Trade Intensity is the number of trades divided by the 200-period moving average of trade count. Values above 1.0 indicate above-average activity; below 1.0 indicates below-average activity.
Visual Encoding
X-Axis: Time (4h, 8h, or 1d intervals)
Y-Axis: Ratio vs 200-MA (1.0 = average)
Line: Trade intensity ratio
Interpretation
High Activity: > 1.2 — spikes often accompany breakouts