TradingView
IldarAkhmetgaleev
Jun 29, 2019 5:17 AM

Colored Volume per Range Bars 

Bitcoin / U.S. dollarBitstamp

Description

Shows relative volume per price range by bar colors.

Release Notes

Use log scale to calculate ranges.

Release Notes

Do not use log on volume.

Release Notes

Go back to linear price difference.

Release Notes

Algorithm rewrite.

Release Notes

Calculate price range by division.
Division works better in daily and weekly timeframes.

Release Notes

Default interval is changed.

Release Notes

Add option to use custom ticker as volume source
Comments
CR_FX
hi there sorry to bother im using your range bar indicator i like it but i'm still have some trouble on how it works can you breifly explain it and how each color works thanks
IldarAkhmetgaleev
@CR_FX, The indicator shows the dependence of effort (volume) and result (volatility). Red means a big effort with a small result, and blue means a small effort with a big result. In key points, usually, a struggle occurs, which is rendered as a large effort (large volume) with a small result (low volatility).
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