TradingView Indicator for Volume Quartiles, Range Bars, Aggregation, and Gaps
Summary
This configurable chart indicator combines four views: volume quartiles, volume aggregation, custom range bars for US trading hours, and price gaps. Its quartile view ranks current volume against an array of observed volumes, using percentile and median thresholds to color bars; an option also highlights a 90th-percentile category. The volume-aggregation view exposes a required-volume setting and can mark the largest increases and decreases.
The range-bar mode accepts trend and reversal price moves, with options to segment bars by date and display congestion areas. Gap settings control the minimum percentage difference, whether filled gaps are deleted, and when distant gaps are hidden. The source also includes an anchored VWAP with two-standard-deviation bands. These are visual and measurement tools rather than a complete trading strategy, and the excerpt provides no evidence that their signals predict returns. Loading and chart behavior depend on settings, and the fast option limits calculation to more recent bars.
Key ideas
- Volume quartiles classify observed volume using percentile and median cutoffs.
- Volume aggregation groups activity around a configurable volume requirement and can flag large changes.
- Range US bars use separate trend and reversal price-move parameters.
- Gap display options govern appearance thresholds, aging by price deviation, and removal after filling.
- An anchored VWAP and standard-deviation bands provide an additional price reference.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.