Volume Strength Spotter
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Product Description
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A new approach to Volume analysis
Volume Strength Spotter is the effective solution if you are struggling with false breakouts, unreliable price action, and a lack of clarity in market momentum.
Designed for traders of all levels, it provides a clear lens into market dynamics by analyzing the relationship between price and volume.
Features and potential
✔ Confirm valid price moves: You could stop guessing if a price move is genuine. It compares the current candle volume to the average of previous N candles to reveal if a move is backed by strong buying or selling pressure. This confirmation helps you avoid getting trapped in false rallies or declines.
✔ Quantify volume strength with customizable thresholds: Instead of simply classifying volume as high or low, the indicator allows you to set custom thresholds to define weak, medium, and strong volume. This offers a more detailed view of market activity.
✔ Provide context with neutral volume: It also identifies periods of neutral volume, which can be useful for understanding the overall market context.
✔ Filter out fakeouts: Breakouts are exciting, but many fail. It acts as your filter, identifying breakouts with genuine momentum. A high volume strength ratio on a breakout signals strong participation, increasing the likelihood of a consistent trade. Conversely, a low volume strength ratio warns of a potential fakeout, saving you from costly losses.
Additionally, it visually represents price strength through different dot sizes on the candles:
- A large dot indicates a strong buying/selling momentum.
- A medium dot indicates a moderate buying/selling momentum.
- A small dot indicates a weak buying/selling momentum.
Stop relying solely on price action. Try incorporating Volume Strength Spotter into your trading to see how it complements your existing strategies!
Dedicated NinjaScript Signals
- Signal_State_Volume: 2 = bullish strong, 1 = bullish moderate, -2 = bearish strong, -1 = bearish moderate, 0 = undetermined insignificant, 99 = undetermined significant
- Signal_State: 3 = bullish very strong, 2 = bullish strong, 1 = bullish moderate, -3 = bearish very strong, -2 = bearish strong, -1 = bearish moderate, 0 = normal
Compatibility
- Instruments: futures, stocks, indices
- Interval types: timebased or non-timebased, standard or custom
- Chart styles: whatever
Usability
Ready to use out of the box
Fully configurable & customizable with ease
30 Days ninZa Exchange
If you are not satisfied with an indicator you’ve bought, you may request us to replace it with another indicator of the comparable price for you.
Software Changelog
Feb 04, 2025
Negative values of Signal_State were supported.
Jan 24, 2025
The indicator was released (built new).
Product Media
How to Install?
Step by step guide on how to install the indicators
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Because software products may be copied and stored easily, we will NOT issue refunds of any kind. ALL SALES ARE FINAL & NON-REFUNDABLE!
Futures, foreign currency, and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
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