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Volume By Price (VOLBP)

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Volume By Price is an overlay that shows the amount of volume for a certain price range. It is shown by horizontal bars based on the current data of the chart. The drawn bars span the price range, meaning that all volumes within that range are added to that bar. Chartists can use Volume By Price to provide support or resistance based on the high volume price ranges.

Volume By Price can be used as a support and resistance identifier. That is because larger volume at a certain price range shows higher interest in that price range. This interest can influence future supply and demand such that if the price goes to far away from the interest range then the price is likely to return to that range. Therefore, if an arrow is thrown by another indicator and the arrow is near a peak or valley in a low interest (low Volume By Price area) and the arrow points toward the higher interest price range then it can be said that the arrow is more likely accurate or supported.

Example of Volume By Price overlay with the Volume indicator:


Volume By Price calculations are based on the current chart screen and the price bar being displayed. That means that if the price bar is on the screen then it's volume is taken into account and if the price bar is not on the screen then it's volume is not taken into account. Know also that to be taken into account the close price for the price bar needs to be on the screen. The current chart screen is divided by the number of bars to get the price ranges for the Volume By Price bars.

A Volume By Price bar is broken up into down volume (darker default color) and up volume (lighter default color). Up volume is when a price bar's price is greater than the open and down volume is when a price bar's close is less than the open.


Right-click anywhere on the chart and go to "Overlay Properties." Select Volume By Price from the list. The preferences will appear in the Control Panel. (Once you click on the chart, the Preference tab will go back to chart settings.)

Restore Settings: TNT Default will change your settings back to the original software settings. My Default will change current settings to your personalized default settings. Apply To All Charts will apply your selected settings on all open charts. Save As My Default will save your current personal settings.

1. Volume Up: This is the color of the up volume or the volume for which the close price is above the open price.

2. Volume Down: This is the color of the down volume or the volume for which the close price is lower than the open price.

3. Number of Bars: This option specifies the number of bars that is being drawn on the screen. The number of bars is used the in the calculation for the ranges of the Volume By Price bars.

4. Length of Bars: The length of the Volume By Price bars is the percent of the chart.