OPEN-SOURCE SCRIPT
Volume Efficiency
This indicator displays each candle's volume in an enhanced visual form, combining the amount of volume with the efficiency of the price movement.
Each volume bar changes its color intensity based on:
Higher efficiency (large price movement with low volume) → stronger color.
Lower efficiency (high volume with little price movement) → weaker color.
Additionally:
Green: Bullish candles (close > open).
Red: Bearish candles (close < open).
The color reflects not only the volume but also how "easily" the price moved.
The efficiency calculation is based on the actual body movement of the candle (abs(close - open)) divided by the total volume, dynamically adjusted to the maximum efficiency over the last N candles (configurable).
Interpretation:
Intensely green or red volume bars: clean and efficient movements (low resistance).
Pale bars: market absorption or indecision (high volume but little price movement).
Configurable parameter:
Efficiency period: number of candles used to normalise the maximum efficiency.
Each volume bar changes its color intensity based on:
Higher efficiency (large price movement with low volume) → stronger color.
Lower efficiency (high volume with little price movement) → weaker color.
Additionally:
Green: Bullish candles (close > open).
Red: Bearish candles (close < open).
The color reflects not only the volume but also how "easily" the price moved.
The efficiency calculation is based on the actual body movement of the candle (abs(close - open)) divided by the total volume, dynamically adjusted to the maximum efficiency over the last N candles (configurable).
Interpretation:
Intensely green or red volume bars: clean and efficient movements (low resistance).
Pale bars: market absorption or indecision (high volume but little price movement).
Configurable parameter:
Efficiency period: number of candles used to normalise the maximum efficiency.
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。