Indicators: volume (histogram, buy/sell, trade size, RVOL)

The base Volume group contains six pane studies built on the bar aggregate: Volume, Buy/Sell Volume, Average Trade Size, Volume ROC %, Relative Volume and Trade Count. Bar volume is the backend sum of buy and sell per level, consumed as is.

Senzoukria · Documentation · Updated September 2026

Where to find it

Where
Chart toolbar → Indicators → group "Library · Volume"
Target
Pane for all six studies
Bar volume
totalVolume aggregated by the backend (Σ buy + sell over levels)
Default RVOL period
20 preceding bars

What it does

Volume is a histogram signed by the direction of the close: close ≥ open emits +volume with the up color, close < open emits −volume with the down color. The sign is only the color channel of the histogram shape, so bearish bars appear below the zero baseline; a doji counts as bullish, the same rule as the candle body renderer. Buy/Sell Volume draws two lines, the sums of buy and sell volume over the usable levels of each bar; a bar with volume but no level split returns nothing rather than two zeros.

Average Trade Size is totalVolume / tradeCount, empty when the count is zero. Volume ROC % is the percent change of volume over N bars, empty when the reference is zero. Relative Volume divides the bar volume by the SMA of the N preceding bars (window [i−N, i−1]), so the current bar never dilutes its own reference; 1.0 means normal volume. Trade Count plots the raw number of trades the source reported for the bar.

Settings

Parameters declared in the Volume group
StudySettingDefault (range)What it changes
VolumeUp color / Down colorgreen / redHistogram colors by close direction
VolumeSmoothing1 (1–200)Optional SMA over the histogram; 1 = raw values
Buy/Sell VolumeBuy color / Sell colorgreen / redColors of the two lines
Buy/Sell VolumeSmoothing1 (1–200)Optional SMA of each line
Average Trade SizeColor / Smoothingyellow / 1Line color; optional SMA
Volume ROC %Period1 (1–200)Bars between the current and reference volume
Relative VolumeSMA period20 (1–500)Number of preceding bars in the baseline
Trade CountColor / Smoothinggray / 1Line color; optional SMA

How to use it

Enable a study from the Library groups of the Indicators panel and, if the raw series is hard to read bar by bar, raise Smoothing. The default of 1 disables it and returns the exact series that shipped before the setting existed; a missing point stays missing and never feeds the smoothing window as a zero.

Relative Volume and Volume ROC % compare a bar with earlier bars of the same chart. Changing the bar type (time, tick, volume, range) changes what a bar means, so compare like with like. Average Trade Size and Trade Count depend on what the source identifies as an execution; the Study guide card states this as a source-dependent measure.

Limits and pitfalls

  • The signed Volume histogram is a rendering choice: an always-positive histogram colored per bar would need a color per point, which the histogram shape does not carry.
  • Buy/Sell Volume needs the bid × ask split from the source; an OHLCV-only history returns no point for those bars.
  • Aggregated executions do not establish the size of an individual participant's order; Average Trade Size is a ratio, not a tape reading.
  • Zero references produce a gap: 0/0 is not 0 %.
  • Market data is billed by the provider; these studies only reorganise what the chart already loaded.

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Frequently asked questions

Why are down bars drawn below zero in the Volume study?
The histogram shape colors by sign. To color bearish bars differently, their value is negated, which places them under the baseline. Read the absolute height as the volume.
Does Relative Volume include the current bar in its average?
No. The baseline is the simple mean of the N bars before the current one, so a large bar cannot lower its own ratio.

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