First time posting here.
I've recently been studying the Relative Volume Standard Deviation Study for ToS for identifying supply and demand pools for support and resistance.
I've been searching for a script to plot a line on the close of the price candle where the indicator spikes above 2. If anyone could help me it would be greatly appreciated.
Here is the Td Ameritrade Script:
Thanks in advance!
Jim
I've recently been studying the Relative Volume Standard Deviation Study for ToS for identifying supply and demand pools for support and resistance.
I've been searching for a script to plot a line on the close of the price candle where the indicator spikes above 2. If anyone could help me it would be greatly appreciated.
Here is the Td Ameritrade Script:
Code:
#
# TD Ameritrade IP Company, Inc. (c) 2014-2019
#
declare lower;
declare zerobase;
input length = 60;
input numDev = 2.0;
input allowNegativeValues = no;
def rawRelVol = (volume - Average(volume, length)) / StDev(volume, length);
plot RelVol = if allowNegativeValues then rawRelVol else Max(0, rawRelVol);
plot StDevLevel = numDev;
RelVol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
RelVol.SetLineWeight(3);
RelVol.DefineColor("Above", GetColor(0));
RelVol.DefineColor("Below", GetColor(2));
RelVol.AssignValueColor(if RelVol >= numDev then RelVol.Color("Above") else RelVol.Color("Below"));
StDevLevel.SetDefaultColor(GetColor(7));
StDevLevel.SetStyle(Curve.SHORT_DASH);
Jim