volume pressure ratio as histogram bars

[shakib3585]

Hello All,

Can anyone please help me with a script that shows the up/down volume ratio as histogram bars? I would like to use it on any aggregation period.

Thank you

 

[traderLK]

Hello All,

Can anyone please help me with a script that shows the up/down volume ratio as histogram bars? I would like to use it on any aggregation period.

Thank you

shakib3585,

This script plots the ratio of bars with volume up to bars with volume down over the last <length> bars as a histogram. The line at 1.0 indicates where the numbers of up and down volume bars are equal. The default length is 20 bars, but this may not be best and it can be adjusted in the inputs.

The chart shows the new volume ratio indicator and also the default VolumeAvg indicator in ThinkOrSwim.

# Volume_UpDnRatio_Histogram
# Question from shakib3585 on 2/13/24
# Calculates the ratio of bars with volume up to bars with volume down within the last <length> number of bars.

declare lower;

input length = 20;
input cut_off = 1.0;

def upvol = if volume > volume[1] then 1 else 0;
def dnvol = if volume < volume[1] then 1 else 0;

plot VolRatio = sum(upvol, length) / sum(dnvol, length);
plot cutoff = cut_off;

VolRatio.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
VolRatio.SetLineWeight(4);
VolRatio.SetDefaultColor(Color.RED);
cutoff.SetLineWeight(2);
cutoff.SetDefaultColor(Color.BLACK);

 

[shakib3585]

shakib3585,

This script plots the ratio of bars with volume up to bars with volume down over the last <length> bars as a histogram. The line at 1.0 indicates where the numbers of up and down volume bars are equal. The default length is 20 bars, but this may not be best and it can be adjusted in the inputs.

The chart shows the new volume ratio indicator and also the default VolumeAvg indicator in ThinkOrSwim.

View attachment 21858

# Volume_UpDnRatio_Histogram
# Question from shakib3585 on 2/13/24
# Calculates the ratio of bars with volume up to bars with volume down within the last <length> number of bars.

declare lower;

input length = 20;
input cut_off = 1.0;

def upvol = if volume > volume[1] then 1 else 0;
def dnvol = if volume < volume[1] then 1 else 0;

plot VolRatio = sum(upvol, length) / sum(dnvol, length);
plot cutoff = cut_off;

VolRatio.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
VolRatio.SetLineWeight(4);
VolRatio.SetDefaultColor(Color.RED);
cutoff.SetLineWeight(2);
cutoff.SetDefaultColor(Color.BLACK);

Thank you @traderLK