Climatic Volume Indicator for ThinkorSwim

BenTen

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)



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

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.
 
A

asragov

New 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 ....
 
BenTen

BenTen

Administrative
Staff
VIP
@asragov Can you post a screenshot of you're referring to?
 
A

asragov

New member
2019 Donor
VIP


Seems to have potential to look at stochastic extremes in conjunction with volume climaxes
 
BenTen

BenTen

Administrative
Staff
VIP
@asragov Left click on the chart > Chart Scale > Untick Fit to Studies
 
A

asragov

New member
2019 Donor
VIP
Got it - apologies for that - thanks, looks promising
 
horserider

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

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 ?
 
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