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There is a video by Hahn Tech LLC that is very detailed allowing you to build indicators in any Watchlist.. It illustrates how certain indicators can be adapted to WatchList I found it useful but not not easily done at first. {Personally I use other alerts, instead,using the marketwatch gadget on TOS- and putting it in detached mode.} Here is the link to the instructions for adopting indicators for watchlist and/or marketwatch. It's a work in progress to customize your TOS platform. see this link https://www.hahn-tech.com/category/tos/watchlists-tos//// when I first started I was overwhelmed and intimidated as a self taught humble hacker. Hope that helps, Best to all
def buyvol = Round(((high - open) + (close - low)) / 2 / (high - low) * volume(), 0);
def sellvol = Round(((low - open) + (close - high)) / 2 / (high - low) * volume(), 0);
def buyvolper = buyvol / volume() * 100;
def sellvolper = absValue(sellvol) / volume() * 100;
addLabel(yes, "Total Volume: " + volume(), color.LIGHT_GRAY);
addLabel(yes, "Buy Volume: " + buyvol, color.GREEN);
addLabel(yes, "Sell Volume: " + absValue(sellvol), color.RED);
addLabel(yes, "BVP%: " + buyvolper, color.GREEN);
addLabel(yes, "SVP%: " + sellvolper, color.RED);Are there any ways to have the buy/sell add up just like total volume instead of increasing and decreasing. This gif is from a daily candle chart
Code:def buyvol = Round(((high - open) + (close - low)) / 2 / (high - low) * volume(), 0); def sellvol = Round(((low - open) + (close - high)) / 2 / (high - low) * volume(), 0); def buyvolper = buyvol / volume() * 100; def sellvolper = absValue(sellvol) / volume() * 100; addLabel(yes, "Total Volume: " + volume(), color.LIGHT_GRAY); addLabel(yes, "Buy Volume: " + buyvol, color.GREEN); addLabel(yes, "Sell Volume: " + absValue(sellvol), color.RED); addLabel(yes, "BVP%: " + buyvolper, color.GREEN); addLabel(yes, "SVP%: " + sellvolper, color.RED);
#hint: Buy_Sell_Percent_Label - Created by @uptwobucks . This Volume Label measures the percentage of buys and sells live. Wait for the buys to outnumber the sells (Turns Green) then make your decision.
declare upper;
input Show_Labels = yes;
def O = open;
def H = high;
def C = close;
def L = low;
def V = volume;
def Buying = V * (C - L) / (H - L);
def Selling = V * (H - C) / (H - L);
def OL = open[1];
def HL = high[1];
def CL = close[1];
def LL = low[1];
def VL = volume[1];
def LBuying = VL * (CL - LL) / (HL - LL);
def LSelling = VL * (HL - CL) / (HL - LL);
def totVol = Round(Buying, 0) + Round(Selling, 0) ;
def buyPercent = ( Round(Buying, 0) / totVol ) * 100;
def sellPercent = ( Round(Selling, 0) / totVol ) * 100;
AddLabel(Show_Labels, "Total Vol: " + volume(period = AggregationPeriod.DAY), Color.WHITE);
#Volume of Current Bar
AddLabel(yes, "CurrentBar Vol: " + volume, Color.LIGHT_GREEN);
#Volume of the Last Bar
AddLabel(yes, "LastBar Vol: " + volume[1], Color.LIGHT_ORANGE);
AddLabel(Show_Labels, " BUYERS: " + Round(Buying, 0) + " -- " + Round(buyPercent, 0) + "%" , if Buying > Selling then Color.LIGHT_GREEN else Color.BLACK);
AddLabel(Show_Labels, " SELLERS: " + Round(Selling, 0) + " -- " + Round(sellPercent, 0) + "%" , if Selling > Buying then Color.LIGHT_RED else Color.BLACK);Are there any ways to have the buy/sell add up just like total volume instead of increasing and decreasing. This gif is from a daily candle chart
Code:def buyvol = Round(((high - open) + (close - low)) / 2 / (high - low) * volume(), 0); def sellvol = Round(((low - open) + (close - high)) / 2 / (high - low) * volume(), 0); def buyvolper = buyvol / volume() * 100; def sellvolper = absValue(sellvol) / volume() * 100; addLabel(yes, "Total Volume: " + volume(), color.LIGHT_GRAY); addLabel(yes, "Buy Volume: " + buyvol, color.GREEN); addLabel(yes, "Sell Volume: " + absValue(sellvol), color.RED); addLabel(yes, "BVP%: " + buyvolper, color.GREEN); addLabel(yes, "SVP%: " + sellvolper, color.RED);
Code:input bubbleoffset = 3; def buyvol = Round(((high - open) + (close - low)) / 2 / (high - low) * volume(), 0); def sellvol = Round(((low - open) + (close - high)) / 2 / (high - low) * volume(), 0); def buyvolper = buyvol / volume() * 100; def sellvolper = AbsValue(sellvol) / volume() * 100; def last = !IsNaN(close) and IsNaN(close[-1]); def prev = !IsNaN(close[1]) and IsNaN(close[-2]); AddChartBubble(last or prev, if last then high + TickSize() * bubbleoffset else low - TickSize() * bubbleoffset, "Total Volume: " + volume(), Color.LIGHT_GRAY, if last then yes else no); AddChartBubble(last or prev, if last then high + TickSize() * bubbleoffset else low - TickSize() * bubbleoffset, "Sell Volume: " + AbsValue(sellvol), Color.RED, if last then yes else no); AddChartBubble(last or prev, if last then high + TickSize() * bubbleoffset else low - TickSize() * bubbleoffset, "Buy Volume: " + buyvol, Color.GREEN, if last then yes else no);
Added current candle and last candle to script found:
this is awesome! I have custom candles I use is there anyway to put those in place of the HeikinAshi?Volume drives price.
The thinking is to filter your corral of eligible stocks by the standard of Average(volume,50) > 1000000. Thus making sure you are picking the stocks being traded by the Industrial Traders and Algos as they are who move markets. AND THEN look at the buying /selling percentages to see who is in charge.
I keep the Chris Enhanced Labels on my chart, gives me totally daily volume and who is in charge by percentage. I overlay my labels on the Better Volume Indicator as modified by @netarchitech so I can eyeball unusual activity.
Everyone should choose the volume indicator that best suits their style. I use @netarchitech because I am a Price Action Trader which he incorporates into his script.
Read more about Better Volume: https://usethinkscript.com/threads/better-volume-indicator-for-thinkorswim.108/
Read more about Price Action: https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
My Chris Enhanced Labels:
Ruby:#Chris' Enhanced Volume V.2 /w Uptick/Downtick #streamlined by @MerryDay 2/2020 only displays Daily Volume and who is in charge declare lower; declare real_size ; ############################## # UPTICK / DOWNTICK CRITERIA # ############################## input VolAgg = AggregationPeriod.DAY ; def Buying = volume * (close - low) / (high - low); def Selling = volume * (high - close) / (high - low); def DailyVol = volume("period" = VolAgg); def AvgVol = Average(DailyVol,50) ; ################# # Formatting ################# DefineGlobalColor("LabelGreen", CreateColor(0, 165, 0)) ; AddLabel(yes, "AvgVol = " +Round(AvgVol,0) +" | " +"DailyVol = " + Round(DailyVol, 0), color.violet); AddLabel(buying>selling, "Buy %: " + Round((Buying/(Buying+Selling))*100,2) , GlobalColor("LabelGreen")); AddLabel(selling>buying, "Sell %: " + Round((Selling/(Selling+Buying))*100,2) , color.RED); plot scan = Buying > Selling ; scan.hide();
The buying selling volume pressure scripts in this thread are lower studies.
These labels are great, but may have found an error in the tally. At "market open" shouldn't all time frames match in volume? I'm getting different counts on 1hour, 2hour and 10 minutes right as the market opens. Forgot to mention that this is at the very beginning of a new week also. I have the weekly, daily, hourly and 10 minute charts on my desktop. So during the first 10 minutes all charts should show the same volume until 10 minutes go by, then the only different volume should be the 10 minute chart as it goes into the 2nd 10 minute time frame, but the hourly, daily and weekly should all reflect the same volume.
# BUYERS INDICATOR WITH LABELS
#################################################################
AddLabel(yes, "This: " + volume, Color.yellow);
AddLabel(yes, "Last: " + volume[1], color.yellow);
input startTime = 0400;
input endTime = 0929;
def startCounter = SecondsFromTime(startTime);
def endCounter = SecondsTillTime(endTime);
def targetPeriod = if startCounter >= 0 and endCounter >= 0 then 1 else 0;
rec volumeTotal = if targetPeriod and !targetPeriod[1] then volume else if targetPeriod then volumeTotal[1] + volume else volumeTotal[1];
declare lower;
def O = open;
def H = high;
def C = close;
def L = low;
def V = volume;
def Buying = V * (C - L) / (H - L);
def Selling = V * (H - C) / (H - L);
plot BV = Buying;
BV.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
BV.SetDefaultColor(Color.GREEN);
BV.HideTitle();
BV.HideBubble();
BV.SetLineWeight(1);
plot SV = Selling;
SV.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
SV.SetDefaultColor(Color.RED);
SV.HideTitle();
SV.HideBubble();
SV.SetLineWeight(1);
plot VolumeHistogram = volume;
VolumeHistogram.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
VolumeHistogram.SetDefaultColor(Color.BLUE);
VolumeHistogram.HideTitle();
VolumeHistogram.HideBubble();
VolumeHistogram.SetLineWeight(5);
# Average Volume Line
def AverageVolume = Average(VolumeHistogram, 50);
plot AverageVolumeLine = AverageVolume;
AverageVolumeLine.SetDefaultColor(Color.GRAY);
AverageVolumeLine.SetStyle(Curve.FIRM);
# Label indicating Buyers/Sellers Volume
def isBuyersVolumeGreater = BV > SV;
def isSellersVolumeGreater = SV > BV;
AddLabel(yes, if isBuyersVolumeGreater then "Buyers Volume > Sellers Volume" else if isSellersVolumeGreater then "Sellers Volume > Buyers Volume" else "Buyers Volume = Sellers Volume",
if isBuyersVolumeGreater then Color.GREEN else if isSellersVolumeGreater then Color.RED else Color.YELLOW);
# Buyer and Seller Percentage Labels
def TotalVolume = VolumeHistogram + AverageVolume;
def BuyerPercentage = Buying / TotalVolume * 100;
def SellerPercentage = Selling / TotalVolume * 100;
AddLabel(yes, "Buyer %: " + Round(BuyerPercentage, 2) + "%", Color.GREEN);
AddLabel(yes, "Seller %: " + Round(SellerPercentage, 2) + "%", Color.RED);
# Current Candle Volume Label
#def CurrentCandleVolume = if targetPeriod then VolumeHistogram else Double.NaN;
#AddLabel(yes, "Current Candle Volume: " + AsText(CurrentCandleVolume), Color.WHITE);
# Last Candle Volume Label
#def LastCandleVolume = if targetPeriod[1] then VolumeHistogram[1] else Double.NaN;
#AddLabel(yes, "Last Candle Volume: " + AsText(LastCandleVolume), Color.WHITE);Going to Test this live and see how things go. Looks pretty promising running it through futures
It is the only volume indicator I use now. I scalp so it has been a game changer for me.
I scalp to day trade and yea this is arguably one of the better volume indicators, when you pair with the options chart it’s amazing.
## VPA CANDLE COLORS
## By richard_the_red
## This script will make candles with more relative volume brighter
# and with less relative volume less visually important.
# It also colors candles based on selling vs buying volume percentage rather than open/close.
# This means you can have orange or yellow candles
# if the volume is a more even mix of buying and selling.
## Yellow dots in the candle body mean that it is significant volume for that candle,
# rvsd is greater than Standard_Deviations.
## NOTE: if you change your appearance settings for volume bars
# to color them using candle color then they will also show the VPA colors,
# this saves on performance so you don't have to use the old VPA Volume Colors script as well.
declare upper; # only applies to candles in the main chart
declare once_per_bar; # reduces computation time dramatically at the expense of not calculating current bar color, just uses default
## The length of our MA for volume, here defaults to the last 20 candles
input only_show_below = AggregationPeriod.FIFTEEN_MIN;
input SMA_Length = 20; # how many bars to calculate RVSD
input Standard_Deviations = 1.0; # default number of SD threshold, 1 is 65% 2 is 95%
input max_transparency_percent = 50; # so you can turn off volume-based opacity if you want, make it 100
def opacity = (max_transparency_percent / 100) * 255;
DefineGlobalColor("dot", color.mAGENTA);
def L = low;
def C = close;
def O = open;
def H = high;
def V = volume;
# See if this is the current candle so we can skip coloring it for performance reasons
def isLatestBar = !IsNaN(close) && IsNaN(close[-1]);
## Originally Developed by Melvin E. Dickover, the Relative Volume Standard Deviation is calculated over the SMA_Length kind of like a moving average but more complicated. RCB uses this in his enhanced volume script.
def rvsd = RelativeVolumeStDev(length = SMA_Length);
def isRvsd = rvsd >= Standard_Deviations;
def rvsdhigh = Highest(rvsd, SMA_Length);
def base_opacity = ((rvsd / rvsdhigh) * (255 - opacity)) + opacity; # completely transparent candles are useless
def cvalcur = if isRvsd then 255 else if isNaN(base_opacity) then opacity else base_opacity; # significant bars are always brighter
## Color candles on a gradient from green if buying volume is greater than selling, to red if selling volume is greater than buying.
## Note that the opacity of the candle is based on Relative Volume Standard Deviation (SMA_Length price vs volume)
def Buying = v * ((c - l) / (h - l));
def Selling = v * ((h - c) / (h - l));
def Percent = AbsValue(Buying - Selling) / v;
def Percent_Buying = Buying / v;
def pctgreen = Percent_Buying * cvalcur;
def Percent_Selling = Selling / v;
def pctred = Percent_Selling * cvalcur;
def Red =
if ( # if candle is flat then check last for color else use pct
(h == l),
if (c < c[1], 255, 120),
if ( pctred > 255, 255, if (pctred < 0, 0, pctred) )
);
def Green =
if ( # if candle is flat then check last for color else use pct
(h == l),
if (c > c[1], 255, 120),
if ( pctgreen > 255, 255, if (pctgreen < 0, 0, pctgreen) )
);
def Blue = if (isRvsd, 40, 30); # Make slight blue tint to soften the color
## Now color the candle. Modifying the green value slightly as it doesn't show up as well as red
AssignPriceColor(if isLatestBar OR only_show_below <= GetAggregationPeriod() then color.current else CreateColor(Red, Green, Blue));
plot rvsd_dot = if (isRVSD, Max(o, c) - (BodyHeight() / 2), double.NaN);
rvsd_dot.setPaintingStrategy(paintingStrategy.POINTS);
rvsd_dot.assignValueColor(GlobalColor("dot"));
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