TradeStation

Breakout Volume Can Help Confirm Other Signals

Volume can help confirm signals we might discover using other methods of technical analysis .

This indicator tracks volume intelligently. Its logic spots above-average turnover and then tests against the price change. BrkVol highlights sessions with heavy volume and directional moves. This can help take out the noise and help confirm the trend.

Tesla is a classic example of this, with the stock rallying after showing heavy-volume gains on October 24- 25, December 16 and January 8.
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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