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Volume

The volume pane shows how many shares or contracts traded in each bar, colored by the bar's direction, with a moving average for reference. Volume measures participation: moves that many participants support are more reliable than moves on thin trading.

What it's for
  • Measure the participation behind each move.
  • Confirm breakouts (expanding volume) and spot weak moves (thin volume).
  • Spot climaxes and volume dry-ups.
Every planTry it in Analyze
Pane
Separate pane
Plan
Every plan
Settings
Moving average length (0 hides it)
Colors
Green: close ≥ open · red: close < open

Confirming a breakout

Breakout above resistance at 105 on volume above twice its average, then a pullback on light volume
The close above 105 comes with more than twice the average volume: many participants agree with the move. The following pullback happens on light volume, a sign of profit-taking rather than distribution.
  • Expanding volume on a breakout shows demand absorbing the supply at resistance.
  • Light volume on pullbacks within a trend means sellers are not committed.
  • A breakout on weak volume is more often a false breakout.

Case study: a selling climax

Volume spike at the low of a decline, then a retest on light volume that holds above the low
At the end of a decline, the lowest low comes with record volume: capitulation, where the last sellers meet buyers absorbing everything. The later retest on light volume holds above that low.

Climaxes mark exhaustion more often than continuation, but only in hindsight: a volume spike during a decline can also be the start of heavier selling. The retest on lighter volume is what confirms that the supply was exhausted.

Limits

  • The green and red colors only follow the candle's direction; they do not separate buyer- and seller-initiated volume.
  • Volume for stocks covers the exchanges reported by the data provider. On the 1D view, the most recent minutes can come from a single-venue real-time feed; those bars are drawn faded and a note explains it.
  • Volume levels change over time (index inclusion, splits); compare a bar with its recent average rather than with distant history.

Charts in this guide use simulated prices generated for illustration; levels and outcomes shown are examples, not observations of a real market. Educational content only, not investment advice.

Related guides

VWAPHow the VWAP is calculated, why institutions use it as a benchmark, how its session to year anchors work, and how to read its standard deviation bands.Volume Profile (visible range)PlusHow the visible range volume profile distributes the volume of the bars on screen by price, and how to read its point of control, value area and volume nodes.Fixed range volume profilePlusHow the fixed range volume profile distributes volume by price over a chosen range, how the point of control and the 70% value area are computed, and how to trade around them.
Volume indicator: confirm breakouts, spot climaxes and dry-ups | Oyticker