Here is a very interesting indicator created by WayneChem from the TS forums. Thanks to walterw for posting this up in our forums.

Indicator description:

• apparent stacked vertical bars with up ticks (green) and down ticks (red) with the larger of the two always on top.
• volume moving average (yellow line)
  mid-point of total volume (white dot)

It is an interesting tool to spot reversal or to analyze volume at key price levels. Works great with pivot points. Screenshot is attached.

[danhoyda]

thanks very much for this!

[TheDude]

interesting, but I dont see what this adds over a normal Ask/Bid volume display which displays traded volume at the Ask(offer) and traded volume on the bid. Ok ticks v volume is one difference, but surely volume is more useful than ticks?