1. The Devils Volume
The Devils Volume is an extended volume indicator. Besides the usual up/down volume this indicator will show you high volume candles when the volume is 150% or 200% higher than the previous candles. Of course, you can customize the coloring of these high-volume bars to your liking. Optionally the candles on the chart can be highlighted when a high-volume bar occurs
The indicator can also show liquidity zones. These zones or pools are places where a lot of liquidity can be found. We often see price retracing to these zones during a trend in the form of pullbacks.
2. High volume bars based on 3 user-defined standard deviation levels
The indicator will show high volume bars where the volume exceeds one of the 3 user-defined standard deviation bands. You can choose your own colors of course, but these are the default colors:
3. Churn bars
Churn bars happen when there is relatively a lot of volume, but little price movement. Often we see these churn bars happening when price fails to make a new low or high even though a lot of volumes is pushed into it trying to force the new high or low
4. Liquidity zones
The indicator can draw liquidity zones on the chart when there is a lot of volumes put into a single candle. Often these zones are pools are visited and retest later on during a pullback before price can continue to trend higher (or lower)
5. Features
- Shows high volume bars when the volume is above one of the 3 user-defined standard deviation bands
- Draws liquidity zones
- Show up to 3 standard deviation bands
- Show churn bars
- Paint bars
- Any timeframe
- Any market
6. Changelog
01 jun 2022 v1.0.0.4
- Added new option to specify up to 3 standard deviation bands
8. Media