Free volume indicator for NinjaTrader 8: climax and relative volume
NinjaTrader's volume only paints each bar in its candle's color: it doesn't tell you when unusual volume came in. This indicator splits relevant volume into colored levels: high (1.5 times normal), climax (double) and absorption (lots of volume that barely moves price). Optionally it paints the chart candles the same way and grays out very low volume bars.
The difference is what it compares with. The usual climax volume indicators (PVSRA, vector candles, RVOL) look at the last 10-20 bars, and in futures that fails: the 8:30 CT open always shows as climax and nothing overnight ever does. Here, by default, each bar is compared with the average of that same time in the last 10 sessions: the open with opens and Asia with Asia.
- 100% free
- Built by El Trader Financiado for the community
Version 1.1 beta · NinjaTrader 8 · .zip to import · also in the pack of all 16 · updated November 4, 2026
Install one language only: if you switch between English and Spanish, delete the ElTraderFinanciado folder first (Documents\NinjaTrader 8\bin\Custom\Indicators).
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What the indicator draws
- Volume of each bar in its own panel, bullish or bearish by candle color or, if you turn it on, by real delta (aggressive buys minus sells).
- Levels: high from 150% of normal, climax from 200% and absorption (high volume with a range under half the average). Low volume (under 50%), optional.
- Three references: the same time of the last 10 sessions (default), the average of the previous X bars or 'more volume than all the previous X'. Also the Better Volume climax (highest volume × range).
- A line with each bar's normal volume and a label saying what it compares with.
- Chart candles painted in their volume color (like vector candles) and low volume candles in gray, separately and optional.
- Alerts when a climax or absorption bar closes, and series for strategies: Rvol (volume / normal) and Clase (level with the candle sign).
Relative volume by time of day: why the average is not enough
On NQ, a 5-minute bar at 8:30 CT easily trades 10 times more contracts than one at 3:00 CT. If you compare each bar with the previous 20, the open always looks like a climax and a strong overnight bar never makes it. That is why relative volume (RVOL) by time slot compares each bar with the average of that same slot in previous sessions, in Chicago time.
What each screenshot shows
- 01
Only what is unusual stands out
Normal volume is drawn dimmed and the relevant volume in its color: high in strong green or red, climax in blue (bullish) or magenta (bearish) and absorption in gold. The gray line is the normal volume for that bar.
- 02
Same time vs. bar average
With the average of the previous 20 bars, the New York open and close always show as climax and the night never does. With the same time of previous sessions (the default), each time slot is measured against itself.
- 03
Bullish or bearish by real delta
With 'Color by real delta', each bar's side comes from the bar's aggressive buys and sells (the Cumulative Delta tick engine), not from whether the candle closed up or down.
- 04
No-interest candles, in gray
With 'Color low-volume candles', candles below 50% of normal are dimmed: pullbacks with no pressure against them or breakouts with no volume behind them.
How to trade volume
The most common uses. Everything is set in the indicator properties.
Climax at the end of a move
A climax bar after a long rally or drop often marks exhaustion: the last ones get in and those already in get out.
Absorption at a level
Lots of volume and little travel at support or resistance: someone is absorbing with limit orders.
Pullbacks and breakouts without volume
Low volume counts too: a pullback without volume is healthy and a breakout without volume is suspect.
What the evidence says
Volume tells you how much traded, not where price will go: a climax bar can be the start of a move or its end. The climax, absorption and low volume readings come from classic volume analysis (Wyckoff, VSA) and we know of no public studies showing that, on their own, they give an edge. Use it as context with your levels and your entry signal.
Key settings
| Setting | Default | What it does |
|---|---|---|
| Compare with | SameTime | Same time of previous sessions, average of the previous X bars or the highest of the X bars. |
| Sessions (same time) · Bars (X) | 10 · 20 | Sessions in each time average and bars for the average, the highest and the average range. |
| High from · Climax from (% of normal) | 150 · 200 | Level thresholds. 200% is PVSRA's. |
| Absorption | Yes | High or climax volume with a range under 50% of the average, in gold. |
| Climax also by volume × range | No | The Better Volume climax: highest volume × range of the X bars. |
| Color by real delta | No | Each bar's side by aggressive buys and sells. Loads ticks of the last sessions. |
| Color chart candles | No | Paints high, climax or absorption volume candles in their color. |
| Color low-volume candles | No | Candles under 50% of normal in dimmed gray. |
| Alerts | No | When a climax or absorption bar closes, in real time or Market Replay. |
| Mini volume | No | On a micro (MNQ, MES…), the volume of the mini with the same expiry (NQ, ES…) on your bars. |
How to install ETFVolumen in NinjaTrader 8
- 1
Download the .zip and don't unzip it.
- 2
In NinjaTrader 8, from the Control Center: Tools → Import → NinjaScript Add-On… and pick the .zip.
- 3
Accept and wait for it to compile. If you had an earlier version, allow it to overwrite.
- 4
Indicators: on the chart, right-click → Indicators… → ElTraderFinanciado folder. Risk-Reward: right-click → Drawing Tools. Risk Guardian: Control Center → New.
Frequently asked questions
How is it different from NinjaTrader's volume?
NinjaTrader's volume (VOL or VolumeUpDown) only colors each bar by its candle. This one compares each bar with what is normal for that time and separates high, climax, absorption and low volume, with the normal volume line, colored candles and alerts.
Why doesn't the open show as climax?
Because it is compared with the opens of the previous 10 sessions, not with the bars before it. If you want PVSRA behavior (average of previous bars), set 'Compare with' to BarAverage.
Do I need Order Flow+ or Tick Replay?
No. Color by real delta loads a 1-tick series with the bid/ask of each trade, like the ETF Cumulative Delta, and works with the free license. Without that option it only uses bar volume.
Does it work on tick, range or Renko charts?
Yes, but there are no fixed time slots there: it compares with the average of the X bars and the label says so. Same time needs minute or second bars.
Does it repaint?
No. Each bar is compared with previous sessions and bars; the bar in progress changes while its volume grows and is fixed when it closes. Alerts only fire on the closed bar.
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The indicators describe what price has done; they don't predict what it will do and they are not investment advice. The risk management tools are an aid: they don't replace your firm's rules or your broker's limits. Only trade futures with money you can afford to lose.