Candle Volume segments?

[MFitz73]

Hi guys, is there a way to capture volume on only parts of a candle?
For example, have 3 variables.
1. only the volume that makes up the open and close
2. only the volume that makes up High and close
3. only the volume that makes up the low and the close

Having this information could be useful for spotting developing reversals or
trend strength in real time.
thank you for any replies.
Mike

 

[MerryDay]

Hi guys, is there a way to capture volume on only parts of a candle?
For example, have 3 variables.
1. only the volume that makes up the open and close
2. only the volume that makes up High and close
3. only the volume that makes up the low and the close

Having this information could be useful for spotting developing reversals or
trend strength in real time.
thank you for any replies.
Mike

Yes, it is called Volume Pressure.
You will find many variations here:
https://usethinkscript.com/threads/...ssure-indicators-labels-for-thinkorswim.8466/

And if those 101 flavors are not what you are looking for, here are more:
https://usethinkscript.com/tags/buysellpressure/

 

[MFitz73]

Yes, it is called Volume Pressure.
You will find many variations here:
https://usethinkscript.com/threads/...ssure-indicators-labels-for-thinkorswim.8466/

And if those 101 flavors are not what you are looking for, here are more:
https://usethinkscript.com/tags/buysellpressure/

hey thank you! I will start going through them now!

 

[halcyonguy]

Hi guys, is there a way to capture volume on only parts of a candle?
For example, have 3 variables.
1. only the volume that makes up the open and close
2. only the volume that makes up High and close
3. only the volume that makes up the low and the close

Having this information could be useful for spotting developing reversals or
trend strength in real time.
thank you for any replies.
Mike

i am going to disagree and say no, you can't read data from a partial candle.

if your chart time was 10 minutes, you could have another chart at 1 minute, and look at the bars near the approx time of the 10 min open, hi , lo, close, and read volume.
you would have to look at a shorter

 

[JIMBO1984]

Added the ThinkScript study Buy/Sell Volume. Is it is the greatest for each candle but It seems to me that it lags tremendously. I'll see buy volume up by 80 to 100% for 10 seconds straight and the candle tur s red and price drops?

 

[MerryDay]

Added the ThinkScript study Buy/Sell Volume. Is it is the greatest for each candle but It seems to me that it lags tremendously. I'll see buy volume up by 80 to 100% for 10 seconds straight and the candle tur s red and price drops?

This thread discusses a concept not any one indicator. As you did not provide a script with your comment;
it is not possible to give specific assistance.

ToS's data feeds do not provide actual buying and selling volume.
In volume pressure, the price action to volume calculations provide best guesses.

Yes, it is an imperfect system. Yes, it is volatile. This is a candle by candle snapshot therefore no, it does not lag.

Keep in mind that previous candle has no weight on what happens on the next.
Volume pressure needs to be reviewed in totality along with your other indicators and on your other timeframes to get a complete picture.