OrderFlow Volume ZigZag Histogram indicator

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OrderFlow Volume ZigZag Histogram indicator

The cumulative volume zigzag histogram is used in conjunction with the order flow zigzag indicator. Where the order flow zigzag indicator shows the price swings on the chart, the volume zigzag histogram indicator displays the cumulative volume for each price swing below the chart. When a new price-swing pivot (up or down) gets detected the volume wave histogram resets back 0. From that point, it will sum the volume for every bar until the next price swing pivot is detected.

This way we get to see the volume for each price swing. By comparing the amount of volume inside a price swing with the actual price movements and with the previous swings we get clear clues of where the market might be heading. 

One of the signals shown in the volume zigzag histogram is the price/volume divergence. For example, if price makes a higher high with less volume then the divergence gets detected and shown in the histogram. See below for an example

 

 

Features

  • Volume zigzag histogram indicator
    • Shows Cumulative volume / zigzag price swing
    • Shows volume /price divergence

Changelog

v1.0.0.7- 26-may-2022

  • released as a separate indicator

    Terms

    All our indicators and packages come with

    • a one-time fee only
    • lifetime license for 1 pc (we offer 20% discount for 2nd licenses)
    • includes free future updates

    We also offer a 100% free 5-day trial of all our indicators allowing you to test our software before you decide to invest in it. Since you are able to test all our software before buying it all sales are final and non-refundable

     

    DISCLAIMER

    Please note that the market extremes require real-time ^TICK data for the NYSE, DOW, and Nasdaq. This is NOT included in your default data subscription. Please consult your broker on how to get this data. Without this real-time data, this indicator will not work!!

     

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