Volume Candles

Volume Candles — Context-Aware Candle Color

Description:

This visual indicator colors your price candles based on relative volume intensity, helping traders instantly detect low, medium, and high volume activity at a glance. It supports two modes — Percentile Ranking and Volume Average — offering flexible interpretation of volume pressure across all timeframes.

It uses a 3-tiered color system (bright, medium, dark) with customizable tones for both bullish and bearish candles.

How It Works:

You can choose between two modes for volume classification:

Ranking Mode (Default):

Measures current volume’s percentile rank over a lookback period. Higher percentiles = stronger color intensity.

Percentile thresholds:

< 50% → light color (low volume)
50–80% → medium intensity
> 80% → high volume

Volume Average Mode:

Compares current volume against its simple moving average (SMA).

Volume thresholds:

< 0.5× SMA → light color
Between 0.5× and 1.5× → medium
> 1.5× → high intensity

Candle Paint:

Candles are colored directly on the chart, not in a separate pane. Bullish candles use green shades, bearish use red. All colors are fully customizable.

How to Interpret:

Bright Colors = High volume (potential strength or climax)
Muted/Transparent Colors = Low or average volume (consolidation, traps)

Example Use Cases:

Spot fakeouts with large price movement on weak volume (dark color)
Confirm breakout strength with bright candles
Identify stealth accumulation/distribution

Inputs & Settings:

Mode: Ranking Percentile or Volume Average
Lookback Period for ranking and SMA
Custom Colors for bullish and bearish candles at 3 intensity levels

Best For:

Price action traders wanting context behind each candle
Scalpers and intraday traders needing real-time volume feedback
Anyone using volume as a filter for entries or breakouts

Pro Tips:

Combine with Price Action, Bollinger Bands or VWAP/EMA levels to confirm breakout validity and intent behind a move.
Use alongside RSI/MACD divergences for high-volume reversal signals.
For swing trading, expand the lookback period to better normalize volume over longer trends.

リリースノート

< 50% → light color (low volume)
50–80% → medium intensity
> 80% → high volume

Volume Average Mode:

Compares current volume against its simple moving average (SMA).

Volume thresholds:

< 0.5× SMA → light color
Between 0.5× and 1.5× → medium
> 1.5× → high intensity

Candle Paint:

Candles are colored directly on the chart, not in a separate pane. Bullish candles use green shades, bearish use red. All colors are fully customizable.

How to Interpret:

Bright Colors = High volume (potential strength or climax)
Muted/Transparent Colors = Low or average volume (consolidation, traps)

Example Use Cases:

Spot fakeouts with large price movement on weak volume (dark color)
Confirm breakout strength with bright candles
Identify stealth accumulation/distribution

Inputs & Settings:

Mode: Ranking Percentile or Volume Average
Lookback Period for ranking and SMA
Custom Colors for bullish and bearish candles at 3 intensity levels

Best For:

Price action traders wanting context behind each candle
Scalpers and intraday traders needing real-time volume feedback
Anyone using volume as a filter for entries or breakouts

Pro Tips:

Combine with Price Action, Bollinger Bands or VWAP/EMA levels to confirm breakout validity and intent behind a move.
Use alongside RSI/MACD divergences for high-volume reversal signals.
For swing trading, expand the lookback period to better normalize volume over longer trends.

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alexrainman

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alexrainman