Zanger Volume Ratio - Intraday
Introducing the Zanger Volume Ratio - Intraday Indicator, your secret weapon for monitoring real-time trading volume dynamics on the TradingView platform! This innovative tool, inspired by the legendary trader Dan Zanger, is designed specifically for intraday traders seeking an edge in identifying breakouts, reversals, and trend continuations. With its unique categorization of volume levels and intuitive pace indicator, you'll gain unparalleled insights into the market's movements, empowering you to make more informed trading decisions. Don't miss out on the opportunity to elevate your trading game!
––––HISTORY & CREDITS 🏦
The Zanger Volume Ratio - Intraday indicator is a powerful tool inspired by the renowned trader, Dan Zanger, creator of the original Zanger Volume Ratio. This customized adaptation is tailored for the TradingView platform and focuses on intraday trading. Using a similar approach, Dan Zanger set a world record by turning HKEX:10,775 into HKEX:18,000,000 in under two years.
––––WHAT IT DOES 💡
The Zanger Volume Ratio - Intraday indicator calculates the estimated end-of-day volume percentage by comparing intraday volume levels (based on your chart's timeframe) over the last X days (input in the settings). This provides real-time insights into a stock's trading volume compared to its recent trading history, allowing traders to gauge relative volume levels throughout the trading day.
This indicator classifies volume into five levels: Extreme, High, Average, Light, and Dry Up, each represented by different colors on the chart. It also features a pace indicator, displaying whether the volume is increasing or decreasing during the trading session.
👉EXTREME (red): >200% of average daily volume
👉HIGH (magenta): 110%
👉AVERAGE (peach): 85%
👉LIGHT (orange): 60%
👉DRY (gray): <60%
––––HOW TO USE IT 🔧
To effectively utilize the Zanger Volume Ratio - Intraday indicator, follow these steps:
1️⃣ Apply the indicator to your TradingView chart with an intraday timeframe (>=1min and less than 1 day).
2️⃣ Observe real-time volume levels and their corresponding categories (Extreme, High, Average, Light, and Dry Up) to understand current volume dynamics.
3️⃣ Monitor the pace indicator (arrows) to track if the volume is increasing or decreasing during the session.
4️⃣ Use the information provided by the indicator to confirm trade setups, identify potential breakouts, or detect possible reversals. For example, a stock breaking out of a key area with high or extreme volume and an increasing pace arrow may indicate a strong upward move. Conversely, a stock pulling back on light or dry up volume could signal a continuation of the trend once the volume picks up again.
Remember to combine the Zanger Volume Ratio - Intraday indicator with other technical analysis tools and your own trading strategy to make informed decisions.
After you have purchased the indicator have to send us your TradingView username in order to get access.
ThinkorSwim (available, but separate):
Please send us an email and if you would like a ThinkorSwim version of this script. ThinkorSwim version is sold separetly from the TradingView version of the script and takes 5 days of delivery.
Link to TradingView script
After payment is made, access to the script will be given within 2 hours