Volume Grid [SS Premium]

2024년 1월 22일

Hey everyone!

This is the Volume Grid indicator. It is essentially very similar to the Volume Profile Histogram indicator I released, but this premium version overlays on the chart and provides you with the tradeable ranges and the volume composition in each range. So let's get into it!

What it does:
This indicator cumulates buy and sell volume over a user defined lookback period in addition to calculating the average ranges that the stock trades in and the volume composition in each respective range.

It then paints these ranges based on the volume composition. Red means selling and green means buying. However, the brighter the red or green, the higher the buying or selling (essentially a heatmap).

The indicator will also provide you alerts when there are buying or selling volume spikes and circle the candle in which that has happened on (see example in main chart).

These alerts can of course be toggled on or off.

Trading with it:

This indicator can be used as a stand alone trading indicator, and here is how:



The ranges act as support and resistance. Within each range you can see whether the composition is buying or selling.
If we are in a green zone, it means there is buying and it is essentially a buy the dip situation (see below example):



When we are in a heavy selling zone, its essentially a short the rip situation:



You can also see when a zone transfers from a bearish or bullish zone, to the inverse:



The indicator also will plot a POC (point of control). Because we are not only pulling from daily volume data, we will already have a well established POC going into open:



This was SPY on Friday. The POC marked the current point of control from a volume perspective, which was at 482.

And here is what happened:



The POC will change colours between Red and Green, if its a bearish POC it will turn Red, bullish green. For the most part, both the bearish and bullish POCs remain within the same range but sometimes they will diverge and the indicator will alert you when this happens.

Additional options:

In addition to toggling off and on the alerts, you can also change the text colour and size.
As well, there is an option to "Condense Range". What that will do is reduce the range by a factor of 2 (in half). This will give you more aggressive support and resistance levels that you can play.

Condensed Range:



Uncondensed Range:


Personally, I prefer the condensed range, especially when trading leveraged shares, because I treat them as support and resistance levels and play breaks of them in either direction.

And last but not least, you can adjust the ranges to the daily, hourly, monthly or any timeframe you want, you simply select your desired timeframe and it will plot the ranges for that specific period:

SOXL on the week:


The yellow line represents the current period open. It is your reference line and frequently will act as support and resistance, depending on the market sentiment at the time.


That is the indicator in a nut shell, as always, please let me know your questions and suggestions below!
Safe trades and enjoy!

For access, please review the instructions below.

2024년 1월 25일

릴리즈 노트

Updated to include an accessible, two tone only colour palette per request.

2024년 1월 27일

릴리즈 노트

Quick fix on the volume alerts.

2024년 1월 27일

릴리즈 노트

1 Last fix! Volume alerts again.

2024년 9월 25일

릴리즈 노트

Added the ability to select between the Volume Range and an ATR range.