[GCB]

Robert,

Thanks very much.

Actually, the way it works is this: If the candle is an up candle--that is the close (or current) price is greater than open price--then the density of the candle color is based upon the amount of up volume for that candle relative to the average of up volume for the preceding n candles, where n is set by the VolLength input. Vice versa for down. So up volume is only compared to up volume, and down is only compared to down. So if an up candle is dark it means it had quite a bit more up volume than the average of the preceding n candles' up volume.

Since each candle gains volume as it is being formed you will not know the end color of a candle until either it reaches its darkest possible color or the next candle begins. Practically all candles start out light colored.

When the trend indicator is in an uptrend all candles are green, whether they are up or down candles, and in a downtrend all candles are red. Even so, up candle volume is only compared to the average of up volume, and vice versa. The PriceLength input is used to determine the moving average for the trend determination.

Note also that this can only be used on intraday charts. Daily charts or larger do not differentiate between up and down volume on TS.