Volumes Suite indicator: displaying volumes for PVA analysis

Volumes Suite indicator is a volume indicator based on the PVA (Price-Volume Analysis) principle.

The Volumes Suite indicator analyzes volumes according to the PVA method and, in accordance with their values, colors the bars of the histogram located in the basement of the price chart.

The principle of coloring bars of the histogram by the method of PVA-analysis

• Maximum point

Bars with volume> = 200% of the average volume of the 10 previous bars, and bars in which the candle size x candle volume> = the maximum of the 10 previous candles.

Such bars are colored green (bull bar) and red (bear bar) by default.

• Volume grows above average

Bars with volume >= 150% from the average volume of the previous 10 bars.

Such bars are colored blue (bull bar) and purple (bear bar) by default.

The Volumes Suite indicator has several color options available. In addition, the indicator is equipped with an alert when maximum points are reached.

According to ForTrader.org experts, Volumes Suite indicator, in combination with another PVA analysis indicator Candles SuiteThe volume analysis can become a basic element for trading strategies that use volume analysis.

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