Color Volume Indicator
Color Volume is a user friendly indicator to analyze volume of market assets.
Volume is rarely used by traders who are more focused on price action.
This is a big mistake since volume gives valuable information about market participants.
Volume is very useful to spot reversal zones and is used by all professional traders.
Take advantage of volume analysis to get an edge in the market.
Inputs of the indicator are the following:
- MA_Period: period to be used to calculate mean volume
- MaxVol: level of high volume compared to mean volume
- MinVol: level of low volume compared to mean volume
The indicator shows you with color code zones of high, low and median volumes.
The indicator can be used with any class of assets : Forex, Equities, Commodities, Futures.