Coloured Bolume Bars - SteynTrade_V2

FX:EURUSD   Euro / U.S. Dollar
Updated version of Colour Volume Bars V2
The colour bars:
Green: Price up - Volume > 2 x STD of last 21 bars
Blue: Price up - Volume > 1 x STD of last 21 bars
Maroon: Price down - Volume > 2 x STD of last 21 bars
Purple: Price down - Volume > 1 x STD of last 21 bars
Grey: not high volume bar
black line: 2 bar sma
Red line: 8 period sma
Blue line: 21 period sma
Bollinger band: 55 period sma with bands 2 deviation from the mean

I use this indicator together with the TDI             and Ichimoku indicators with the same period settings. Together they give price action, sentiment and volume on three time frames.
Thanks I use it with TDI and the Ichimokou all on settings of 8, 21,55 fib numbers. The sma give the change on 3 time frames much like ichimoku for price.
+1 Reply
Gluckmann SteynTrade
I have never learned much about TDI, what kind of information does it provide?
Traders Dynamic Index is basically RSI on the 3 time frames with Bollinger Bands to give the extremes. So you can see the RSI on the TS, KS and SSB time frames at the same time.
+1 Reply
Gluckmann SteynTrade
cool! so blue line on tdi would be ks timeframe, and red one ts? and brown ssb
Yes, So if you make your settings 9,26,52 it would fit the standard Ichimoku settings. For the volume indicator above the principle is the same for the moving averages except that extreme volume bars above the 1 x std of the mean and 2xstd is coloured differently.
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