FreeIndicators·ThinkorSwim
Volume Intensity
Measures how forceful current volume is versus normal.
How to install in ThinkorSwim
- In ThinkorSwim, open a chart, then go to Studies → Edit Studies.
- Click Create, clear the editor, and paste the code.
- Name it, click Apply, then OK, and it draws on your chart.
How to Use — WeTradePro Volume Intensity
Volume normalized against its own average, so every ticker reads the same: how intense is this bar vs normal? Educational, not advice.
What it is (one line)
A colored histogram of volume divided by its own moving average — 1.0 is an average bar, 2.0 is twice normal — so climactic, high-conviction bars jump out and quiet bars fade, on any stock at any price.
Who it's for & best timeframe
| Trader type | How you use it | Best timeframe | Notes |
|---|---|---|---|
| Day trader | Best fit — spot the breakout/exhaustion bar with real participation | 1-min – 15-min | Tier colors flag climactic bars instantly |
| Swing trader | Confirm daily breakouts and reversals are backed by conviction volume | Daily | High/climactic bars at S/R matter most |
| Position trader | Validate accumulation/distribution at major levels | Daily / Weekly | Sustained high tiers = institutional interest |
Best overall: Works on every timeframe. Day traders lean on the intraday climactic flag; swing traders use it to confirm breakout and reversal conviction on the Daily.
What you see (lower panel)
- Histogram: volume as a multiple of its own average.
- Gray = quiet (below
quietMult, low participation). - Blue = normal.
- Orange = high (at/above
highMult). - Red = climactic (at/above
climaxMult). - Dashed line at 1.0: the "normal" reference.
- Labels: the exact relative-volume multiple (e.g.
2.3x avg) and its tier.
How to use it
- Confirm breakouts. A breakout on an orange/red bar has real demand behind it; a breakout on a gray/blue bar is suspect and prone to failure.
- Read climax. A lone red bar after an extended run can mark exhaustion (a buying/selling climax) — watch for reversal.
- Filter the noise. Gray bars = low participation; be skeptical of moves made on quiet volume.
- Watch accumulation. Repeated orange bars while price holds a level = something is being built (accumulation or distribution).
Settings (inputs)
length(20) — lookback for the "normal" volume baseline.highMult(1.5) — threshold for the HIGH (orange) tier.climaxMult(2.5) — threshold for the CLIMACTIC (red) tier.quietMult(0.5) — below this is QUIET (gray).
Best on
- Any liquid stock or ETF. Because it's normalized, it reads identically on a $5 stock and a $500 stock — that's the whole point. Avoid ultra-thin tickers where the average is unstable.
Common mistakes
- Reading raw height instead of color — the tier color is the fast read; height is the detail.
- Acting on a single climactic bar alone — pair it with price (breakout vs exhaustion context).
- Too-short `length` — makes the baseline jumpy; 20 is a solid default.
- Ignoring quiet bars — low volume is information too (lack of conviction).
Video script outline (for your WeTradePro tutorial)
- Hook: "Is 2 million shares a lot? Depends — so let's normalize it."
- Show the same setup on a cheap and expensive stock reading identically.
- The tiers: gray quiet, blue normal, orange high, red climactic.
- Breakout confirmation: orange/red good, gray/blue suspect.
- Climax reversal: the lone red bar after a run.
- Tuning the thresholds for your instrument.
- Recap + "import link in description."
Educational analysis, not financial advice.
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