VolSwing is a comprehensive tool that provides the trader with accurate analysis of volumes and market structure with swing and trend analysis, enhancing understanding of trends and critical turning points. Ideal for those looking for detailed visualization and advanced control of market conditions by enhancing through volumes the Price Action behavior.

INDEX

• Settings-of-Use
• How-To-Set-Volswing
• Set-DATA
  • Data Base
  • Filter-min
  • Filter-max
• ZIGZAG SETTINGS
  • What is zig zag?"
  • Zig zag mode
  • Zig zag rev. & absolute
  • Zig zag tick rev.
  • Rise-color
  • Rise-color
  • Line-thickness
• GENAL TEXT
  • Text-Size
  • Offset-text
  • N. max. bars-to-display

Settings-of-Use

How-To-Set-Volswing

Clicking on the indicator settings icon will open its configuration window, within which you can make several choices regarding the indicator's functionality.

DATA SETTINGS

1. Data-Base

   This setting allows you to select the type of data on which to base the VolSwing indicator analysis.
   • Volume: Uses the total volume of trades.
   • Order: Is based on the number of orders.
   • Aggregated volume: Uses the aggregated volume of orders.
   • For a more detailed explanation go to the link in the wikli dedicated to "Data base type"

2. Filter-min

   It allows you to set a minimum filter value for the selected data. For example, if the chosen data base is volume, this setting will allow only volumes above the minimum set value to be considered, ignoring those below.

3. Filter max

   This allows you to set a maximum filter value for the selected data. Similar to the minimum filter, this setting allows you to exclude data that exceeds a certain limit, focusing the analysis on a specific range of volumes, orders, or aggregates.

ZIGZAG SETTINGS

What is the zig zag?

The Zig Zag in this context refers to the definition of the swing, which is a series of price movements that track high and low points, identifying market swings. With the Zig Zag indicator, traders can better visualize the sequence of swings, being able to better analyze different market phases.

1. Zig zag mode

   Allows you to select the type of method used to calculate swings.
   • Absolute Reversal: Uses a fixed price reversal value to determine a swing. Sufficient price movement in the opposite direction from the current trend is required to determine a reversal and identify a new swing.
   • Reversal tick: Reversal is tick-based, allowing a minimum amount of tick movement to be defined to generate a reversal.

2. Zig zag rev. & absolute

   Indicates the minimum percentage change required for price to define a new swing. In practice, it establishes the minimum requirement in terms of percentage movement for the indicator to draw a new swing on the chart.

3. Zig zag tick rev.

   Specifies the number of ticks required for a reversal when using the "Tick Reversal" mode.

4. Color-Rise

   Allows you to select the color of the Zig Zag segment that represents an upward (rise) movement. This helps to visually differentiate bullish from bearish movements in the chart.

5. Color-bottom

   Allows you to select the color of the Zig Zag segment representing a downward (bearish) movement. 

6. Line thickness

   Adjusts the thickness of the Zig Zag line, changing the visibility of the plot on the chart. A higher value makes the line more visible.

GENERAL TEXT

1. Text-size

   This setting allows you to adjust the size of the text displayed on the indicator.

2. Text-Offset

   This allows you to set an offset distance for the text relative to the bar position. This parameter allows the text to be moved so that it does not overlap other graphical elements, improving the readability and orderliness of the graph.

3. Max. no. bars-to-display

   Defines the maximum number of bars for which text will be displayed on the graph. This setting is useful for limiting the amount of information displayed over extended time intervals.

FIRST,SECOND, THIRD AND FOURTH-TEXT

The VolSwing indicator allows up to four pieces of information to be displayed for each swing, allowing the trader to analyze specific details regarding volumes and extension.

1. Enabled

   This option allows you to enable or disable the display of the first text. When enabled, the indicator will show the data selected for the first set of volumetric information on the graph.

2. Text

   It allows you to choose which information to display for the first, second, third, and fourth text.
   • Volume: Displays the total volume of the swing leg, useful for identifying the magnitude of volumes in a specific price movement.
   • Delta volume: Displays the delta of the swing leg, highlighting the imbalance between the two forces and indicating the predominance of buying or selling pressure.
   • Delta trade: Displays the delta between the number of trades in buying and selling, providing a measure of the distribution of orders.
   • Vol per tick: Shows the average volume per tick in the swing, providing an idea of the intensity of trades per unit of price.
   • Extent: Displays the extent of the swing in terms of the number of ticks, useful for understanding the magnitude of the movement in terms of price change

3. Positive color

   Lets you choose the color for the text related to positive data.

4. Negative color

   Lets you set the color for text associated with negative data

MARKER LABEL

The Marker label within the Volswing indicator, does not have a discretionary setting but is calculated by the platform. Two possible labels are shown on the chart, namely NOE: No Effort, or, NOR: No Result.
But what do these two Labels indicate?

1. NOE: NO EFFORT 

   • Lack of Volume to Support Movement/Push
     At the end of one of a swing indicates a movement that has lost momentum, highlighting a possible lack of volume support to continue. This label suggests that although price has moved in one direction, there has not been sufficient volume to support that movement, increasing the likelihood of a pause or possible reversal.

2. NOR: NO RESULT

   • Lack of result in price movement despite significant volume.
     At the end of a swing it signals that, despite the presence of significant volume during the development of the movement/push, the movement/push has not achieved significant progress. This could indicate strong resistance or support, suggesting that the movement could slow, consolidate, or even reverse.

Please note: These indications assume greater relevance in a medium to large movement context, not characterized by high volatility. In conditions of low liquidity, the market may in fact provide less meaningful and unreliable signals.

SETTINGS-VISUALIZATION

1. Display Mode

   It allows you to choose how to display VolSwing indicator data. The available options are:
   • Lines: Displays only the lines connecting the swing points.
   • Bars: Displays a bar histogram to represent the volumetric data.
   • Lines and Bars: Combines both swing lines and histogram bars, providing a more complete visual representation.

2. Histogram-Value

   Lets you select which volumetric data to represent in the bar histogram. Options include:
   • Volume delta: Displays the delta between buying and selling volumes.
   • Delta trade: Displays the delta between buy and sell trades.
   • Vol per tick: Displays the average volume per tick.
   • Extension: Represents the extent of the movement in terms of number of ticks.

3. All-in-one

   This setting allows you to combine multiple volumetric information into one visual element. Options include:
   • None: Does not show any combination of information.
   • Vol delta trade: Combines volume and delta trade data.
   • Vol delta: Shows volume and delta together.
   • Volume: Displays volume data only.

4. Show-sign

   Allows you to select how to interpret the sign (positive or negative) for the indicator coloring. The available options are:
   • Positive: Show only positive values.
   • Negative: Show only negative values.
   • Delta-based: Coloring based on volume delta.
   • Trend-based: Coloring according to the trend of price movement.

5. Color mode

   Allows you to select the color display mode. The options are:
   • Fixed: Uniform color for the whole chart.
   • Fade: Applies a gradual fade to colors.
   • Delta fade: Uses a delta value-based fade to make buying or selling pressure changes more obvious.

6. Std. dev. for-coloring

   This setting allows you to set the standard deviation for coloring the data. A higher value or a lower value either increases or decreases the sensitivity of the coloring to changes in the volumetric data.

COLORS-ALL-IN-ONE

This color setting refers to the "All-in-one" feature selectable within the "Display Settings" 

1. Volume line

   Sets the color for the volume line. This color represents the overall volume within the swing, providing a clear visual indication of the total amount of trading for that move.

2. Positive delta vol.

   Select the color for positive delta volume, that is, when buy volumes exceed sell volumes. This color highlights areas where there is a predominance of buying, helping to identify buying pressure.

3. Negative delta vol.

   Select the color for negative delta volume, that is, when selling volumes exceed buying volumes. This color highlights areas with predominance of selling.

4. Positive delta trade

   Sets the color for positive delta trade, that is, when the number of buying trades is greater than the number of selling trades. This color helps identify areas with greater buying activity.

5. Negative delta trade

   Selects the color for negative delta trade, which represents a predominance of selling trades over buying trades. This color highlights areas with more selling activity.

HIGH/LOW LINE

1. Enabled

   This option allows you to turn on or off the display of the high and low swing lines on the chart.

2. Show Last Retracement

   This allows you to display a line representing the last retracement level.

3. Line-Thickness

   This allows you to adjust the thickness of the maximum and minimum swing and last retracement lines.

4. Line color

   Lets you choose the line color for maximum and minimum swings.

5. Last-Retrace Color

   Lets you set the color of the last retracement line, visually differentiating it from the maximum and minimum ndi swing lines.

6. Line-Style

   This setting allows you to select the style of the lines. The options include:
   • Solid: Continuous line without breaks.
   • Trathline: Dotted line for a discontinuous representation.
   • Point: Line composed of dots.
   • Pointed section: Line composed of dashes alternating with dots.
   • Point-dot section: Line composed of strokes followed by two points.

TREND-DETECTOR

The Trend Detector feature in the VolSwing indicator allows you to visually highlight periods of positive and negative trends directly on the chart via colored bands.

1. Enable trend

   Enable or disable the display of trend bands on the chart. When enabled, the Trend Detector will display colored bands representing periods of positive or negative trend.

2. Mode

   Allows you to select the sensitivity of trend detection. The available options are:
   • Deep: The detector also identifies minor trends, capturing smaller price movements and more frequent swings.
   • Medium: Provides intermediate sensitivity, detecting both major trends and some minor movements.
   • Strong: The detector focuses only on major trends, ignoring minor fluctuations and focusing on the most significant price movements.

3. Positive trend color

   It allows you to select the color of the band that indicates a positive (bullish) trend. This color will be applied to the background of the chart to visually signal market phases where the trend is upward.

4. Color-trend-downward

   Allows you to select the color of the band that represents a downtrend (bearish). This color will be applied to the background of the chart during market phases when the trend is downward.

5. Background opacity

   Adjusts the opacity level of the trend bands, allowing the colored bands to be more or less visible. A higher value makes the bands more opaque, while a lower value makes them more transparent.

LEVEL SETTINGS

1. Enable Level

   Enable or disable the display of two horizontal level lines on the histogram. When enabled, the line represents a specific value useful as a reference for the trader. A threshold of volumetric or extension values for identifying moments and area of possible reversals or continuations.

2. Level-Value

   Sets the numerical value of the level line. This value represents the specific threshold to be monitored, such as a volume or extension level.

3. Level-line-thickness

   Adjusts the thickness of the level line. Increasing the value makes the line thicker and more visible, while a lower value makes the line thinner.

5. Level-line color

   Lets you select the color of the layer line.

6. Level-line style

   Lets you choose the style of the layer line. Options include:
   • Solid: Continuous line with no breaks.
   • Hatching: Dotted line for a discontinuous representation.
   • Point: Line composed of points.
   • Point Tract: Line composed of strokes alternating with points.
   • Point Tract: Line composed of strokes followed by two points.