Each indicator tells a different story. That’s why for the same feature (here the volume on a given time period), there can be multiple indicators. Each volume-based indicator does its own computation and uses the volume only or in conjunction with other data. Technical analysis is an approach where you need many stories to point in the same direction to get confident in taking a trade.
The most famous volume indicators are the Accumulation / Distribution indicator, the On Balance Volume, the Stochastic Oscillator, the Negative Volume Index, the VWAP, the VWMA, the Chaikin Money Flow, the Volume Profile and many more.
Each of these technical indicators are very easy to add to your charts using Tradingiew. As you likely noticed, most of the price charts visible on our site are taken from this tool. There your chart gets updated as price and current volume change.
Volume is a great way to assess market trends on a price chart.
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