Absolute Volume Levels [AlgoRich]

This indicator classifies the volume of each candle into three levels—weak, intermediate, and strong—using absolute thresholds. It allows you to define fixed levels for what constitutes low, moderate, or high activity.

Key Features:

Classification by Absolute Thresholds:
The indicator uses two configurable cut-off points:

Intermediate Volume Threshold: The value from which volume is no longer considered weak and is classified as intermediate.
Strong Volume Threshold: The value from which volume is considered strong.
Any volume below the intermediate threshold is classified as weak; volume between the thresholds is classified as intermediate; and volume above the strong threshold is considered strong.
Distinction Between Bullish and Bearish Candles:

Bullish candles are displayed with positive volume (bars pointing upward).
Bearish candles are shown with negative volume (bars pointing downward).
This makes it easier to quickly identify the prevailing direction of volume activity.
Customizable Colors:
You can independently adjust the colors for each volume level for both bullish and bearish candles. This helps to visually highlight unusual volume levels, which can be useful for detecting breakouts or liquidity sweeps.

Benefits of Using This Indicator:

Simplicity and Clarity:
By using absolute thresholds, you eliminate the dependency on moving averages, obtaining a direct measure of volume relative to fixed values. This is particularly useful if you know the typical volume ranges for your asset.

Adaptability:
The thresholds and colors can be easily adjusted to suit different assets and timeframes, allowing you to fine-tune the indicator to your trading style and needs.

Effective Visualization:
The representation of volume bars—differentiated by both direction (bullish or bearish) and intensity (weak, intermediate, or strong)—facilitates the quick identification of changes in market activity, helping you make more informed trading decisions.

This indicator is ideal for traders who want to assess volume in absolute terms and clearly visualize spikes in activity that may indicate trading opportunities or confirm trend changes.