I am happy to announce that the indicator I worked on with @leviathancrypto is now live on Tradingview and completely free.
Here is a short thread on how to use it.
/cont https://t.co/mBC3KVJtwNtradingview.com/script/lfbSiHI…
Indicator colours the candles based on three conditions.
High volume, low volume and churn bars.
This is a "simplified" orderflow that I have been using for ages.
It is originally inspired b Emini watch https://t.co/ehuTTsb2caemini-watch.com/free-stuff/vol…
High relative volume tells us a large amount of buying or selling stepping-in wide-body candles.
This is an indication of either end of the move or the start of new trends.
High Volume often shows more of a retail participation as people ape in into wide-body candles. Churn bars also show high volume and signal start/end of moves but inside small body candles.
This means there was a more sophisticated execution to avoid large price changes.
Low-volume candles tell us there is a lack of participation. These are often the "weak spots" and work great as trade targets.
I published an article while ago that dives deeper into relative volume and you can find it here - tradingriot.com/volume-trading…
Although relative volume is a very useful indicator to have, it is not a standalone trading strategy. If you are interested in how I use it in my trading, you can check out the Tradingriot Bootcamp tradingriot.com/blueprint/trad…
Once again, thanks @leviathancrypto for the collaboration and make sure to check out his long list of indicators.
I use many of them and they are one of the best (and completely free) you will find.
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