Hawkeye Volume Indicator for ThinkorSwim

[BenTen]

A volume indicator developed by Nigel Hawks to show bullish, bearish, and neutral sentiment. There aren't many documentations about it, but I found a YouTube video and a post from Hawkeye Traders that might be useful.

• Green volume bars = bullish
• Red volume bars = bearish
• Gray volume bars = neutral

Credit also goes to LazyBear from TradingView.

thinkScript Code

# HawkEye Volume Indicator
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/gci6llVF-Indicator-HawkEye-Volume-Indicator/

declare lower;

input length = 200;
input divisor = 3.6;
def range = high - low;
def rangeAvg = simpleMovingAvg(range, length);
def volumeA = simpleMovingAvg(volume, length);

def high1 = high[1];
def low1 = low[1];
def mid1 = hl2[1];

def u1 = mid1 + (high1 - low1) / divisor;
def d1 = mid1 - (high1 - low1) / divisor;

def r_enabled1 = (range > rangeAvg) and(close<d1) and volume > volumeA;
def r_enabled2 = close < mid1;
def r_enabled = r_enabled1 or r_enabled2;

def g_enabled1 = close > mid1;
def g_enabled2 = (range > rangeAvg) and(close > u1) and(volume > volumeA);
def g_enabled3 = (high > high1) and(range<rangeAvg/1.5) and(volume<volumeA);
def g_enabled4 = (low < low1) and(range<rangeAvg/1.5) and(volume > volumeA);
def g_enabled = g_enabled1 or g_enabled2 or g_enabled3 or g_enabled4;

def gr_enabled1 = (range > rangeAvg) and(close > d1) and(close<u1) and(volume > volumeA) and(volume<volumeA*1.5) and(volume > volume[1]);
def gr_enabled2 = (range < rangeAvg / 1.5) and(volume<volumeA/1.5);
def gr_enabled3 = (close > d1) and(close<u1);
def gr_enabled = gr_enabled1 or gr_enabled2 or gr_enabled3;

plot histogram = volume;
histogram.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
histogram.assignValueColor(if gr_enabled then color.gray else if g_enabled then color.green else if r_enabled then color.red else color.white);

 

[Al_S]

Ben, so sorry.
I've imported the script, but nothing shows up on the chart (yes, it's in lower, and I can eve edit the parameters, but, still)

Any thoughts?

BTW, thanks so very much for scripting Hawkeye VSA!

 

[MerryDay]

@Al_S
The Future Indices and the Forex data channels do not include volume.
Volume for an index depends on the construction of the index -- the S&P is capitalization-weighted, so summed-constituent volume is not meaningful.
Therefore, Volume Indicators do not work with SPX

 

[Patshan]

Hi Ben,
I used this indicator on my old Tradestation platform. Is it possible to code for the heatmap? Being a visual vs. numbers trader, I found this to be the most helpful with Hawkeye. Thanks for all the work you do. It is profoundly helpful for a luddite like me.

 

[MerryDay]

@Patshan
https://usethinkscript.com/threads/how-to-enable-thermo-mode-for-thinkorswim.8575/

 

[Zetta_wow]

Update (7/12): nevermind. Sorry for the unnecessary post. I had reused a Custom Quote entry in the watchlist. The previous script was set for an intraday aggregation period, not daily. I thought I had changed that when I entered the new script, but apparently I forgot to do that. After fixing the script aggregation, it works.

I'm trying to create a watchlist column to show the current status of the Hawkeye Volume Indicator (HVI) - at least the color of the histogram bar. I've modified the code from post #1 in this thread, but it's not working consistently. Some stocks or indices give the correct result (when comparing to the study on a chart), but others are wrong. Can anyone help me figure out what's going on?

Examples from today (7/11/22, after market close):
Correct bar color shown in watchlist: GOOGL (red), AMZN (red), MSFT (gray)
Incorrect bar color shown in watchlist: NVDA (gray in WL, red on chart study), NFLX (green in WL, red on chart), TSLA (gray on WL, red on chart)

Here's the code I have for the watchlist column:

# HawkEye Volume Indicator
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/gci6llVF-Indicator-HawkEye-Volume-Indicator/

plot vol = volume;

def length = 200;
def divisor = 1.5;
def range = high - low;
def rangeAvg = simpleMovingAvg(range, length);
def volumeA = simpleMovingAvg(volume, length);

def high1 = high[1];
def low1 = low[1];
def mid1 = hl2[1];

def u1 = mid1 + (high1 - low1) / divisor;
def d1 = mid1 - (high1 - low1) / divisor;

def r_enabled1 = (range > rangeAvg) and(close < d1) and volume > volumeA;
def r_enabled2 = close < mid1;
def r_enabled = r_enabled1 or r_enabled2;

def g_enabled1 = close > mid1;
def g_enabled2 = (range > rangeAvg) and (close > u1) and (volume > volumeA);
def g_enabled3 = (high > high1) and(range < rangeAvg / 1.5) and (volume < volumeA);
def g_enabled4 = (low < low1) and (range < rangeAvg / 1.5) and (volume > volumeA);
def g_enabled = g_enabled1 or g_enabled2 or g_enabled3 or g_enabled4;

def gr_enabled1 = (range > rangeAvg) and (close > d1) and (close < u1) and (volume > volumeA) and (volume<volumeA * 1.5) and(volume > volume[1]);
def gr_enabled2 = (range < rangeAvg / 1.5) and (volume < volumeA / 1.5);
def gr_enabled3 = (close > d1) and (close < u1);
def gr_enabled = gr_enabled1 or gr_enabled2 or gr_enabled3;

AddLabel(yes, if gr_enabled then "Gray" else if g_enabled then "Green" else if r_enabled then "Red" else "White");
assignBackgroundColor(if gr_enabled then color.gray else if g_enabled then color.green else if r_enabled then color.red else color.white);

 

[samer800]

I'm trying to create a watchlist column to show the current status of the Hawkeye Volume Indicator (HVI) - at least the color of the histogram bar. I've modified the code from post #1 in this thread, but it's not working consistently. Some stocks or indices give the correct result (when comparing to the study on a chart), but others are wrong. Can anyone help me figure out what's going on?

Examples from today (7/11/22, after market close):
Correct bar color shown in watchlist: GOOGL (red), AMZN (red), MSFT (gray)
Incorrect bar color shown in watchlist: NVDA (gray in WL, red on chart study), NFLX (green in WL, red on chart), TSLA (gray on WL, red on chart)

Here's the code I have for the watchlist column:

# HawkEye Volume Indicator
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/gci6llVF-Indicator-HawkEye-Volume-Indicator/

plot vol = volume;

def length = 200;
def divisor = 1.5;
def range = high - low;
def rangeAvg = simpleMovingAvg(range, length);
def volumeA = simpleMovingAvg(volume, length);

def high1 = high[1];
def low1 = low[1];
def mid1 = hl2[1];

def u1 = mid1 + (high1 - low1) / divisor;
def d1 = mid1 - (high1 - low1) / divisor;

def r_enabled1 = (range > rangeAvg) and(close < d1) and volume > volumeA;
def r_enabled2 = close < mid1;
def r_enabled = r_enabled1 or r_enabled2;

def g_enabled1 = close > mid1;
def g_enabled2 = (range > rangeAvg) and (close > u1) and (volume > volumeA);
def g_enabled3 = (high > high1) and(range < rangeAvg / 1.5) and (volume < volumeA);
def g_enabled4 = (low < low1) and (range < rangeAvg / 1.5) and (volume > volumeA);
def g_enabled = g_enabled1 or g_enabled2 or g_enabled3 or g_enabled4;

def gr_enabled1 = (range > rangeAvg) and (close > d1) and (close < u1) and (volume > volumeA) and (volume<volumeA * 1.5) and(volume > volume[1]);
def gr_enabled2 = (range < rangeAvg / 1.5) and (volume < volumeA / 1.5);
def gr_enabled3 = (close > d1) and (close < u1);
def gr_enabled = gr_enabled1 or gr_enabled2 or gr_enabled3;

AddLabel(yes, if gr_enabled then "Gray" else if g_enabled then "Green" else if r_enabled then "Red" else "White");
assignBackgroundColor(if gr_enabled then color.gray else if g_enabled then color.green else if r_enabled then color.red else color.white);

i use this

# HawkEye Volume Indicator
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/gci6llVF-Indicator-HawkEye-Volume-Indicator/
input length = 200;
input divisor = 3.6;
def range = high - low;
def rangeAvg = simpleMovingAvg(range, length);
def volumeA = simpleMovingAvg(volume, length);

def high1 = high[1];
def low1 = low[1];
def mid1 = hl2[1];

def u1 = mid1 + (high1 - low1) / divisor;
def d1 = mid1 - (high1 - low1) / divisor;

def r_enabled1 = (range > rangeAvg) and(close < d1) and volume > volumeA;
def r_enabled2 = close < mid1;
def r_enabled = r_enabled1 or r_enabled2;

def g_enabled1 = close > mid1;
def g_enabled2 = (range > rangeAvg) and(close > u1) and(volume > volumeA);
def g_enabled3 = (high > high1) and(range<rangeAvg/1.5) and(volume<volumeA);
def g_enabled4 = (low < low1) and(range<rangeAvg/1.5) and(volume > volumeA);
def g_enabled = g_enabled1 or g_enabled2 or g_enabled3 or g_enabled4;

def gr_enabled1 = (range > rangeAvg) and(close > d1) and(close<u1) and(volume > volumeA) and(volume<volumeA*1.5) and(volume > volume[1]);
def gr_enabled2 = (range < rangeAvg / 1.5) and(volume<volumeA/1.5);
def gr_enabled3 = (close > d1) and(close<u1);
def gr_enabled = gr_enabled1 or gr_enabled2 or gr_enabled3;

def avgvol = volume(Period = aggregationPeriod.DAY);

assignbackgroundColor(if gr_enabled then color.gray else if g_enabled then color.green else if r_enabled then color.red else color.white);

addlabel( yes, ROUND(avgvol/1000,0) +"M", Color.Black);