Technical Studies: Price By Volume

Price By Volume is an upper chart indicator consisting of a series of horizontal bars that overlay a price chart. The length of each bar is drawn based on the trading volume that has occurred within a particular price range over the time period plotted on the chart.

The red section of each bar is the cumulative volume for days during which the security's price moved lower. The black section of each bar is the cumulative volume for days during which the security's price moved higher. The horizontal bars begin at the left of the chart and extend toward the middle. Each bar covers a vertical range that can be viewed by hovering a mouse pointer over the top of the bar.