OPEN-SOURCE SCRIPT
Simple Volume Indicator
Volume is an important indicator in technical analysis because it is used to measure the relative significance of a market move.
The higher the volume during a price move, the more significant the move and the lower the volume during a price move, the less significant the move.
here i made some changes using Significant volume which helps to see the Price moment
Black = Unconsumed Selling
Blue = Exceptional Buying Strength
Yellow = Demand Strength
The Supply–Demand Battle
Think of it like this:
Black bar = supply waiting to be absorbed.
Blue = demand stepping in to absorb supply.
Yellow = Strength of move
If Black dominate without follow-up blue/yellow, price struggles.
If blue/yelow appear after Black, it signals buyers are winning.
The higher the volume during a price move, the more significant the move and the lower the volume during a price move, the less significant the move.
here i made some changes using Significant volume which helps to see the Price moment
Black = Unconsumed Selling
Blue = Exceptional Buying Strength
Yellow = Demand Strength
The Supply–Demand Battle
Think of it like this:
Black bar = supply waiting to be absorbed.
Blue = demand stepping in to absorb supply.
Yellow = Strength of move
If Black dominate without follow-up blue/yellow, price struggles.
If blue/yelow appear after Black, it signals buyers are winning.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.