Volume Control
Volume Control settings are global and specify the volume requirements for trend signals to fire.
Last updated
Volume Control settings are global and specify the volume requirements for trend signals to fire.
Last updated
Volume Triangles appear above or below candles when volume control requirements are met (marked with yellow arrows below). These should not be confused with larger Estimated Profit & Loss 'Doritos' which indicate trend profitability (shown in squares below).
Volume Controls are global and can powerfully affect strategy performance. Deactivating Volume Control may simplify the initial stages of Strategy Optimization. This is especially important when Isolating Factions for optimization.
Specifies which volume strategy will be used to identify trends:
Off - Volume Control disabled. Deactivating Volume Control may prove useful during Strategy Optimization.
Normal volume trend - requires volume to exceed the minimum threshold set in Trending Volume Trigger for a signal to fire.
Require trending volume - requires volume above the mean in one of the last two candles for a signal to fire. A threshold above the mean can be specified using the Trending Volume Trigger setting.
Require breakout volume - requires volume at least one standard deviation above the mean for a signal to fire.
Specifies if Volume Deviation Period and Volume Std. Deviation will be adjusted manually or set according to a short, medium, or long-term preset.
Sets the number of lookback periods used to generate Volume Std. Deviation.
Sets the standard deviation used in the volume trend calculation. Generally, Volume Std. Deviation (sd) should be increased as Volume Deviation Period (p) is increased. e.g. p = 10, sd = 1.9; p = 20, sd = 2; p = 50, sd = 2.1. However, these settings may not suit some assets.
Specifies the minimum volume required to trigger signals when Volume Control is set to 'normal volume trend' or 'require trending volume' Trending Volume Trigger can be set as a change in percentage or absolute volume.
Open the Data Window in TradingView and hover over bars in the volume chart to see precise volume levels (see image below).
Sets the percentage rejection allowed before a momentum trade is canceled. Setting a value consistent with typical scam wicks may prevent falling prey to stop hunts. Confirmation Type should be set to ‘confirmed’ when using this feature.
