VolumeBasedColorsBars
- Indicatori
- Henrique Magalhaes Lopes
- Versione: 1.0
VolumeBasedColorsBars — Free Powerful Volume Analysis for All Traders
Unlock the hidden story behind every price bar! VolumeBasedColorsBars is a professional-grade, 100% FREE indicator that colorizes your chart candles based on real, adaptive volume analysis. Instantly spot surges in market activity, identify exhaustion, and catch the moves that matter.
This indicator gives you:
• Dynamic color-coded bars for instant volume context
• Adaptive thresholds based on historical, session-aware averages
• Bullish/bearish color separation for clear trend reading
• Works on any symbol, any timeframe, with tick or real volume
• No hidden costs, no limitations—completely free for all users!
Perfect for:
• Day traders, swing traders, and scalpers
• Spotting breakouts, traps, and exhaustion zones
• Enhancing any price action or volume-based strategy
Add professional-grade volume context to your charts—at zero cost!
Technical Description — How VolumeBasedColorsBars Works
VolumeBasedColorsBars analyzes each price bar’s volume relative to a dynamic, session-aware historical mean. It colorizes candles only when volume exceeds user-defined thresholds above the mean, with separate color schemes for bullish and bearish bars.
Key Features:
• Adaptive Historical Mean: For each bar, the indicator calculates the mean volume at the same time in previous days, using a configurable lookback period and a window of bars before/after. This mean excludes the top/bottom values to avoid outlier distortion.
• Multi-Threshold Coloring: Four user-set thresholds (10%, 25%, 50%, 100% above mean by default) trigger progressively brighter colors as volume surges. Each threshold has a unique color for bullish and bearish bars.
• Session-Aware Comparison: Volume is compared to the same bar position within previous days, not just a rolling average, making it robust to intraday seasonality and session effects.
• Bull/Bear Separation: Bullish and bearish bars are colored differently, helping you instantly see the direction of high-volume moves.
• Tick or Real Volume: Works with both tick volume (default) and real volume (if available), selectable by input.
• Weekend Handling: Optionally skip weekends for more accurate analysis on forex/CFD markets.
• Zero Clutter: Only bars with significant volume are colored; others remain invisible, keeping your chart clean and focused.
How to Use:
1. Attach the indicator to any chart and timeframe.
2. Adjust the lookback period, bar window, and thresholds to fit your market and style.
3. Watch for colored bars—these are the moments when volume truly matters!
Why Free?
This tool is provided 100% free to empower all traders with professional-grade volume analysis. No paywalls, no restrictions—just actionable insight for everyone.
Notice:
The profile on right side of the chart is from another amazing indicator from me.
You can get it here for a very sexy price!
Warning – No Warranties or Guarantees:
This indicator is provided “as is” without any warranties, guarantees, or representations regarding its accuracy, reliability, or suitability for any purpose. Trading financial markets involves significant risk of loss, and past performance does not guarantee future results. The creator and distributor of this indicator are not responsible for any losses, damages, or missed profits resulting from its use. Users assume full responsibility for their trading decisions and outcomes. Always use proper risk management and consult with a qualified financial advisor before trading.
