Indicator of the summary volume. It displays the sum of the volume for the specified period of bars. The indicator allows displaying the volume of the market for the selected period of bars in the most flexible and convenient way. All transaction volumes (irrespective of the execution price) are summed up during the period selected in the input parameters, as well as the time period of the selected timeframe and displayed as a histogram in a separate indicator window.
In most cases, the volume indicator is used in conjunction with VSA patterns. In addition, it is recommended to remember the pattern of the volume spike, and also the divergence on volumes as one of the possible signals, i.e. a decrease in volume while the price breaks the peak of a wave with an increased volume.
- VolumePeriod - the period of bars to calculate the indicator values.
- Bars - the number of bars to display the indicator values.