OPEN-SOURCE SCRIPT
Volume & Price Counter
**User Guide for Volume & Price Counter (Candle Structure)**
### 1. Introduction to Volume & Price Counter
The **Volume & Price Counter** (Candle Structure) is a momentum analysis indicator that helps identify which side—buyers or sellers—is dominating the market by counting candles based on the combination of volume and price movement.
The indicator classifies candles into 4 groups:
- **Volume Up, Price Up (Vol ↑ & Price ↑)** – Indicates strong buying pressure.
- **Volume Down, Price Up (Vol ↓ & Price ↑)** – Price is rising but buying momentum is weakening.
- **Volume Up, Price Down (Vol ↑ & Price ↓)** – Indicates strong selling pressure.
- **Volume Down, Price Down (Vol ↓ & Price ↓)** – Price is falling but selling momentum is weakening.
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### 2. How the Indicator Works
The Volume & Price Counter calculates the number of each candle type over a specific time period to determine which side is currently in control:
- **Green Background**: When the total of (Vol ↑ & Price ↑) + (Vol ↓ & Price ↑) is greater than the total of (Vol ↑ & Price ↓) + (Vol ↓ & Price ↓) → Buyers are in control.
- **Red Background**: When the total of (Vol ↑ & Price ↓) + (Vol ↓ & Price ↓) is greater than the total of (Vol ↑ & Price ↑) + (Vol ↓ & Price ↑) → Sellers are in control.
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### 3. How to Use the Indicator in Trading
**a) When the background is green**:
- The market is in an uptrend; consider buying during pullbacks to support zones.
- If the green background continues and the number of (Vol ↑ & Price ↑) candles dominates, the price may continue to rise.
- If the green background is present but there are many (Vol ↓ & Price ↑) candles, be cautious as buying strength may be fading.
**b) When the background is red**:
- The downtrend is prevailing; it's better to stay out or look for selling opportunities during pullbacks.
- If the red background continues with a high number of (Vol ↑ & Price ↓) candles, the price may continue to fall.
- If there are many (Vol ↓ & Price ↓) candles during a red background, selling pressure may be weakening—watch for reversal signals.
**c) When the background shifts from red to green**:
- This is a positive signal, indicating buyers are returning to the market.
- Additional volume confirmation is needed to validate a true uptrend.
**d) When the background shifts from green to red**:
- This warns of a potential trend reversal to the downside.
- If volume spikes during the red shift, consider closing long positions.
---
### 4. Combining Volume & Price Counter with Other Indicators
**Combine with support/resistance levels**:
If a green background appears at a strong support zone, it may signal a potential buying opportunity.
### 1. Introduction to Volume & Price Counter
The **Volume & Price Counter** (Candle Structure) is a momentum analysis indicator that helps identify which side—buyers or sellers—is dominating the market by counting candles based on the combination of volume and price movement.
The indicator classifies candles into 4 groups:
- **Volume Up, Price Up (Vol ↑ & Price ↑)** – Indicates strong buying pressure.
- **Volume Down, Price Up (Vol ↓ & Price ↑)** – Price is rising but buying momentum is weakening.
- **Volume Up, Price Down (Vol ↑ & Price ↓)** – Indicates strong selling pressure.
- **Volume Down, Price Down (Vol ↓ & Price ↓)** – Price is falling but selling momentum is weakening.
---
### 2. How the Indicator Works
The Volume & Price Counter calculates the number of each candle type over a specific time period to determine which side is currently in control:
- **Green Background**: When the total of (Vol ↑ & Price ↑) + (Vol ↓ & Price ↑) is greater than the total of (Vol ↑ & Price ↓) + (Vol ↓ & Price ↓) → Buyers are in control.
- **Red Background**: When the total of (Vol ↑ & Price ↓) + (Vol ↓ & Price ↓) is greater than the total of (Vol ↑ & Price ↑) + (Vol ↓ & Price ↑) → Sellers are in control.
---
### 3. How to Use the Indicator in Trading
**a) When the background is green**:
- The market is in an uptrend; consider buying during pullbacks to support zones.
- If the green background continues and the number of (Vol ↑ & Price ↑) candles dominates, the price may continue to rise.
- If the green background is present but there are many (Vol ↓ & Price ↑) candles, be cautious as buying strength may be fading.
**b) When the background is red**:
- The downtrend is prevailing; it's better to stay out or look for selling opportunities during pullbacks.
- If the red background continues with a high number of (Vol ↑ & Price ↓) candles, the price may continue to fall.
- If there are many (Vol ↓ & Price ↓) candles during a red background, selling pressure may be weakening—watch for reversal signals.
**c) When the background shifts from red to green**:
- This is a positive signal, indicating buyers are returning to the market.
- Additional volume confirmation is needed to validate a true uptrend.
**d) When the background shifts from green to red**:
- This warns of a potential trend reversal to the downside.
- If volume spikes during the red shift, consider closing long positions.
---
### 4. Combining Volume & Price Counter with Other Indicators
**Combine with support/resistance levels**:
If a green background appears at a strong support zone, it may signal a potential buying opportunity.
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開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。