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Climatic Volume Indicator for ThinkorSwim

BenTen

Administrative
Staff
VIP
Found this one to be quite interesting, so I converted it over to ThinkorSwim. I also added paintbars (turned off by default) to highlight climatic volume bars.

  • Climate volume detection
  • Relative volume value in bar
  • Automatic zone generation (possibility of configuration)

J7iXpWt.png

a3S3G1K.png


thinkScript Code

Code:
# Climatic Volume X
# Converted by BenTen at useThinkScript.com
# Original https://www.tradingview.com/script/rNEj0sM2-Climatic-Volume-X/

# Cloud Zone Code adopted from Larthomp's 'Big Bar Breakout' indicator
input limit_cloud_length = yes;
input cloud_length = 10;
input paintbar = no;
input Length = 10;
def AverageVolume = simpleMovingAvg(volume, Length);
def RelativeVolume = volume / AverageVolume;
input HighVolume = 2;

def a = RelativeVolume > HighVolume;

def climatice_vol = if a then 1 else 0;
def vol_high = if climatice_vol then high else vol_high[1];
def vol_low = if climatice_vol then low  else vol_low[1];
def vol_length = if climatice_vol then 1 else vol_length[1] + 1;
plot vol_hh = if limit_cloud_length == no or limit_cloud_length == yes and vol_length <= cloud_length then vol_high
else Double.NaN;
plot vol_ll = if limit_cloud_length == no or limit_cloud_length == yes and vol_length <= cloud_length then vol_low
else Double.NaN;
vol_hh.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
vol_ll.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
vol_hh.SetDefaultColor(Color.GRAY);
vol_ll.SetDefaultColor(Color.GRAY);

assignPriceColor(if paintbar and a then color.blue else color.current);
 

zeek

Active member
2019 Donor
Looks interesting but not really sure how to interpret the climate bars & zone areas. Some examples of how to use this study would be much welcome.

Thanks @BenTen for the study.
 

asragov

Member
2019 Donor
VIP
Hi - on a 1 hour or daily chart, it seems to plot zero at the beginning of the chart, which throws off the chart a bit ....
 

horserider

Well-known member
VIP
Thrust bars is another study doing the same idea. But allows the setting of the % increase in volume to plot the bars.
@zeek Believe the idea is to wait for the price to break above or below the plotted boundary lines.
 

JADragon3

New member
@BenTen Hi Ben. I was hoping to ask for a favor if at all possible.

I really like this indicator and have been testing it out for the past two or three weeks. I especially like that it draws support and resistance zones(basically) when climatic volume is detected.

My question is , can you modify this to draw support/resistance with specified volume instead of climatic volume ? Anywhere from one to one million to one hundred million shares specified. Is that possible ? Am I making sense ?
 

cswu1211

Member
VIP
What does it mean for "Input Length = 10" and "input HighVolume = 2"; Is there anyway to modify the study to find the 30D, 120D look back period for Climatic volume? tks
 

rad14733

Well-known member
VIP
To bring RSI onto the upper study with price chart, just change the RSI script
And declare it a upper will do?!

Or just drag it up or use arrows to move it up in the Chart Study list... I do this all the time with my custom RSI indicator, and sometimes a few other indicators... No real need to edit the code itself unless you want it to be a permanent change...
 

cswu1211

Member
VIP
Or just drag it up or use arrows to move it up in the Chart Study list... I do this all the time with my custom RSI indicator, and sometimes a few other indicators... No real need to edit the code itself unless you want it to be a permanent change...
Tks again
 

Dgrusak

New member
what does "input HighVolume = 2" mean?
The input HighVolume is a scalar multiple (with units volume/volume), which compares the current volume to the average daily volume (ADV) with a defined look-back period. For this system setting the high volume trigger to fire when the current volume is greater than or equal to twice the average daily volume is a good starting point.
 

cswu1211

Member
VIP
The input HighVolume is a scalar multiple (with units volume/volume), which compares the current volume to the average daily volume (ADV) with a defined look-back period. For this system setting the high volume trigger to fire when the current volume is greater than or equal to twice the average daily volume is a good starting point.
tks
 

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