Critical Volume Bars for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
Hello, this indicator looks for bars with significant average median volume, but only bars with an average median volume greater than 62% of the maximum detected in 89 previous bars will be painted, the detection of this event indicates a relevant supply and demand zone, which can be used as support / resistance, is a good tool for negotiation with price action, greetings


thinkScript Code (With Lower Study and Paint Bars)

Code:
# CRITICAL VOLUME X
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/KT6klFAT-CRITICAL-VOLUME-X/

declare lower;

def volmax = highest(volume, 89);
def vol = volume * 100 / volmax * 4 / 5;
def volpmed = expAverage(vol, 21);
def hvpm = vol - volpmed;
def niv_crit = highest(hvpm, 89) * 0.618;

def x = hvpm > 0 and hvpm >= niv_crit;

assignPriceColor(if x then color.white else color.current);

plot histogram = hvpm;
histogram.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
histogram.assignValueColor(if hvpm > 0 and hvpm<niv_crit then color.blue else if hvpm > 0 and hvpm >= niv_crit then color.red else color.white);

thinkScript Code (Without the Lower Study. Only Paint Bars)

Code:
# CRITICAL VOLUME X
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/KT6klFAT-CRITICAL-VOLUME-X/

def volmax = highest(volume, 89);
def vol = volume * 100 / volmax * 4 / 5;
def volpmed = expAverage(vol, 21);
def hvpm = vol - volpmed;
def niv_crit = highest(hvpm, 89) * 0.618;

def x = hvpm > 0 and hvpm >= niv_crit;

assignPriceColor(if x then color.white else color.current);
 
N

Nick

Active member
2019 Donor
VIP
@BenTen may i know if this can be convert to a scan? I tried to configure but it does not allow me to tell the scanner to find the candle with that critical volume. Seek your advice or anyone who can help. Thank you
 
Oxford896

Oxford896

New member
@BenTen Is there any to add arrow or multicolor(for example, half original color and half white) on the critical price and vol bars instead of coloring the whole thing as white? Literately, it is still very helpful to look at the green/red color to follow the trend. Thanks.
 
BenTen

BenTen

Administrative
Staff
VIP
@Nick Add this to your script then scan for the arrow. @Oxford896 If you just want arrows, add the code below to your script as well and you can remove the assignPriceColor(if x then color.white else color.current); line.

Code:
# Plot Arrow
plot arrow = x;
arrow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
arrow.SetDefaultColor(Color.CYAN);
arrow.SetLineWeight(1);
 
D

dav_olsen

New member
Sorry for the newb question, why would you need this? I know its a total newb question.. don't flog me lol
 
L

LennyZ1

New member
Hi, is there a way to color say 10 of the highest volume bars within the time frame of the chart white and plot price? For example, want the 10 highest volume bars within 180 days hourly chart and plot that high price with a line. If several of the volume bars have the same price, make that line thicker. The same will happen if i change to say the 3Y Weekly chart. Thanks.
 
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