Volume Contraction and Expansion — Indicator by HyperDive

trendanalysis volumestudies contraction expansion

A simple indicator that shows volume expansion and contraction of a trend through colorization of the candles. It indicates the underlying volume support of a trend. This indicator might come in handy for any Elliott Wave analyst trying to incorporate volume into his analysis.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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