What it does
Volume shows the total number of shares or contracts traded during each bar, drawn as a histogram below the price chart. Each column is simply the sum of all trades executed in that bar's time window, usually colored green when the bar closed up and red when it closed down. Many charts also overlay a moving average of volume so you can see when activity is above or below normal.
Typedraws on the price chart
How to add it
Click Indicators (ƒx) in the header.
Search “Volume” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Confirm breakouts: a move through support or resistance on volume well above its average (say 1.5 to 2 times the 20-bar average) is far more trustworthy than one on thin volume.
- Spot exhaustion: a sharp price extension on a huge volume spike after a long trend often marks a climax and a possible reversal zone.
- Watch for divergence: if price keeps making new highs while volume shrinks on each push, buying interest is fading and the trend is vulnerable.
- Use low volume to judge pullbacks: a retracement on shrinking volume suggests profit taking rather than a trend change, favoring trend-continuation entries.
- Compare the same session times on intraday charts, since volume naturally peaks near the open and close and fades midday.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Symbol | symbol | — | — |
| MA Length | number | 20 | 1–2000 |
| Volume MA | select | SMA | SMA / EMA / WMA |
| Color based on previous close | boolean | Off | — |
| Smoothing Line | select | SMA | SMA / EMA / WMA |
| Smoothing Length | number | 9 | 1–10000 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Volume | columns | #000080 |
| Growing | columns | #22AB94 |
| Falling | columns | #F7525F |
| Volume MA | line | #2196F3 |
| Smoothed MA | line | #2196F3 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 0 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Right-click the indicator's line for quick actions — settings, visibility and removal without hunting through menus.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- The legend eye toggles it off without losing your settings — handy for before/after comparisons.
- This indicator accepts another symbol — leave it empty to use the chart's own symbol.
Watch out for
- Volume tells you participation, not direction; heavy volume can accompany both accumulation and distribution, so it should always be read alongside price action.
- Reported volume differs across venues and instruments, and for some markets (spot forex, many CFDs) it is only tick count, not true traded size.