Overview

The Quantum Tick Volumes indicator has been designed to help you apply volume price analysis quickly and easily in all timeframes. The indicator takes the broker tick feed and paints the volume bar to match the price action. Where the price has closed higher, the volume bar is painted blue, and where it has closed lower, it is painted red. The indicator also displays a horizontal dotted line that marks half of the highest volume bar during each day. This helps to determine whether volume being displayed is very high, high, average or low, and to judge this against the price action accordingly.

  • The Quantum Tick Volumes indicator works in all timeframes.
  • For clarity, we find it is best applied to the bottom of the chart with the Quantum Trend Monitor immediately above

Format

By clicking the indicator’s Format button, you can configure the Quantum Tick Volumes Indicator’s style according to your preferences. The Format button appears as a small cog/gear icon beside the name of the indicator at the chart. Clicking the button shows a dialog box for configuring the Style options.

Style

TradingView allows you to customize the indicator’s appearance by changing the properties of each of its plots/lines.

Intraday Mid-line

This line marks half of the highest volume bar within each day.

  • Visible by default, you can untick the checkbox beside its name to hide this line in the chart.
  • Color is set to light blue. You can click the color box to choose another color from a palette.
  • Thickness is set to 1. Slide the knob to the right to increase the line’s thickness.
  • Type of plot is set to Line. It is best not to change this setting.
  • The last option allows you to display a horizontal line that helps you track its current level in the chart. Tick the Price Line checkbox to enable this feature.

Volume

This shows the amount of volume for each bar.

  • Visible by default, you can untick the checkbox beside its name to hide this line in the chart.
  • Color 0 is set to blue which is the default color of bullish volume bars. A volume bar is bullish when its corresponding candlestick is also bullish. You can click the color box to choose another color from a palette.
    • Thickness is set to 1. Slide the knob to the right to increase the bar’s thickness.
  • Color 1 is set to red which is the default color of bearish volume bars. A volume bar is bearish when its corresponding candlestick is also bearish. You can click the color box to choose another color from a palette.
    • Thickness is set to 1. Slide the knob to the right to increase the bar’s thickness.
  • Type of plot is set to Columns. Please don’t change this setting.
  • The last option allows you to display a horizontal line that helps you track its current level in the chart. Tick the Price Line checkbox to enable this feature.

Precision

This determines the number of decimal places the indicator uses to display the current value of its lines. You can adjust this by choosing from a drop-down list.

Scale

You can choose either Pin to Right or Pin to Left.

  • Pin to Right is the default option. This displays the indicator labels at the right-hand side of the indicator.
  • Pin to Left displays the indicator labels at the left-hand side of the indicator.