Buy Sell Spread PERCENTAGE

MartenDavis

New member
I have been looking for a while for a percentage output of the Buy/Sell relationship. I have had no success finding such. I think that such an indicator would be very useful.

Anyone know of such an indicator?

Thanking all in advance....

Marten
 
Solution
Please expand on the concept of "Buy/Sell relationship" in detail. I can only guess as to what that means.

But for now, I can list off a few things that are common in similarly worded questions.

If you're looking for something like "buying volume" and "selling volume," there is really no such thing, as all trades have a counter-party, which balances it out.

Therefore, the next natural solution is to seek the volume that hit the bid versus the volume that hit the ask. Thinkscript can not access or provide that information.

Alternatively, one might seek volume traded on an uptick versus on a down tick. This is more doable in thinkscript, but it involves a one-tick chart, making it highly impractical.

For any other alternatives...
Please expand on the concept of "Buy/Sell relationship" in detail. I can only guess as to what that means.

But for now, I can list off a few things that are common in similarly worded questions.

If you're looking for something like "buying volume" and "selling volume," there is really no such thing, as all trades have a counter-party, which balances it out.

Therefore, the next natural solution is to seek the volume that hit the bid versus the volume that hit the ask. Thinkscript can not access or provide that information.

Alternatively, one might seek volume traded on an uptick versus on a down tick. This is more doable in thinkscript, but it involves a one-tick chart, making it highly impractical.

For any other alternatives, it's fairly safe to say that Thinkscript is not capable of doing anything in this entire category. Thinkscript can not access anything like depth, level 2 either.

There is bookmap, though I have no idea what's going on with that now relative to Schwab. Contact support about it if you're interested, assuming it's still available.

Anyway, if the answer isn't already in there at least somewhere, please explain your question further.
 
Solution
@MartenDavis

@Joshua is the resident expert and as usual, his answer is detailed and exact.
What you are requesting is not possible within the ToS platform.

Members have settled for associating bullish movement with buyers and vice-a-versa and then assigning the associated volume. This is called Volume Pressure. There are dozens of Volume Pressure Indicators on the forum.
Here is an example:
https://usethinkscript.com/threads/jman-buy-and-sell-volume-pressure-for-thinkorswim.11739/

Here is another example with Buying & Selling Volume Pressure Percentage Labels:
https://usethinkscript.com/threads/...labels-for-thinkorswim.8466/page-3#post-97084
 

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