Technical Studies Reference


Large Volume Trade Indicator

The Large Volume Trade Indicator indicates on the chart using color-coded rectangle markers, color-coded rectangles with volume text, or circle markers, trades that are greater than a certain volume threshold.

There are several drawing modes to choose from to display these various types of markers. These markers can also be automatically sized based on their volume relative to the volume of the other markers. The larger the marker, the larger the volume relative to other volume markers on the visible chart bars. The smaller the marker, the smaller the volume relative to other volume markers on the visible chart bars.

When the study is first added to the chart or when the Volume Threshold Input setting is changed, the chart will be reloaded in order to maintain the necessary underlying data the study requires.

Only one instance of the Large Volume Trade Indicator study can be added to the chart. If there are different instances of this study added to the chart and they use different Volume Threshold Input settings, then this will cause the chart to continue to reload continuously. In this case, remove all but one instance of the study from the chart. If you want to use different Volume Threshold Input settings, you need to open a separate chart and add the study to that chart with the Volume Threshold that you want to use.

Inputs

  • Volume Threshold: This Input specifies the volume that a trade needs to be greater than or equal to for it to be considered a large volume trade and have a marker displayed for it at the chart bar and price level where the trade occurred.
  • Draw Mode: This can be set to one of the following:
    • Marker Based On Total Volume Above Threshold: This will draw a rectangle marker, at the price level beside the chart bar where there is one or more trades which equal or exceed the Volume Threshold Input setting. The color shading is going to be based upon the total volume of all of those trades.
    • Marker Based On Max Volume Above Threshold: This will draw a rectangle marker, at the price level beside the chart bar where there is one or more trades which equal or exceed the Volume Threshold Input setting. The color shading is going to be based upon the maximum volume of a trade among those individual trades.
    • Marker With Total Volume Above Threshold Text: This will draw color-coded number text at the price level beside the chart bar where there is one or more trades which equal or exceed the Volume Threshold Input setting. The number text displays the total volume of all of the trades which exceed the Volume Threshold. The color shading is going to be based upon the total volume of all of those trades.
    • Marker With Max Volume Above Threshold Text: This will draw color-coded number text at the price level beside the chart bar where there is one or more trades which equal or exceed the Volume Threshold Input setting. The number text displays the maximum volume of a trade among those individual trades. The color shading is also based upon the maximum volume of a trade among those individual trades.
    • Circle Based On Total Volume Above Threshold: This will draw a circle marker at the price level on the chart bar where there is one or more trades which equal or exceed the Volume Threshold Input setting. The color shading is going to be based upon the total volume of all of those trades.
    • Circle Based On Max Volume Above Threshold: This will draw a circle marker at the price level on the chart bar where there is one or more trades which equal or exceed the Volume Threshold Input setting. The color shading is going to be based upon the maximum volume of a trade among those individual trades.
  • Bid Dominant Color Range Minimum: This sets the color of the marker with the lowest volume among the visible markers for volume which is considered Bid dominant. Bid dominant means there is more Bid Trade Volume than Ask Trade Volume at the price level for trades above the Volume Threshold. The Bid dominant volumes are colored from this color to the Bid Dominant Color Range Maximum color based upon their volume within the overall range of volumes which have markers for the currently displayed chart bars.
  • Bid Dominant Color Range Maximum: This sets the color of the marker with the highest volume among the visible markers for volume which is considered Bid dominant. Bid dominant means there is more Bid Trade Volume than Ask Trade Volume at the price level for trades at or above the Volume Threshold. The Bid dominant volumes are colored from the Bid Dominant Color Range Minimum color to the Bid Dominant Color Range Maximum color based upon their volume within the overall range of volumes which have markers for the currently displayed chart bars.
  • Ask Dominant Color Range Minimum: This sets the color of the marker with the lowest volume among the visible markers for volume which is considered Ask dominant. Ask dominant means there is more Ask Trade Volume than Bid Trade Volume at the price level for trades at or above the Volume Threshold. The Ask dominant volumes are colored from this color to the Ask Dominant Color Range Maximum color based upon their volume within the overall range of volumes which have markers for the currently displayed chart bars.
  • Ask Dominant Color Range Maximum: This sets the color of the marker with the highest volume among the visible markers for volume which is considered Ask dominant. Ask dominant means there is more Ask Trade Volume than Bid Trade Volume at the price level for trades at or above the Volume Threshold. The ask dominant volumes are colored from the Ask Dominant Color Range Minimum color to the Ask Dominant Color Range Maximum color based upon their volume within the overall range of volumes which have markers for the currently displayed chart bars.
  • Indicator Size: When Automatic Indicator Size is set to No, then this Input sets the size of the markers in pixels when the Draw Mode does not display volume text.
  • Text Size: When the Draw Mode is set to include the volume text, this Input sets the text size in font Points.
  • Automatic Indicator Size: When this Input is set to Yes, the markers displayed on the chart indicating large volume trades at a price level are automatically sized based on the volume. A marker will be larger for higher volumes and smaller for smaller volumes. The sizing is based upon the visible markers for the visible chart bars only. This can have the result of the marker sizes changing as the chart is scrolled.
  • Maximum Automatic Indicator Size: When Automatic Indicator Size is set to Yes, then this Input indicates the maximum size for the markers in pixels.
  • Use Transparent Draw Style: When this Input is set to Yes, then the rectangle and circle markers use transparency. The level of the transparency is set through the Transparency Level for Fill Styles setting on the Subgraphs tab of the Study Settings window for the study.
  • Marker Color/Size Based On: The choices for the setting are All Loaded Chart Bars or Visible Bars Only. When this is set to All Loaded Chart Bars, then the marker coloring and sizing is based upon the maximum and minimum volumes throughout all chart bars loaded. This produces a very stable result for coloring and sizing of the markers. When this is set to Visible Bars Only, then the marker coloring and sizing is based upon the maximum and minimum volumes for the visible chart bars only.
  • Percentage above Median for Maximum Volume in Chart: This Input only applies when Marker Color/Size Based On is set to All Loaded Chart Bars. In this particular case, the median volume among all of the chart bars is determined. This volume can either be the total volume at a price level for a chart bar, or the maximum volume at a price level for a chart bar. Once this median is calculated, 50 percent above the median, is the maximum volume for the chart. 50 percent below the median is the minimum volume for the chart. This Input controls the percentage above the median for what is considered the maximum volume for coloring and sizing the markers. For example, if you want 40 percent above the median to be considered the maximum volume, then set this to 40. The range for this setting is 1 to 50 percent.
  • Percentage above Median for Minimum Volume in Chart: This Input only applies when Marker Color/Size Based On is set to All Loaded Chart Bars. In this particular case, the median volume among all of the chart bars is determined. This volume can either be the total volume at a price level for a chart bar, or the maximum volume at a price level for a chart bar. Once this median is calculated, 50 percent above the median, is the maximum volume for the chart. 50 percent below the median is the minimum volume for the chart. This Input controls the percentage below the median for what is considered the minimum volume for coloring and sizing the markers. For example, if you want 40 percent below the median to be considered the minimum volume, then set this to 40. The range for this setting is 1 to 50 percent.

*Last modified Friday, 08th December, 2017.