Indicator Overview

The Traded Volume indicator displays the daily share volume as a filled area chart on the primary axis that ranges from deep green (low volume) to bright green (extreme volume). The price is overlaid on a secondary logarithmic axis in white for context, with optional SMA overlays on volume and unified hover showing both price and exact share volume. This creates an immediate visual read of participation intensity, essential for interpreting the strength behind price moves.

Dual-Ticker Comparison Logic

The ‘Crypto’ fields allow the indicator to operate in both absolute price and relative performance modes, making it suitable for outright positioning or pair-based allocation decisions.

• Single Crypto Analysis: If Crypto 2 is left blank, the indicator measures Crypto 1 against US Dollars. This mode is designed to identify statistically stretched rallies, deep mean-reversion zones, and long-term accumulation conditions where price trades multiple standard deviations below its historical average.

• Relative Strength and Ratios: When both fields are populated, the indicator automatically constructs a ratio of Crypto 1 divided by Crypto 2, such as ETH/BTC or SUI/SOL. The metric is then calculated on the ratio itself, isolating relative performance and stripping out broad market beta. This enables precise identification of overperformance, underperformance, and regime shifts between assets.

How To Use

Extreme green spikes signal explosive participation and often marking the peak of bullish momentum. Dark green troughs indicate volume drought and disinterest, frequently seen during consolidation, creating stealth accumulation windows before the next leg up.

Divergences are especially powerful: price making new highs on fading volume warns of distribution and impending pullbacks, while price weakness on rising volume suggests forced selling or capitulation and high-probability rebounds. Traders use volume spikes above recent averages as confirmation for entries on breakouts or exits on exhaustion, while persistent low volume during sideways action signals low-risk accumulation zones.