Net Dollar Volume

[James2020]

Hi, I'm trying to track the net dollar volume of the previous 10 mins. The issue I'm running into is how to code it properly in ThinkScript. Does anyone know where I can find a code for this or how write the proper one?

 

[Pensar]

@James2020 - https://usethinkscript.com/threads/dollar-volume-indicator-for-thinkorswim.1253/post-36988 - Do you mean something like this?

 

[James2020]

@James2020 - https://usethinkscript.com/threads/dollar-volume-indicator-for-thinkorswim.1253/post-36988 - Do you mean something like this?

Thats the formula for Dollar Volume which is part of it but I'm confused how the code needs to be tweaked to represent the "Net" Dollar Volume over a 10 minute period

 

[Pensar]

Thats the formula for Dollar Volume which is part of it but I'm confused how the code needs to be tweaked to represent the "Net" Dollar Volume over a 10 minute period

@James2020 I'm sorry, I don't understand. What do you mean by "Net"?

 

[Pensar]

As long you don't use MTF aggregations, it will show the dollar volume traded during each individual price bar, be it the 1 min, 5 min, 10 min, 30 min, 1 hr, etc. charts.

Are you trading the 1 min chart but want to know the total dollar volume of the past 10 mins?

 

[James2020]

As long you don't use MTF aggregations, it will show the dollar volume traded during each individual price bar, be it the 1 min, 5 min, 10 min, 30 min, 1 hr, etc. charts.

Are you trading the 1 min chart but want to know the total dollar volume of the past 10 mins?

So a better way of explaining it may be like this....I would like to take a 10 min period of time and have the code add the dollar volume for the green candles, then add the dollar volume for the red candles, then subtract the red ones from the green ones for that time period. What I don't know is what ThinkScript uses for representing green and red candles in their coding.

 

[Pensar]

@James2020 Green candles can be obtained by using def green = close > open; and red candles can be found using def red = close < open;. I'll see what I can do and will get back to you on this.

 

[Pensar]

@James2020 test this and verify that the output is what you want. This is aggregation-sensitive - meaning, it uses the last "x" amount of candles based on your user input. Currently, it is set to use the last 10 bars, so to see the net dollar volume of the last 10 mins you must use a 1 minute chart. Alternatively, you could change the input to "2" and use a 5 min chart.

I didn't include candles where the open is equal to the close. If you want that added to either the buying or selling dollar volume, specify which one you want it added to. Otherwise, it ignores those candles.

input barsback = 10;
def x = isnan(close[-barsback]);
def dv = close * volume;

addlabel(1,"net dv of past " + barsback + " bars",color.gray);

def bdv = if x and close > open then bdv[1] + dv else bdv[1];
addlabel(1,"buying dv = " + bdv,color.green);

def sdv = if x and close < open then sdv[1] + dv else sdv[1];
addlabel(1,"selling dv = " + sdv,color.red);

def net = bdv - sdv;
addlabel(1,"net dv = " + net,color.cyan);