Simple Volume Color Bar For ThinkOrSwim

[drasp]

Simple Volume Color Bar

declare weak_volume_dependency;
input maLengthOne = 14;
input maTypeOne = AverageType.SIMPLE;
plot data = volume;
plot maOne = MovingAverage(maTypeOne, data, maLengthOne);
data.AssignValueColor(if data > maOne then Color.yellow else
if close > open then Color.UPTICK else
if close < open then Color.DOWNTICK else Color.CURRENT);
data.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

http://tos.mx/TBAmPob

This is a simple volume indicator that colors the volume bar if it closes above the moving average. It does nothing to the actual candlestick.

I'm sure if somebody was clever enough they could paint the candlebars as well with each volume burst, too much info for me.

 

[Ronin13]

@drasp , you may want to check this out:

https://usethinkscript.com/threads/better-volume-indicator-for-thinkorswim.108/

i used it to pretty good effect in my trading

 

[drasp]

@drasp , you may want to check this out:

https://usethinkscript.com/threads/better-volume-indicator-for-thinkorswim.108/

i used it to pretty good effect in my trading

Oh yea thats a nice one too. It even interprets the thing I look out for. I might try it. Thanks!

 

[Ronin13]

Oh yea thats a nice one too. It even interprets the thing I look out for. I might try it. Thanks!

also, it is a 'current' indicator of the volume metric, and therefore very effective for day trading

good luck with it