Superior Volume

Overview

Superior Volume is a versatile volume analysis indicator designed to give traders more clarity than the standard volume bar.

What it does

Instead of showing raw volume alone, it interprets market activity by classifying each bar’s volume as bullish, bearish, or neutral – and by grading its intensity from low to high.

This dual-layer approach (Bar Bias + Volume Magnitude) helps you instantly see whether buyers or sellers are dominating, and how strong the activity really is.

• Bar Bias → bullish, bearish, or neutral, depending on how price closes relative to its range. You have full control to define the neutral range.
• Volume Magnitude → low, medium, or high, measured against a dynamic volume average with 2 user-defined thresholds.
• Volume Bias Colors → each bar is colorized based on the combination of bar bias and magnitude, making it easier to spot meaningful shifts in activity.

Important note

Volume is a contextual tool. A bullish volume spike doesn’t always mean “buy now,” nor does a bearish spike always mean “sell now.”

Instead, these signals tend to have longer-term implications. To trade effectively with volume, you should always consider the bigger picture of price action.

Key Features

• Plots raw volume
• Give full control over defining the moving average of volume (with 11 popular moving averages)
• Option to smooth the volume moving average (11 MA types available).
• Allow defining 2 dynamic volume thresholds which are multiples or fractions of the moving average of volume.
• Colorize volume based on volume bias, which is a result of the investigation of bar bias & volume magnitude.
• Colorizes volume bars according to bullish/bearish/neutral activity and strength.
• Alerts on high volume conditions (customizable).
• Optional chart background highlight on strong volume bars.