Volume IQ

4 déc.

Overview
Volume IQ is meant to be the ‘intelligent volume distribution analyzer’ that takes much of the work of interpreting volume profiles off of your shoulders. It attempts to ‘do the technical analysis’ of volume data for you, with its capstone feature being "Trading Action Zones": ranges on the chart whose placement are determined by high and low volume nodes and sentiment analysis, and their adapting range affected by current volatility. These zones are meant to offer practical levels for potential entries, exits, targets, and stops while trading. These zones are the cherry on top of other useful and original features like visuals for grouping areas of similar buy/sell bias.

Originality and Usefulness
Volume IQ stands out for its originality by offering a data-driven approach to interpreting volume profiles and presenting its analysis on the chart. Unlike traditional volume profiles, Volume IQ automates much of the volume analysis process, helping traders identify potential opportunities and key trading areas with minimal effort. Its unique "Trading Action Zones" leverage high and low volume nodes, sentiment analysis, and current volatility to highlight practical levels for entries, exits, targets, and stops. Additionally, the tool provides grouped bias visuals, gradient coloring, and flexible customization options, allowing traders to gain a clearer understanding of market sentiment and structure. By simplifying complex volume data into actionable insights, Volume IQ provides a valuable and efficient resource for charting on TradingView.

The ‘Capstone’ Feature:
Trading ‘Action Zones’: Potential areas to take trading action based on built-in interpretations of high-volume nodes, low-volume nodes, and overarching chart sentiment (whose calculation is described below), and their interplay. Categorized by tiers - with Tier 2 zones intended as potential entry areas, and Tier 1 zones for exits or adds. These zones can also present logical areas to consider targets and stops, for example placing a stop loss in a Tier 1 sell zone below price where there is a series of low-volume nodes and potentially not much support. These zones help you quickly identify potential areas on the chart to ‘take action’.

Key Features:

• Level and Block Biases: By estimating buying and selling volume, as well as leveraging intrabar data, the Volume IQ profile provides detailed buy/sell sentiment at individual price levels. It then groups together consecutive price levels with the same bias into what we call ‘Block Biases’ making it easy to determine larger price areas with distinct buying or selling pressure.
  
  
• Chart Sentiment Analysis: A ‘continuously optimizing algorithm’ configured to find high average runups after a sentiment switch powers what we call ‘bias guidelines’ which border the Volume IQ profile and influence the determination of Action Zones. This algorithm is based on comparing many combinations of volume-weighted trends, largely based on smoothed volume weighted moving averages, on each bar, to ensure that the approach with the highest average runup amongst the combinations is used.
  
  
• Zones of Control: A gradient-coloring approach to the profile highlighst areas of influence at a glance, making it easier to focus on key price levels.
  
  
• Broad Compatibility: Works across all chart timeframes and market types - so long as volume data and OHLC candle data is available.
  
  
• Highly Customizable: Configure features to align with your trading preferences and workflow. Show them all, or pick and choose the ones you want.
  

Settings

• Use a Color Theme: Toggle between our predefined color themes or customize your own.
  Style: Select your preferred color theme (e.g., "TI Fusion").
  
• Colors (When Not Using a Theme): Customize primary, secondary, and background colors for your own non-theme styling.
  
• Gradient Coloring: Enable or disable gradient shading of the profile for visual enhancement of zones with high control and low control.
  
  
• Action Zones: Turn trading action zones on or off to highlight key trading levels.
  
• Time Staggering: Enabling this option will simply ‘stagger’ the display of action zones horizontally. Zones closer to price will be placed leftwards, and as they become more distant from price, they will be ‘staggered out’ rightwards, to give an intuitive feel for the time it may take for price to reach these zones.
  
• Tier Labels: Enable or disable the ‘tier labels’ (1 square for Tier 1, 2 squares for Tier 2) for action zones.
  
  
• Bias Blocks: Toggle the display of grouped buy/sell bias blocks.
  
• Extend: Choose how the bias blocks are displayed: “Left” to stretch them from the end to the beginning of the histogram, “Right” to extend from the end outwards, and “Across” to extend from the beginning to outwards past the end, enveloping the bias and volume count labels.
  
• Opacity: Adjust the transparency level of bias blocks (0–100).
  
• Level Bias Labels: Turn on/off labels for individual price level biases.
  
• Bias Guidelines: Enable the visual guidelines for bias levels which border the profile.
  
  
• Volume Counts: Toggle volume count labels for each of the profile’s price levels.
  
• Split Buy/Sell Volume: Enable separate display of buy and sell volume for each level (buy volume on the left, sell volume on the right).
  
• Font Size: Adjust the font size for these labels.
  
  
• Histogram Display: Choose the display option for the histogram bars of the profile themselves: "Full View" will display the profile, and “None” will hide it.
  
• BG Shading Logic: Adjust the background shading logic for the display: “Neutral” will use the ‘Neutral Color’ from your color theme to put some emphasis around high and low volume nodes, while “None” will remove any background shading.
  
  
• Detail: This option allows you to set the granularity of the volume data used: “Bar Data” will simply use the bar data from the chart timeframe, while “Intrabar Data” will attempt to use bar data from a lower timeframe. Please note that using intrabar data may not be available with your TradingView subscription on some timeframes, and also that using intrabar data may increase calculation time.
  
• Data Request: Choose the lookback for the volume distribution: "Long-term" will look back 500 bars, and “Short-Term” will halve this.
  
• # of Levels: Specify the number of levels/rows to display for visualizing the distribution.
  
  

5 déc.

Notes de version

Update: Font sizing for volume counts has been fixed.

13 déc.

Notes de version

Added numbering option for tier labels.

il y a 5 jours

Notes de version

Added several quality-of-life styling options:

1. A 'profile width' option to customize the width of the profile
   
2. 'Extend right bars' option to determine how far the bias blocks extend when using 'Across' or 'Right'
   
3. Options to set custom colors for buy and sell action zones
   
4. Custom font coloring for volume count labels.