bulls/bears in a given bar, the higher the better for bulls, the lower the better for bears. Relative volatility (bar range, high - low) and relative volume are presented in a form of a multiplier, relative to their respective moving averages (SMA 20). A value of 1x indicates volume/volatility being on par with moving average, 2x indicates volume/volatility being twice as much as moving average and so on. Relative volume and volatility can be used for measuring general market participant interest, the "weight of the bar" as it were.
— Features
Users can gauge past bar metrics using lookback via input menu. Past bars, especially recent ones, are helpful for giving context for current bar metrics. Lookback bars are highlighted on the chart using a yellow box and metrics presented on the data dashboard with lookback symbols:
To inspect bar metric data and its implications, users can highlight bars with specified bracket values for each metric:
When bar highlighter is toggled on and desired bar metric values set, alert for the specified combination can be toggled on via alert menu. Note that bar highlighter must be enabled in order for alerts to function.
— Visuals
Bar metric dots are gradient colored the following way:
Relative volatility & volume
0x -> 1x / Neutral (white) -> Light (yellow)
1x -> 1.7x / Light (yellow) -> Medium (orange)
1.7x -> 2.4x / Medium (orange) -> Heavy (red)
Relative close
0% -> 25% / Heavy bearish (red) -> Light bearish (dark red)
25% -> 45% / Light bearish (dark red) -> Neutral (white)
45% - 55% / Neutral (white)
55% -> 75% / Neutral (white) -> Light bullish (dark green)
75% -> 100% / Light bullish (dark green) -> Heavy bullish (green)
All colors can be adjusted via input menu. Label size, label distance from bar (offset) and text format (regular/stealth) can be adjusted via input menu as well:
— Practical guide
As interpretation of bar metrics is highly contextual, it is especially important to use other means in conjunction with the metrics. Levels, oscillators, moving averages, whatever you have found useful for your process. In short, relative close indicates directional bias and relative volume/volatility indicates "weight" of directional bias.
General interpretation
High relative close, low relative volume/volatility = mildly bullish, bias up/consolidation
High relative close, medium relative volume/volatility = bullish, bias up
High relative close, high relative volume/volatility = exuberantly bullish, bias up/down depending on context
Medium relative close, low relative volume/volatility = noise, no bias
Medium relative close, medium to high relative volume/volatility = indecision, further evidence needed to evaluate bias
Low relative close, low relative volume/volatility = mildly bearish, bias down/consolidation
Low relative close, medium relative volume/volatility = bearish, bias down
Low relative close, high relative volume/volatility = exuberantly bearish, bias down/up depending on context
Nuances & considerations
As to relative close, it's important to note that each bar is a trading range when viewed on a lower timeframe, ES 1W vs. ES 4H:
When relative close is high, bulls were able to push price to range high by the time of close. When relative close is low, bears were able to push price to range low by the time of close. In other words, bulls/bears were able to gain the upper hand over a given trading range, hinting strength for the side that made the final push. When relative close is around middle range (40-60%), it can be said neither side is clearly dominating the range, hinting neutral/indecision bias from a relative close perspective.
As to relative volume/volatility, low values (less than ~0.7x) imply bar has low market participant interest and therefore is likely insignificant, as it is "lacking weight". Values close to or above 1x imply meaningful market participant interest, whereas values well above 1x (greater than ~1.3x) imply exuberance. This exuberance can manifest as initiation (beginning of a trend) or as exhaustion (end of a trend):
Relativevolume
Fair value bands / quantifytools— Overview
Fair value bands, like other band tools, depict dynamic points in price where price behaviour is normal or abnormal, i.e. trading at/around mean (price at fair value) or deviating from mean (price outside fair value). Unlike constantly readjusting standard deviation based bands, fair value bands are designed to be smooth and constant, based on typical historical deviations. The script calculates pivots that take place above/below fair value basis and forms median deviation bands based on this information. These points are then multiplied up to 3, representing more extreme deviations.
By default, the script uses OHLC4 and SMA 20 as basis for the bands. Users can form their preferred fair value basis using following options:
Price source
- Standard OHLC values
- HL2 (High + low / 2)
- OHLC4 (Open + high + low + close / 4)
- HLC3 (High + low + close / 3)
- HLCC4 (High + low + close + close / 4)
Smoothing
- SMA
- EMA
- HMA
- RMA
- WMA
- VWMA
- Median
Once fair value basis is established, some additional customization options can be employed:
Trend mode
Direction based
Cross based
Trend modes affect fair value basis color that indicates trend direction. Direction based trend considers only the direction of the defined fair value basis, i.e. pointing up is considered an uptrend, vice versa for downtrend. Cross based trends activate when selected source (same options as price source) crosses fair value basis. These sources can be set individually for uptrend/downtrend cross conditions. By default, the script uses cross based trend mode with low and high as sources.
Cross based (downtrend not triggered) vs. direction based (downtrend triggered):
Threshold band
Threshold band is calculated using typical deviations when price is trading at fair value basis. In other words, a little bit of "wiggle room" is added around the mean based on expected deviation. This feature is useful for cross based trends, as it allows filtering insignificant crosses that are more likely just noise. By default, threshold band is calculated based on 1x median deviation from mean. Users can increase/decrease threshold band width via input menu for more/less noise filtering, e.g. 2x threshold band width would require price to cross wiggle room that is 2x wider than typical, 0x erases threshold band altogether.
Deviation bands
Width of deviation bands by default is based on 1x median deviations and can be increased/decreased in a similar manner to threshold bands.
Each combination of customization options produces varying behaviour in the bands. To measure the behaviour and finding fairest representation of fair and unfair value, some data is gathered.
— Fair value metrics
Space between each band is considered a lot, named +3, +2, +1, -1, -2, -3. For each lot, time spent and volume relative to volume moving average (SMA 20) is recorded each time price is trading in a given lot:
Depending on the asset, timeframe and chosen fair value basis, shape of the distributions vary. However, practically always time is distributed in a normal bell curve shape, being highest at lots +1 to -1, gradually decreasing the further price is from the mean. This is hardly surprising, but it allows accurately determining dynamic areas of normal and abnormal price behaviour (i.e. low risk area between +1 and -1, high risk area between +-2 to +-3). Volume on the other hand is typically distributed the other way around, being lowest at lots +1 to -1 and highest at +-2 to +-3. When time and volume are distributed like so, we can conclude that 1) price being outside fair value is a rare event and 2) the more price is outside fair value, the more anomaly behaviour in volume we tend to find.
Viewing metric calculations
Metric calculation highlights can be enabled from the input menu, resulting in a lot based coloring and visibility of each lot counter (time, cumulative relative volume and average relative volume) in data window:
— Alerts
Available alerts are the following:
Individual
- High crossing deviation band (bands +1 to +3 )
- Low crossing deviation band (bands -1 to -3 )
- Low at threshold band in an uptrend
- High at threshold band in a downtrend
- New uptrend
- New downtrend
Grouped
- New uptrend or downtrend
- Deviation band cross (+1 or -1)
- Deviation band cross (+2 or -2)
- Deviation band cross (+3 or -3)
— Practical guide
Example #1 : Risk on/risk off trend following
Ideal trend stays inside fair value and provides sufficient cool offs between the moves. When this is the case, fair value bands can be used for sensible entry/exit levels within the trend.
Example #2 : Mean reversions
When price shows exuberance into an extreme deviation, followed by a stall and signs of exhaustion (wicks), an opportunity for mean reversion emerges. The higher the deviation, the more volatility in the move, the more signalling of exhaustion, the better.
Example #3 : Tweaking bands for desired behaviour
The faster the length of fair value basis, the more momentum price needs to hit extreme deviation levels, as bands too are moving faster alongside price. Decreasing fair value basis length typically leads to more quick and aggressive deviations and less steady trends outside fair value.
Relative VolumeRelative Volume label in percent. So 400% RVol means, today's volume is 4x compared to avg volume for the length you selected.
Emibap's Uniswap V3 HEX/USDC 3% Liquidity PoolThis script will display a histogram of the Uniswap V3 HEX / USDC 3% liquidity pool.
Similar to what you can see in the liquidity section of the Uniswap pool page but conveniently rendered alongside your chart.
It's meant to be used on any HEX / USDC chart only.
One of the main motivations for using this in your HEX / USDC chart is to get an idea of the current sentiment: If most of the volume is below the price it might be an indication of an upcoming move up, for instance.
I'll try to update the liquidity regularly; if possible several times a day.
Using the 4h, daily, or weekly time frames is highly recommended.
The options are straightforward:
Histogram bars color. Default is blue
Histogram background color. Default is black at 20% opacity
Upper price limit of the diagram: Visible upper bound price limit for the histogram, based on the current price. I.E: 200%: If the price is 1, the histogram will show 3 as the upper bound
Lower price limit of the diagram. Visible lower bound price limit for the histogram, based on the current price. I.E: 99%: If the price is 1, the histogram will show 0. 01 as the upper bound
Width of the widest bar: Width (in bars) for the widest bar of the histogram. The more the higher resolution you'll get
Volume Volatality IndicatorVolume Volatility Indicator
vol: volume; vma: rma of volume
Cyan column shows (vol - vma)/vma, if vol > vma else shows 0
0 value means vol less than vma: good for continuation
0 < value < 1 means vol more than vma: good for trend
value > 1 means vol more than 2 * vma: good for reversal
tr: truerange; atr: averagetruerange
Lime column show -(tr - atr)/atr, if tr > atr else show 0
0 value means tr less than atr: good for continuation
0 > value > -1 means tr more than atr: good for trend
value < -1 means tr more than 2 * atr: good for reversal
Cyan line = 1
Lime line = -1
This indicator shows the volume and truerange together.
Good for filtering trending and consolidating markets.
Thanks for the support.
Volume Price and FundamentalsVolume Price and Fundamentals indicators contains 4 exponential moving averages based upon Fibonnaci numbers as period (8, 21, 55 & 144) with crossovers and crossunders.
It also contain a table for volume and 50 Day Avg. Volume, Relative volume, Change in Volume, Volume Value, Up-Down Closing Basis days in last 50 days, Volume ratio (U/D Ratio) on last 50-day Up / Down days and along with fundamental analysis table with various Fundamental Analysis parameters and QoQ & YoY comparison basis for better investment decision making.
Relative Volume IndicatorA simple indicator showing the relation of volume to highest volume for a define number of bars. Helps to differentiate periods of low and high volume.
Define the number of bars to find the highest volume used as a basis.
Apply a simple moving average to smoothen the volume. Set it to 1 to disable smoothing.
Define a threshold differentiating low and high volume.
Daily Volume, RVol, RRVol, and RS/RW LabelsHeads-up display of essential Real Day Trading criteria
Daily Volume
Relative Strength/Weakness
ATR 14 and ATR 14 percent of price
Relative Volume (RVol)
Relative Volume to SPY RVol (RRVol)
RVol Over Time [vnhilton]I recommend to do the following to give you indicator values at a better glance & for a cleaner chart: 1) Turn off labels on price scale. 2) Turn down opacity for Rvol-O-T down to 0%. 3) Move the indicator to the chart pane or to the volume pane. 4) Pin the indicator to scale A (same scale as the price chart/pane). Now you can only see the RVol-O-T on the top left.
Relative Volume (RVol) is an indicator that compares current volume with Average Daily Volume (ADV) for a set period of time. This can be used to find tickers in play, as those trading with an RVol >1 means it's trading above average volume, which may be worthy of your attention.
This indicator calculates RVol as the day progresses, which may be useful if you have strategies with an intraday criterion e.g. the ticker needs to be trading at Rvol > 2, 30 minutes after the open for stocks (You can see RVol in % or float form).
The chart snapshot image above shows BTCUSDT. Reason for this ticker is because for cryptocurrencies & forex pairs, market data is complete so this indicator can work correctly. If you try this indicator on stocks, indices or futures, you may notice that there's a discrepancy between daily volume candles & the summation of intraday candles (they don't equate each other - huge difference between the 2), causing the indicator to not work as effectively. To solve this problem, you would have to get extra market data from TradingView, or to integrate your broker with TradingView to pass along your broker's data feed (provided your broker also has real-time data - if not you may need to get extra market data via the broker).
Candle Volume (Alender)Candle Volume by Alender is an indicator that changes the color of candles depending on the volume.
If you use VSA (Volume Spread Analysis) - this indicator will allow you to quickly assess the market situation.
For plotting, a moving average by volume for the specified period is used. Volume/Average * 100 - percentage of the current volume from the average.
* If the current volume is less than the average - the candle will be proportionally (0-100%) lighter than red (for bearish candles) or green (for bullish candles). For 0% - the candle is as light as possible.
* If the current volume is greater than the average, the candle will be proportionately (100-400%) darker than red (for bearish candles) or green (for bullish candles). For 400% and more - the candle is as dark as possible.
Volume Value per UnitThis script will plot the result of Volume / Close.
This is meant to normalize the volume of tickers with exponential growth, for example a ticker like $BTC that went from $1 to $50k. Having the volume divided by the close will normalize the volume for when the price was $1 and $50k.
Multi Exchange Relative Volume - FOREXHello traders! This is my first script that I will publish here. This script calculates the relative volume based on the average volume at that time of the day across different brokers.
[2022]Volume Flow v3 with alertsIndicators are an essential part of technical analysis of cryptocurrency. Their main function is to predict market direction based on historic price, cryptocurrency volume and other information. There are several types of crypto indicators illustrating various parameters (trend, volatility, volume, momentum, etc.) but in this article we will look at volume indicators.
Volume indicators demonstrate changing of trading volume over time. This information is very useful as crypto trading volume displays how strong the current trend is. For example, if the price goes up and the volume is high then the trend is strong and will more likely last longer. There are various volume indicators, but we’ll talk about the most popular ones, such as:
On Balance Volume
Accumulation/Distribution Line
Money Flow Index
Chaikin Oscillator
Chaikin Money Flow
Ease of Movement
Effective Volume (Willain)This is the Effective Volume using the Average Separation Method
Excerpt:
The most obvious way to separate Large from Small Effective Volume is to calculate the per-minute average Effective Volume exchanged for all the
minutes of the day where a price inflection was found. The volume above that average is called Large Effective Volume (pg. 67)
Looks at the Close(n) to Close(n-1)/h-c*vol and registers it if its above 30% of total volume.
4C Volume w/ Relative Volume at TimeThis is a Volume indicator that also shows Relative Volume at Time (RVOL).
The RVOL is easily visible as a background color, that changes between Low and High RVOL colors.
The RVOL portion of the indicator is a modified version of the 'Relative Volume At Time' indicator by Tradingview (which has been the best/most accurate RVOL indicator i have seen yet on Tradingview, and seems to closely match the how the "Zanger Volume" indicator works).
Elevated RVOL can be a very important criteria for trading , especially on lower time frames.
This indicator can be used as a simple filter when looking at charts to determine whether it should be traded or not, based on the RVOL.
Higher volume/participation relative to previous time periods can lead to better follow through of moves and price action, and can lead to trending conditions.
Lower RVOL can lead to choppy market conditions, with lower participation and follow through on chart patterns.
The RVOL portion of the indicator draws from the Tradingview 'Relative Volume At Time' indicator developed by authors @e2e4mfck and @LucF , for TradingView.
This indicator takes the Past Volume mark and changes it into a background color.
High RVOL = When the day's cumulative volume is greater than the Past Volume levels, then the background is painted Blue by default
Low RVOL = When the day's cumulative volume is lower than the Past Volume levels, then the background is painted Purple by default
See annotated examples in the chart Below, which compares/contrasts this new indicator with the RVOL indicator by Tradingview:
Portions of the 'Relative Volume At Time' indictor code have been removed to clean up the script.
Plans in the future are to remove more code were possible, to further refine the script and speed up the processing times for the indicator.
If anyone is able to strip out more and keep it functioning the same, please let me know.
Enjoy.
Credit also goes to author @LazyBear . Portions of the Volume indicator is adapted from - HawkEye Volume Indicator
High Volume BarsThis script colors bars whenever their volume has exceeded more than a standard deviation (or multiples of it) from a given amount of bars in the past.
Volume is commonly used as confirmation for a break of a significant level, or as indicative of offside positions when a level fails to be defended. Conviction or Excess, depending on the context.
Volume Surge indicatorThis indicator highlight candles when Volume surge "X" times in compare of last "n" candle.
It helps you to find moments of market which Volatility and Position volumes raise significantly.
In other words, It shows footstep of "Big Banks" or "Whales" or other Giants ;)
- default value highlight candles when Volume is 2 time more than average of last 30 candle. But you can modify both values in your favor.
* You can set Alarm for notifying in advance when Volume surge happened on any chart.
I hope you guys find it helpful and handy
Volume x Price in Crores + RVolScript is designed predominantly for Indian users. Many are used to looking at numbers in lakhs and crores vs millions and billions, this provides a volume figure in rupee crores.
Formula is last close_price x volume / 1 cr or (close_price x volume /10000000). The second figure is the simple moving average (default to 20sma ) again in rupee crores. The third is the relative volume - todays volume / 20 day moving average.
Helpful especially when putting on a trade for a thinly traded stock. It is a quick gauge to how large or small one would want to buy or avoid. Helps manage risk. Also, great to see large volumes in crores to gauge institutional buys or sells.
On 10/NOV/21 - In the chart displayed here, Titan volumes are on average quite substantial as one can see. The 20 day moving average is 550 CR+. 10/NOV volumes are shown as 226 CR and the RVOL is 0.41 (226/550).
Relative Volume (rVol), Better Volume, Average Volume ComparisonThis is the best version of relative volume you can find a claim which is based on the logical soundness of its calculation.
I have amalgamated various volume analysis into one synergistic script. I wasn't going to opensource it. But, as one of the lucky few winners of TradingClue 2. I felt obligated to give something back to the community.
Relative volume traditionally compares current volume to prior bar volume or SMA of volume. This has drawbacks. The question of relative volume is "Volume relative to what?" In the traditional scripts you'll find it displays current volume relative to the last number of bars. But, is that the best way to compare volume. On a daily chart, possibly. On a daily chart this can work because your units of time are uniform. Each day represents a full cycle of volume. However, on an intraday chart? Not so much.
Example: If you have a lookback of 9 on an hourly chart in a 24 hour market, you are then comparing the average volume from Midnight - 9 AM to the 9 AM volume. What do you think you'll find? Well at 9:30 when NY exchanges open the volume should be consistently and predictably higher. But though rVol is high relative to the lookback period, its actually just average or maybe even below average compared to prior NY session opens. But prior NY session opens are not included in the lookback and thus ignored.
This problem is the most visibly noticed when looking at the volume on a CME futures chart or some equivalent. In a 24 hour market, such as crypto, there are website's like skew can show you the volume disparity from time of day. This led me to believe that the traditional rVol calculation was insufficient. A better way to calculate it would be to compare the 9:30 am 30m bar today to the last week's worth of 9:30 am 30m bars. Then I could know whether today's volume at 9:30 am today is high or low based on prior 9:30 am bars. This seems to be a superior method on an intraday basis and is clearly superior in markets with irregular volume
This led me to other problems, such as markets that are open for less than 24 hours and holiday hours on traditional market exchanges. How can I know that the script is accurately looking at the correct prior relevant bars. I've created and/or adapted solutions to all those problems and these calculations and code snippets thus have value that extend beyond this rVol script for other pinecoders.
The Script
This rVol script looks back at the bars of the same time period on the viewing timeframe. So, as we said, the last 9:30 bars. Averages those, then divides the: . The result is a percentage expressed as x.xxx. Thus 1.0 mean current volume is equal to average volume. Below 1.0 is below the average and above 1.0 is above the average.
This information can be viewed on its own. But there are more levels of analysis added to it.
Above the bars are signals that correlate to the "Better Volume Indicator" developed by, I believe, the folks at emini-watch and originally adapted to pinescript by LazyBear. The interpretation of these symbols are in a table on the right of the indicator.
The volume bars can also be colored. The color is defined by the relationship between the average of the rVol outputs and the current volume. The "Average rVol" so to speak. The color coding is also defined by a legend in the table on the right.
These can be researched by you to determine how to best interpret these signals. I originally got these ideas and solid details on how to use the analysis from a fellow out there, PlanTheTrade.
I hope you find some value in the code and in the information that the indicator presents. And I'd like to thank the TradingView team for producing the most innovative and user friendly charting package on the market.
(p.s. Better Volume is provides better information with a longer lookback value than the default imo)
Credit for certain code sections and ideas is due to:
LazyBear - Better Volume
Grimmolf (From GitHub) - Logic for Loop rVol
R4Rocket - The idea for my rVol 1 calculation
And I can't find the guy who had the idea for the multiples of volume to the average. Tag him if you know him
Final Note: I'd like to leave a couple of clues of my own for fellow seekers of trading infamy.
Indicators: indicators are like anemometers (The things that measure windspeed). People talk bad about them all the time because they're "lagging." Well, you can't tell what the windspeed is unless the wind is blowing. anemometers are lagging indicators of wind. But forecasters still rely on them. You would use an indicator, which I would define as a instrument of measure, to tell you the windspeed of the markets. Conversely, when people talk positively about indicators they say "This one is great and this one is terrible." This is like a farmer saying "Shovels are great, but rakes are horrible." There are certain tools that have certain functions and every good tool has a purpose for a specific job. So the next time someone shares their opinion with you about indicators. Just smile and nod, realizing one day they'll learn... hopefully before they go broke.
How to forecast: Prediction is accomplished by analyzing the behavior of instruments of measure to aggregate data (using your anemometer). The data is then assembled into a predictive model based on the measurements observed (a trading system). That predictive model is tested against reality for it's veracity (backtesting). If the model is predictive, you can optimize your decision making by creating parameter sets around the prediction that are synergistic with the implications of the prediction (risk, stop loss, target, scaling, pyramiding etc).
<3
[KL] Relative Volume + ATR StrategyThis strategy will enter into long position when (a) current volume is above the average volume, and when (b) volatility of prices (based on ATR) is relatively low.
Backtested on hourly timeframes, win rates range between 35% to 50% on stocks with positive drifts (i.e. tendency to move upwards). Default setups are as follows:
- Average volume is computed using simple moving average (sma) of 14 periods. By default, 1.4x ratio seems to work well on most large cap stocks. If it's too high, then amount of potential points for entry will decrease. But if it's too low, then this indicator becomes meaningless.
- ATR (for determining volatility), look back period is 14 (following conventions). I have noticed that the profits could change drastically when changed to different values for each individually security. Feel free to experiment around with this parameter.
Other information: This strategy is based off of one of my previous scripts; a script called "Relatively Volume Strategy". The objective of this new script is to simplify the process of determining periods of low volatility. In this new script, we assume prices are consolidating when current ATR is within its moving average value by +/- one standard deviation.
Volume PlusVolume plus provides volume insights to identify increase or decrease in relative volume or sudden volume expansion that exceeds the average. Based on the period selected the script displays the color code.
Features
1. Two different sensitivity levels can be selected for volumes and coloring.
2. Whenever the volume is higher than the selected SMA, volume bars will change color.
3. Can Plot 20 SMA (can be changed)
Volume Average / Current Volume / ATR On ChartSimple Study to display volume data and atr value on the chart. It will display the relative volume in percentage, an average volume and the current volume and ATR value for the time resolution.
Thank you to @PriceCatch for the ATR code
SVA - Simple Volume Analyzer, by BlueJayBird [bjb] ENGLISH & SPANISH
------------------------------------- ENSLIGH
The idea was initially inspired in the concepts shared by @LazyBear on his indicator "Better Volume Indicator" (). But I found it somewhat complicated and dull. So I came up with this.
Concept:
It changes the color of volume bars based on surrounding volume changes.
Volume changes are plotted as volume MAs lines in the volume pane.
Whenever the volume is higher than these MAs, the bar changes color.
For this reason, the bar color change is RELATIVE TO the surroundings, because the color change depends on how far the MA has been extended due to sudden (or not) changes in the volume.
BAR COLORS:
Weak Green and Red: Low volume. The calm before or after the storm.
Normal Green and Red: Mid volume. Still low volume, you may get bored.
Yellow: High volume. Players are playing hard and harder.
White: Ultra-High Volume. The elephants stepped in.
NOTES:
SVA works better at lower timeframes. Though as far as I can tell, it works pretty well as far as 1D timeframe.
------------------------------------- SPANISH
La idea estuvo inicialmente inspirada en los conceptos expuestos por @LazyBear en su indicador "Better Volume Indicator" (). Pero lo encontré un poco complicado y falto de claridad. Así que me inventé este.
Conceptp:
Cambia el color de las barras basándose en los últimos cambios de volumen.
Los cambios de volumen son ploteados como lineas de medias móviles (MAs, es decir "Moving Averages") en la sección del volumen (chart pane).
En cualquier momento que el volumen es mayor que estos MAs, el color de las barras cambia.
Por esta razon, el cambio de color de las barras es RELATIVO a lo que está sucediendo alrededor, ya que el cambio de color depende de qué tan lejos el MA se haya extendido por causa de los últimos cambios (o no) de volumen.
BAR COLORS:
Verde y rojo apagados: Volumen bajo (Low Volume). La calma antes de la tormenta.
Verde y rojo normales: Volumen medio (Mid volume). Volumen todavía bajo. Es posible que te aburras.
Amarillo: Volumen alto (High Volume). Los jugadores están jugando duro.
Blanco: Volumen ultra-alto (Ultra-High Volume). Los elefantes entran a la cancha.
NOTAS:
SVA funciona mejor en temporalidades menores. Pero por lo que he visto, funciona bien hasta la temporalidad de 1D.
[KL] Relative Volume StrategyThis strategy will Long when:
Confirmation #1: when volume is relatively high
Confirmation #2: during periods of price consolidation (See )
It exits when either (a) stop loss limit is reached, or when (b) price actions suggest trend is bearish.
Measuring price volatility to assume consolidation:
For each candlestick, we quantify price volatility by referring to the value of standard deviations (2x) of closing prices over a look-back period of 20 candles. This is exactly what the Bollinger Band (“BOLL”) indicates by default.
Knowing the value of standard deviation (2x) of prices (aka the width of lower/upper BOLL bands), we then compare it with ATR (x2) over a user-defined length (can be configured in settings). Volatility is considered to be low, relatively, when the standard deviation (x2) of prices is less than ATR (2x).
