Critical Volume Bars for ThinkorSwim

BenTen

Administrative
Staff member
Staff
VIP
Lifetime
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

5qe5dBq.png


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);
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

@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
 
@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);
 
5qe5dBq.png


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);
Anyone know how to add horizontal (red/green) clouds to these high volume bars?
 
Anyone know how to add horizontal (red/green) clouds to these high volume bars?
The ToS platform requires definitions of the variables that would trigger the clouds and colors.
What are your variable definitions?
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
444 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top