Climatic Volume Indicator for ThinkorSwim

BenTen

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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);
 

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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.
 
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 ....
 
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.
 
@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 ?
 
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
 
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...
 
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
 
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.
 
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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