OPEN-SOURCE SCRIPT

Shadow Compact Volume BETA

已更新

This indicator will give you an overview of the trading volume of 1 candle, useful for new traders (This indicator will be updated more in the future). The current calculation method does not give any any trading signals!If you find it interesting or want to support the development of this indicator ,You can support me a cup of tea via the following link:
paypal.me/paulslim
Enjoy new good days!

版本注释

The "Shadow Compact Volume BETA with Volume and Percentage" indicator enhances volume analysis by focusing on the distribution of volume within the candle's body and wicks. It provides a clearer picture of market dynamics by considering the relative strength of the body versus the wicks, while incorporating volume data to determine the strength of price movements.

Key Updates:
Volume Allocation: The indicator now splits the volume between the body and the wicks of the candle. This helps traders understand where the market is focusing, whether it's on price movement (body) or price rejection (wicks).

Improved Signal Clarity: Only displays signals where the realPowerUp or realPowerDn is greater, minimizing noise and ensuring that only meaningful trends are highlighted.

Effectiveness in Practice:
Accurate Volume Analysis: Helps identify which parts of the candle (body vs. wicks) are driving price action, improving trend confirmation.
Stronger Trend Detection: The indicator highlights stronger trends by focusing on body volume and minimizing the influence of wick volume.
Reduced Noise: Only shows significant signals, improving clarity and reducing false signals.
Conclusion:
This updated version provides a more precise tool for volume analysis, helping traders identify stronger market moves and improve decision-making with clearer trend signals.

This version is short, straightforward, and highlights the key updates and benefits of the indicator. Let me know if you'd like any further adjustments!

版本注释

Update "PeakVolume" to forcus on important zone better.