The VoluMeter Indicator is designed by MyIndicators to give traders an intuitive understanding of volume strength in relation to recent averages, using dynamic color coding to indicate relative volume intensity. By comparing each bar’s volume to a moving average, VoluMeter provides visual feedback on whether volume is significantly higher, lower, or near the average. This color-coded histogram allows traders to quickly gauge volume surges or declines, making it a valuable tool for assessing buying or selling pressure.
Why VoluMeter highlights key volume insights
VoluMeter calculates the percentage difference between current volume and an average over a user-defined period, making it easy to spot unusual trading activity. Each bar is color-coded according to its relative intensity, with shades indicating whether volume is above, below, or near the average level. This approach gives traders a quick, visual representation of volume trends, helping them identify moments when interest in an asset spikes or wanes, which can be critical for timing entries and exits.
Key features of VoluMeter Indicator
Why Choose VoluMeter for ThinkOrSwim?
The VoluMeter Indicator by MyIndicators is ideal for traders looking to boost their understanding of volume patterns without complex setups. With its intuitive color coding and easy-to-read histogram, VoluMeter helps traders quickly assess volume surges or drops, aiding in spotting breakout or breakdown potential. Whether used for day trading or swing trading, VoluMeter offers a straightforward way to incorporate volume insights into your strategy.
Download the VoluMeter Indicator today and add a powerful tool for analyzing volume strength relative to recent trends.
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