Ch 6 · Indicator
Volume Both

Volume

Total number of shares/contracts traded per bar. The raw measure of participation behind every price move.

Formula

(Raw exchange data — no calculation)

What it's for

Confirmation (breakouts on high volume are real), divergence (price makes new high on lower volume = weak), climactic exhaustion (spike volume at extremes).

When it fails

Indian intraday volume tapers around lunch and returns near close — misinterpreting time-of-day patterns as signals is common.

On the chart

Nifty 50 daily bars with Volume pre-loaded:

Where it's used on this site

6 strategies use Volume: