The Volume Cluster type is similar to Volume profile, but instead of volume bars, volume clusters are displayed. In Volume cluster mode, cluster colours represents the quantity of volume traded at the particular price level within the candle. The greater the volume, the darker blue the cluster is filled, and the lower the volume, the more the cluster colour tends towards a white.
Volume cluster shading could be calculated by 3 methods:
- Adaptive: unique algorithm choosing best fit for order flow analysis (most common).
- Current rotation: color shading based off of single candle data
- Fixed Volume: color shading created from custom Maximum volume
Following image represent adaptive volume color shading method:
In this image current rotation volume color fading mode displayed: