Updated volume indicator by SteynTrade Version2 The colour bars: Green: Price up - Volume > 2 x STD of last 21 bars Blue: Price up - Volume > 1 x STD of last 21 bars Maroon: Price down - Volume > 2 x STD of last 21 bars Purple: Price down - Volume > 1 x STD of last 21 bars Gray: not high volume bar Green line: 2 bar sma Red line: 8 period sma of volume Blue line: 21 period sma of volume Bollinger band: 55 period sma with bands 2 deviation from the mean
I use this indicator with TDI and Ichimoku and together they give a view of price action, sentiment and volume on three time frames.