The Quantum Volume indicator has been designed to help you apply volume price analysis quickly and easily in all timeframes. The indicator takes the volume 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. To add context to each volume bar, the Volume indicator displays 3 lines that run through the volume histogram within INTRADAY timeframes:
- Highest Volume Line – is a line that maintains a level equal to the current day’s HIGHEST volume bar.
- Lowest Volume Line – is a line that maintains a level equal to the current day’s LOWEST volume bar. This does not include bars with 0 volume.
- Average Volume Line – is a line that displays the AVERAGE volume level within the current day.
Volume bars can sometimes be confusing to read but with the help of these lines, you can easily interpret the level of activity in each bar.