More detailed volume from lower timeframe

E

ecpipo

New member
Hello, I can't remember where but I once found a thinkscript that displayed volume bars as follows :

(On a 5m chart for example)
. the total amount of accumulated buy volume from a lower timeframe (1m)
. the total amount of accumulated sell volume from a lower timeframe (1m)
All on the same 5m histogram. (1 bar is split in 2 colors, red and green)

Can anybody point me to the right script ?
Thank you
 
markos

markos

Well-known member
VIP
Warehouse
@ecpipo give this a try...




Code:
#Shared by Jerry in TheoChat 8-2017
#HINT: This study color codes volume by amount of volume on up-tick versus amount of volume on down-tick

declare lower;

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.
 Plot BV =  volume;
 BV.setPaintingStrategy(PaintingStrategy.Histogram);
 BV.SetDefaultColor(Color.Dark_Green);
 BV.HideTitle();
 BV.HideBubble();
 BV.SetLineWeight(5);
 
E

ecpipo

New member
It isn't pulling data from a lower timeframe
BUT
it looks like it does exactly what I want

Thank you @markos !
 
H

horserider

Well-known member
VIP
Warehouse
I hope everyone is interpreting this indicator correctly. The histogram is showing total volume in dark green and selling volume in red. So to see buying vs selling you will need to judge how high the selling bar is compared to total volume bar.

@ecpipo Updated this same study I posted a while ago. See if it suits you.
 

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