Mixed Volume Indicator for ThinkorSwim

[Shinthus]

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.

https://tos.mx/H582pK

 

[webtolight]

Thank you for this!

 

[Shinthus]

Thank you for this!

You're welcome!

 

[webtolight]

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

 

[Shinthus]

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

Agreed. I can't code, though. Someone would have to do that for us.

 

[markos]

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.

#
# 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

 

[markos]

This one adds labels that are active during RTH:
Yesterday's Volume vs Today's Volume at Same Time Indicator

 

[webtolight]

That was easy! Thank you so much @markos

 

[tomsey]

Hello Everyone,

I have the colored volume bars (green & red) in the upper area from the study/script (in place of the "built-in" blue bars) with my price candles, is there any way to move them "behind" the price candles?

When I have volume spikes for a particular candle, the green/red volume bars will cover the price candle....

If I was in PowerPoint, I would use the "Send to back" function...

 

[rad14733]

@tomsey Check out my Thinkscript Plot Hierarchy topic to see if it is of help to you...

 

[Fluideng]

Agreed. I can't code, though. Someone would have to do that for us.

I cant code yet either but I added the Average line to the Mixed Volume from the Code markos posted. I think it plots correctly.

declare on_volume;

def O = open;
def H = high;
def C = close;
def L = low;
def V = volume;
def Buying = V*(C-L)/(H-L);
def Selling = V*(H-C)/(H-L);

# Selling Volume
Plot SV = selling;
SV.setPaintingStrategy(PaintingStrategy.Histogram);
SV.SetDefaultColor(Color.Red);
SV.HideTitle();
SV.HideBubble();
SV.SetLineWeight(5);

# Buying Volume
# Plot BV = Buying;
# Note that Selling + Buying Volume = Volume.
input length = 50;
Plot BV = volume;
plot VolAvg = Average(volume, length);
BV.setPaintingStrategy(PaintingStrategy.Histogram);
BV.SetDefaultColor(Color.Dark_Green);
BV.HideTitle();
BV.HideBubble();
BV.SetLineWeight(5);
VolAvg.SetDefaultColor(GetColor(8));

 

[tomsey]

@tomsey Check out my Thinkscript Plot Hierarchy topic to see if it is of help to you...

Thank you for posting this...

Unfortunately, in this particular case, I can't get the colored volume bars behind the price candles... and I've moved the study to every position in the "Price" and "Volume" sections... when I "Edit" the studies....

 

[rad14733]

Thank you for posting this...

Unfortunately, in this particular case, I can't get the colored volume bars behind the price candles... and I've moved the study to every position in the "Price" and "Volume" sections... when I "Edit" the studies....

No, I don't think that is possible on a chart... You can change Study layer priority but the Candles are layer zero with all other layers on top...

 

[MatthewTherrien]

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.

https://tos.mx/H582pK

Hi - I placed this 'alone' in the volume section per your instruction above - and the indicator did not appear on the chart - Please see screenshot -

So I then moved it into 'Lower' section and then the indicator appeared - Please see screenshot

Looks to be very useful indicator - thank you!

 

[Fluideng]

@MatthewTherrien I combined the Average line with the Mixed Volume indicator: http://tos.mx/EAJXOl2

 

[MatthewTherrien]

@Fluideng Yes I saw that - I am not sure what the Average line is telling me ?

 

[Tony909]

Is there a way to show (display) the actual percentage of buying and selling pressure for each bar? Also is it possible to add an alert if the volume crosses the Average Line?

 

[JoshReardon]

Anyone seem to be having trouble with the volume bars updating properly? I've been using it for a couple weeks now and I'll notice sometimes entire bars will be red or green and it wouldn't really make sense for the chart, and when I reload the chart the proper bars appear.

For example:

 

[Tony909]

Anyone seem to be having trouble with the volume bars updating properly? I've been using it for a couple weeks now and I'll notice sometimes entire bars will be red or green and it wouldn't really make sense for the chart, and when I reload the chart the proper bars appear.

This happened to me once a few weeks ago but it has not happened since.

 

[JoshReardon]

This happened to me once a few weeks ago but it has not happened since.

Seems to be happening to me way too often lol.