Convert Volume Pressure To MTF

[Bear.22]

Guys,

Not sure if this is the right forum; Requesting a modification (if possible) to the indicator below. I am looking to add a time selection input of 30min, 1 hour, 4 hour, Day, so that the buy and sell percentage labels reflect the input selected time frame? Is this possible? If so, can somebody write the appropriate script additions for me?

plot Data = close;declare upper;

def today = GetDay() == GetLastDay();
def midPrice = (high + low) / 2;

# Only count volume during today's session
def buyVol = if close > midPrice and today then volume else 0;
def sellVol = if close < midPrice and today then volume else 0;

# Accumulate today's buy/sell volume
def buyVolSum = TotalSum(buyVol);
def sellVolSum = TotalSum(sellVol);
def totalVol = buyVolSum + sellVolSum;

# Calculate %
def buyPct = if totalVol > 0 then (buyVolSum / totalVol) * 100 else 0;
def sellPct = if totalVol > 0 then (sellVolSum / totalVol) * 100 else 0;

# Display labels
AddLabel(yes, "Buy %: " + Round(buyPct, 1) + "%", Color.darK_GREEN);
AddLabel(yes, "Sell %: " + Round(sellPct, 1) + "%", Color.RED);

Thanks Much!
G

 

[dart966]

Here's a tutorial by @MerryDay

Converting Indicator To Multi-TimeFrame (MTF) In ThinkOrSwim

 

[Joshua]

On Daily+ charts, the GetDay() == GetLastDay() restriction would otherwise make the script useless, so I bypassed it on larger aggregations. Although, I suspect you might want something like only using the latest month on Daily, or maybe the latest Year on Weekly, or something like that. I wasn't sure how you need that handled. Let me know...

declare upper;
#
input SetAgg = AggregationPeriod.HOUR;
def Agg =
    if (SetAgg < GetAggregationPeriod(), GetAggregationPeriod() ,SetAgg);
AddLabel(SetAgg < GetAggregationPeriod(),
    " Bad Agg, Using Current: " + GetAggregationPeriod() / 60000 + " Min. "
,color.light_red);

def today =
    (Agg >= AggregationPeriod.DAY)
    or GetDay() == GetLastDay();
#
def midPrice = (high(period = Agg) + low(period = Agg)) / 2;#

# Only count volume during today's session
def buyVol = if close(period = Agg) > midPrice and today then volume(period = Agg) else 0;#
def sellVol = if close(period = Agg) < midPrice and today then volume(period = Agg) else 0;#

# Accumulate today's buy/sell volume
def buyVolSum = TotalSum(buyVol);
def sellVolSum = TotalSum(sellVol);
def totalVol = buyVolSum + sellVolSum;

# Calculate %
def buyPct = if totalVol > 0 then (buyVolSum / totalVol) * 100 else 0;
def sellPct = if totalVol > 0 then (sellVolSum / totalVol) * 100 else 0;

# Display labels
AddLabel(yes, "Buy %: " + Round(buyPct, 1) + "%", Color.LIME);
AddLabel(yes, "Sell %: " + Round(sellPct, 1) + "%", Color.Orange);

 

[Bear.22]

On Daily+ charts, the GetDay() == GetLastDay() restriction would otherwise make the script useless, so I bypassed it on larger aggregations. Although, I suspect you might want something like only using the latest month on Daily, or maybe the latest Year on Weekly, or something like that. I wasn't sure how you need that handled. Let me know...

declare upper;
#
input SetAgg = AggregationPeriod.HOUR;
def Agg =
    if (SetAgg < GetAggregationPeriod(), GetAggregationPeriod() ,SetAgg);
AddLabel(SetAgg < GetAggregationPeriod(),
    " Bad Agg, Using Current: " + GetAggregationPeriod() / 60000 + " Min. "
,color.light_red);

def today =
    (Agg >= AggregationPeriod.DAY)
    or GetDay() == GetLastDay();
#
def midPrice = (high(period = Agg) + low(period = Agg)) / 2;#

# Only count volume during today's session
def buyVol = if close(period = Agg) > midPrice and today then volume(period = Agg) else 0;#
def sellVol = if close(period = Agg) < midPrice and today then volume(period = Agg) else 0;#

# Accumulate today's buy/sell volume
def buyVolSum = TotalSum(buyVol);
def sellVolSum = TotalSum(sellVol);
def totalVol = buyVolSum + sellVolSum;

# Calculate %
def buyPct = if totalVol > 0 then (buyVolSum / totalVol) * 100 else 0;
def sellPct = if totalVol > 0 then (sellVolSum / totalVol) * 100 else 0;

# Display labels
AddLabel(yes, "Buy %: " + Round(buyPct, 1) + "%", Color.LIME);
AddLabel(yes, "Sell %: " + Round(sellPct, 1) + "%", Color.Orange);

Joshua, I am by no means an indicator expert. Looking at the original script, can you explain to me the from where (time-wise) the script is calculating and presenting the data from? If it helps my chart viewing is typically set at 1D:1M.

Thanks!

 

[Joshua]

It'll calculate based on which ever setting you select under SetAgg.

But, secondary aggregations can only go higher, not lower. So if the chart itself is something like 30 minutes, but you select 5 minutes as SetAgg, it won't work. In that case, it will just default to the chart's native aggregation of 30 minutes to avoid throwing an script error.

The original script also only calculated based on today's data exclusively. Therefore, if you were to select Daily or higher, it would only be calculating based on a single bar, which is pointless... So, I removed that condition for Daily+ aggregations.. it just uses length of the chart in those cases. But, I suppose that if you're only using one day's worth of one minute bars, it reintroduces the problem.

I can probably add a second input, for a length of Days/Weeks/Moths, which could extract data from beyond the beginning of the chart if those aggregations are used as the SetAgg setting. Again, it depends on how you would prefer it handled though.

 

[Bear.22]

It'll calculate based on which ever setting you select under SetAgg.

But, secondary aggregations can only go higher, not lower. So if the chart itself is something like 30 minutes, but you select 5 minutes as SetAgg, it won't work. In that case, it will just default to the chart's native aggregation of 30 minutes to avoid throwing an script error.

The original script also only calculated based on today's data exclusively. Therefore, if you were to select Daily or higher, it would only be calculating based on a single bar, which is pointless... So, I removed that condition for Daily+ aggregations.. it just uses length of the chart in those cases. But, I suppose that if you're only using one day's worth of one minute bars, it reintroduces the problem.

I can probably add a second input, for a length of Days/Weeks/Moths, which could extract data from beyond the beginning of the chart if those aggregations are used as the SetAgg setting. Again, it depends on how you would prefer it handled though.

Thanks Joshua, going to pay around a bit with your code.