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Volume Strength Spotter

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Product Description

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.

Volume
10

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.
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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 = very strong, 2 = strong, 1 = moderate, 0 = normal

Software Changelog

  • 24 Jan 2025 - The indicator was released (built new).

Product Media

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From very happy customers... 500+ reviews →
  1. product_image Volume Strength Spotter $$
    5 5

    Quick Drawing

    Gave Quick Drawing 5 stars because it is free. If I had to pay I would give it 4 stars. I would like to see more drawing objects, especially objects that indicate a buy or sell and a request for sizing objects (yeh, I know its free but a guy has to ask). Altogether, this is very useful because it is handy.

  2. product_image Volume Strength Spotter $$
    5 5

    Cumulative Delta with excellent Supporter - Grace

    Great Support for Cumulative Delta from Grace.

  3. product_image Volume Strength Spotter $$
    5 5

    A delight to do business

    Volume Profile Thanks Pi for all your help. A very fast and responsive service.

  4. product_image Volume Strength Spotter $$
    5 5

    Great Work!

    I'm using Karthik Dynamic RSI now which I like quite a lot, generally the whole concept of dynamic indicators is very interesting. A quick thank for all the great work you do, I think your indicators are awesome. And thank you for the fact that you provide quite many of them for free as well - great contribution to retail traders :-).

These testimonials may not be representative of the experience of other users or customers and do not guarantee future performance or success.

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