Better Volume Bar Chart

v10.3
Better Volume Bar Chart

Volume has to be the most underrated market variable used in technical analysis. But if you know how to analyze and interpret it, you’ll be able to see market turning points develop and anticipate pullbacks and trend changes.

You can figure out whether the Professionals are buying or selling by analyzing:

  • Volume transacted at the bid or the ask
  • High to low range of the bar, and
  • Average trade size.

The best bar chart indicator applies directly to the price window. If you prefer traditional candlesticks, simply change the name “DRAWBARCHART” in the code to “DRAWCANDLE”.

  1. Volume Climax Up – high volume, high range, up bars (red)
  2. Volume Climax Down – high volume, high range, down bars (white)
  3. High Volume Churn – high volume, low range bars (green, PaintBar blue)
  4. Low Volume – low volume bars (yellow)
  5. Volume Climax plus High Volume Churn – both the above conditions (magenta)

Source :

  • original code and credits from (description taken from http://emini-watch.com/free-stuff/volume-indicator/)
  • https://www.prorealcode.com/prorealtime-indicators/better-volume/

Thanks to Nicolas for this site.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Mert • 217 days ago #

    Hello. It seems that when I reload the chart the candles are looking different than before. Is there a reason for that? Thanks and regards.

  2. Alai-n • 216 days ago #

    I also have the same problem that I can not solve especially on LowVolume (Yellow) … Sorry

  3. Mert • 216 days ago #

    No need to apologise, my friend. It is great code. I hope you find a solution soon. Regards.

  4. gabri • 197 days ago #

    I think it’s because the lookback period changes at every new bar and that means that many conditions are revised at every bar as well.

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