INVITE-ONLY SCRIPT
Actualizado RT-Split Volume
Split Volume Introduction
Traditional volume tools only show you the data for the candle that won. This leaves traders in the dark about the real balance of buying and selling behind each bar. Often a candle close is a photo finish between the bulls and bears, and other times it is a one sided fight.
The Split Volume Indicator looks at both sides of the flow and identifies which volume candles have been flagged as anomalies compared with the surrounding volume bars. This indicator helps reduce the guesswork around when larger participants may be entering or exiting a position.
Traditional Volume vs Split Volume
While volume is one of the most important signals a trader should watch, traditional volume indicators only show you the one side that won that candle. Only looking at one side of the story puts the trader at a disadvantage. Sometimes the battle between the bears and bulls is a photo finish, and sometimes it is hardly a battle at all. The Split Volume Indicator allows you to get a better picture of what is actually happening in the underlying order flow.
Breaking Down The Split Volume Tool
The Split Volume Indicator uses an algorithm to estimate the buy and sell volume for each candle. All of the buy volume is placed on the upper half of the indicator, while all of the sell volume is placed on the lower half of the indicator. As the bulls and bears trade back and forth on each candle, the algorithm calculates a baseline average of the volume that is being traded. This average baseline is shown by the gray Ghost Line. Abnormal spikes of volume that exceed the Ghost Line are color coded with either blue (bullish) or yellow (bearish) candles.
Volume Candle Types
- Green volume candles - Normal buying volume.
- Blue volume candles - Abnormal buying volume.
- Red volume candles - Normal selling volume.
- Yellow volume candles - Abnormal selling volume.
Volume Impulses
One key item to look for with Split Volume is volume impulses. These are sometimes overlooked with standard volume indicators but are heavily highlighted when using Split Volume.
Settings
Volume in USD toggle On/Off - Allows the trader to switch between volume being displayed in USD or in the number of stocks or tokens being bought and sold. This change will be reflected on the Y axis of the indicator.
Volume smoother - Changes the smoothness setting of the Ghost Line. This allows the trader to level out the Ghost Line as they see fit.
Volume displacement shifter - Changes the vertical height of the Ghost Line. This allows the trader to adjust where they would like to see the blue and yellow volume candles start to trigger.
If you have any questions, feel free to leave a comment.
🐋 Tight lines and happy trading!
Traditional volume tools only show you the data for the candle that won. This leaves traders in the dark about the real balance of buying and selling behind each bar. Often a candle close is a photo finish between the bulls and bears, and other times it is a one sided fight.
The Split Volume Indicator looks at both sides of the flow and identifies which volume candles have been flagged as anomalies compared with the surrounding volume bars. This indicator helps reduce the guesswork around when larger participants may be entering or exiting a position.
Traditional Volume vs Split Volume
While volume is one of the most important signals a trader should watch, traditional volume indicators only show you the one side that won that candle. Only looking at one side of the story puts the trader at a disadvantage. Sometimes the battle between the bears and bulls is a photo finish, and sometimes it is hardly a battle at all. The Split Volume Indicator allows you to get a better picture of what is actually happening in the underlying order flow.
Breaking Down The Split Volume Tool
The Split Volume Indicator uses an algorithm to estimate the buy and sell volume for each candle. All of the buy volume is placed on the upper half of the indicator, while all of the sell volume is placed on the lower half of the indicator. As the bulls and bears trade back and forth on each candle, the algorithm calculates a baseline average of the volume that is being traded. This average baseline is shown by the gray Ghost Line. Abnormal spikes of volume that exceed the Ghost Line are color coded with either blue (bullish) or yellow (bearish) candles.
Volume Candle Types
- Green volume candles - Normal buying volume.
- Blue volume candles - Abnormal buying volume.
- Red volume candles - Normal selling volume.
- Yellow volume candles - Abnormal selling volume.
Volume Impulses
One key item to look for with Split Volume is volume impulses. These are sometimes overlooked with standard volume indicators but are heavily highlighted when using Split Volume.
Settings
Volume in USD toggle On/Off - Allows the trader to switch between volume being displayed in USD or in the number of stocks or tokens being bought and sold. This change will be reflected on the Y axis of the indicator.
Volume smoother - Changes the smoothness setting of the Ghost Line. This allows the trader to level out the Ghost Line as they see fit.
Volume displacement shifter - Changes the vertical height of the Ghost Line. This allows the trader to adjust where they would like to see the blue and yellow volume candles start to trigger.
If you have any questions, feel free to leave a comment.
🐋 Tight lines and happy trading!
Notas de prensa
Cleaned up syntax and updated screenshot of chart for the header.Script que requiere invitación
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact RainbowRunner144 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Instrucciones del autor
Once your subscription is active, you will find the script under Indicators → Invite only scripts in your TradingView account.
For questions about how it works, please refer to the description page and leave a comment if you have any questions.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script que requiere invitación
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact RainbowRunner144 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Instrucciones del autor
Once your subscription is active, you will find the script under Indicators → Invite only scripts in your TradingView account.
For questions about how it works, please refer to the description page and leave a comment if you have any questions.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.