Also available on Volsys with additional functionality, VolSwing is a comprehensive tool that provides the trader with accurate volume and market structure analysis 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
• SETTINGS ZIG ZAG
  • What is zig zag?"
  • Zig zag mode
  • Zig zag rev. & absolute
  • Zig zag tick rev.

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 functionality of the indicator itself.

ZIG ZAG 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 trace the high and low points, identifying market swings, on which the indicator will make its calculations.

1. Zig zag mode

   This 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 sets the minimum requirement in terms of percentage of movement for the indicator to draw a new swing (swing) in the chart.

3. Zig zag tick rev.

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

SETTINGS-VISUALIZATION

4. Histogram value

   Allows you to 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.

5. 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.

6. Show-sign

   Lets you 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.

7. 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.

8. Std. dev. for-coloring

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

COLORS SETTINGS

9. Negative bar color

   Color used to represent bars with negative values in the indicator histogram.

10. Color-bar-positive

    Color used to represent bars with positive values in the indicator's histogram.

11. Color-line-volume

    Color used for the volume line, allowing visual distinction of volume trends associated with market movements.

For more information on Volswing, you can check out the wiki dedicated to the indicator on Volsys, which offers additional details and insights. Here is the link to Volswing on Volsys. Volswing link on Volsys