Using Settings

Clicking on the indicator's settings icon will open its configuration window, within which you can make several choices regarding the functionality of the indicator itself.

Data Setting

Input data 

Defines which database to use for calculating the indicator. You can choose from:

• Volume: Measures the amount of volume exchanged. This is the total quantity of contracts or shares traded.
• Order: Returns the number of orders placed. Useful for understanding market participation levels.
• Aggregate Trade: Tracks the number of trades executed. Shows trading frequency independent of volume size.

Filter Min

Allows you to apply a minimum filter to the chosen database. Only data above this threshold will be displayed.

Filter Max

Allows you to apply a maximum filter to the chosen database. If the value 0 is left, the indicator will not apply any maximum filter.

Calculation Settings

Calculation Based on Seconds

If enabled, it allows volume to be calculated based on seconds. This option is particularly useful in range graphs to highlight any accelerations or decelerations in trading speed.

Number of Seconds

Defines the number of seconds to apply to the calculation of the indicator. For example, a setting of 5 seconds would show volume acceleration/deceleration within 5-second intervals.

Plot Settings

Minimum Tot Volume

Defines the minimum total volume to be displayed. Bars below this threshold will not be shown, helping focus on significant volume activity.

Background Mode

Defines the mode with which to color the background of the volume histogram. You can choose from:

• None: Fixed background color based on the colors defined in Series (Bull Border and Bull Fill).
• Fade: Fading background color according to the colors defined in Series, creating a gradient effect.
• Delta Fading: Background color fades based on delta value, showing strength of buying or selling pressure.
• Delta Range: Background color according to user-defined delta range. The border takes the color of the delta peak reached.
• Volume Slope: Colors background according to volume variation. Increasing volume from previous bar shows Bull Border color; decreasing shows Bear Border color.
• Price Slope: Colors background according to price variation, connecting volume to price movement direction.

Delta Input Data 

Defines the database for delta calculation. You can choose from:

• Volume: Delta calculated from volume data
• Trade: Delta calculated from trade count data

Delta Range

Opens settings to customize the delta colorimetry based on a range of user-defined values. Allows precise control over how different delta ranges are colored.

Neutral Color

Defines the neutral background color, used when delta is near zero or in neutral conditions.

Text Settings

Allows you to change the size and color of text displayed on the volume histogram.

Marker (Setting, Color And Alert)

Allows you to enable graphical markers when certain conditions are met, helping identify bars with significant volume or delta behavior:

• Volume Max: Defines the maximum minimum volumes that the bar has reached. Marks bars exceeding this threshold.
• Diff. Vol: Defines the difference in volume from the maximum peak reached. This setting is useful if you are using seconds-based volume calculations, allowing you to view any volume pullbacks or retracements.
• Max. Delta: Defines the maximum delta that the bar has reached in absolute value. Marks bars with significant buy/sell imbalance.
• Diff. Delta: Defines the difference in delta from the maximum peak reached. Useful for identifying delta absorption or reversals.

Total Delta Absorption

If enabled, it highlights only those bars that reach the specified maximum peak and then close with delta of the opposite sign. This indicates a complete reversal from strong buying/selling to the opposite, signaling potential reversals.

Calculation on Close

If enabled, the marker will only activate on bar closure. If disabled, the marker may activate with the bar in progress and then deactivate if the volume and delta conditions no longer meet the established criteria.

Marker Color

Defines the color of the marker, differentiating between absorptions in Bid (sellers overpower) and absorptions in Ask (buyers overpower), as well as its opacity.

Marker Alert

Enables an audible notification and a popup message when marker conditions are met, alerting you to significant volume or delta events.

Average Volume

Enables an average line for volume and defines the number of days for its calculation. This helps identify whether current volume is above or below the typical average, providing context for volume interpretation.

Practical Application

The Volume indicator is most effective when used for:

• Confirming Price Moves: High volume on breakouts confirms strong conviction behind the move, while low volume suggests weakness.
• Identifying Absorption: Using delta absorption markers helps identify when strong moves are being absorbed, signaling potential reversals.
• Detecting Volume Acceleration: Seconds-based volume calculation reveals intrabar acceleration/deceleration, signaling momentum changes.
• Analyzing Delta Imbalance: Delta background modes help visualize buy vs sell pressure, essential for orderflow trading.
• Supporting Entries and Exits: Significant volume with favorable delta provides confirmation for trade entries and exits.