Holding Volume

The Holding Volume indicator calculates and visualizes the volume that corresponds specifically to the body of each candle, excluding the wicks (the upper and lower shadows of the candle).

This indicator can help traders better understand the strength of price movement during the trading session, as it isolates the volume that occurs when the price is moving within the body of the candle (between the open and close prices).

Key Features:
Volume Calculation: The indicator calculates the holding volume by taking the ratio of the candle's body range to its total range (including the wicks), and then multiplies that by the total volume of the candle.

Main Chart Display: The indicator is designed to be overlaid on the main chart, displaying the holding volume in a style similar to the default volume indicator.
Customizable Label Color: Customize the text color of the volume labels displayed on each candle.

Volume as Columns: The holding volume is shown as columns at the bottom of the chart, similar to the default volume display, for easy comparison and analysis.

How It Helps:
By focusing on the volume within the candle body, this indicator helps you see where the actual price movement and market participation occurred.

It can be useful for identifying candles with strong momentum or distinguishing between significant price movements and those driven by minor fluctuations or wicks.

Ideal Use Case:
Day traders, swing traders, and volume-focused traders can use this indicator to identify trends and analyze the strength of price moves.

This indicator is particularly useful when combined with other technical analysis tools to validate breakouts or reversals, based on the volume within the body of the candles.

Instructions:
No additional setup required: Simply add the indicator to your chart, and it will automatically display the holding volume on the main chart.
Adjust the label text color via the settings to match your chart's theme.