Custom Volume Indicator – Think or Swim

TD Ameritrade’s platform gives us a stock volume indicator, however it doesn’t really give us clear information besides the total volume traded. In this post we will go over a Custom Volume Indicator for Think or Swim that focuses on Uptick volume vs Downtick volume.

Custom Volume Indicator - Think or Swim
Seen above, the Volume Bars show Green & Red. This shows us Uptick vs Downtick volume. See the video below for a more in depth walkthrough on what that means.
Here’s how to install it:

Once you have Think or Swim open, click the link below and click on “View in Think or Swim.” This will have you save the script into your studies list. Name it something you’ll be able to find easily. I saved it as “Volume BUY/SELL” – then simply add it into your charts/studies/sets.

Custom Think or Swim Volume Indicator: http://tos.mx/NbxaA1u

Check out this post as well on another indicator I like to use: RSI – Relative Strength Index

If you’re new to reading price action, start by checking out these posts: How to Read a Stock Chart & How to Read a Candlestick

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