Mixed Volume Indicator for ThinkorSwim

Shinthus

Shinthus

Member
VIP
Here is mixed volume that shows the buying/selling in each individual volume bar. Be careful adding any more volume indicators on top of this one, like VolumeAvg. Everything else tends to cancel it out. Best used alone in the "volume" section of the studies.

I typically use this to refine my decisions whether to go long or short. It also helps to determine whether to stay in a trade or get out if you see red volume increasing in a long position or green volume while holding a short position. Please note: a candlestick can be green but the bar can be mostly red, and vice versa. It's a true, leading indicator of which side is taking control.



 
W

webtolight

New member
I was thinking maybe if the indicator could possibly plot the volume average as a line across the indicator, that would be great!
 
markos

markos

Well-known member
VIP
Warehouse
I was thinking maybe if the indicator could possibly plot the volume average as a line across the indicator, that would be great!
that is a built in indicator. get acquainted with the manual, there are over 400 baked in indicators.
Code:
#
# TD Ameritrade IP Company, Inc. (c) 2007-2019
#

declare lower;
declare zerobase;

input length = 50;

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));
#end
 

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