OPEN-SOURCE SCRIPT
Volume candle by Moond
Indicator Description: Equal Volume Candle Chart
This indicator creates a real-time candlestick chart where each candle forms upon the completion of a specific volume threshold, rather than within fixed time intervals. The candles update dynamically based on the total volume traded, providing a unique perspective that incorporates market activity directly into price movements.
Key Features:
Dynamic Candles Based on Volume: Candles form when a defined lot size of volume is reached, making each candle represent consistent trading activity rather than a fixed time period.
Customizable Volume Lot Size: Users can easily adjust the volume threshold to suit different trading styles or asset classes.
Real-Time Market Reflection: The chart responds to changes in market volume, offering a clearer view of market intensity and momentum.
Concept Behind the Indicator: Traditional candlestick charts operate on time intervals, which can ignore the influence of volume in price changes. By basing the candle formation on equal volumes, this indicator integrates both price and traded volume into the visual representation, helping traders capture key shifts in market sentiment and activity that might be missed on time-based charts
This indicator creates a real-time candlestick chart where each candle forms upon the completion of a specific volume threshold, rather than within fixed time intervals. The candles update dynamically based on the total volume traded, providing a unique perspective that incorporates market activity directly into price movements.
Key Features:
Dynamic Candles Based on Volume: Candles form when a defined lot size of volume is reached, making each candle represent consistent trading activity rather than a fixed time period.
Customizable Volume Lot Size: Users can easily adjust the volume threshold to suit different trading styles or asset classes.
Real-Time Market Reflection: The chart responds to changes in market volume, offering a clearer view of market intensity and momentum.
Concept Behind the Indicator: Traditional candlestick charts operate on time intervals, which can ignore the influence of volume in price changes. By basing the candle formation on equal volumes, this indicator integrates both price and traded volume into the visual representation, helping traders capture key shifts in market sentiment and activity that might be missed on time-based charts
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.