Tick Buy and Sell Volume Indicator for ThinkorSwim

[BenTen]

The follow 2 indicators are best used in situations where one would want to know if the majority of trading is machine-driven or not.

TicksPerVolume: Shows volume divided by ticks or in other words the volume traded divided by the number of trades. Higher means larger lots being traded and lower bar means smaller lots.

TicksBuyTicksSell: Shows the number of trades on the buy side plus the number of trades on the sell side divided by the number of trades.

thinkScript Code

declare lower;
declare zerobase;

def TradeCount = tick_count;
def MoneyCount = volume;

plot avgTradeCount = ((MoneyCount[1] + MoneyCount) / 2) / ((TradeCount + TradeCount[1]) / 2);

AvgTradeCount.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
AvgTradeCount.AssignValueColor(if TradeCount >= AvgTradeCount then Color.UPTICK else Color.DOWNTICK);

thinkScript Code

declare lower;
declare zerobase;
#plot

plot TradeCount = (((tick_count(priceType = PriceType.BID)) + (tick_count(priceType = PriceType.ASK))) / 2) / tick_count();

Credit:

• RyanHendricks

 

[SolidChiken]

Hi @BenTen... Thank you so much for this TicksBuyTicksSell indicator. I love it. Made some adjustment on my end to differentiate the counting of BID and ASK. Gotta use in conjuntion with volume indicator as large block of order supersede the counts.

Here's the code:

declare lower;

declare zerobase;

def TradeCountASK = tick_count(priceType = PriceType.ASK);

def TradeCountBID = tick_count(priceType = PriceType.BID);

plot TCA = TradeCountASK;

TCA.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

TCA.SetDefaultColor(Color.RED);

TCA.HideBubble();

TCA.SetLineWeight(4);

plot TCB = TradeCountBID;

TCB.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

TCB.SetDefaultColor(Color.WHITE);

TCB.HideBubble();

TCB.SetLineWeight(4);

 

[skynetgen]

Its a great find guys! I played a bit and made diff histogram. it is quite interesting. I dont yet have the signal for it, but from first glance its shows some interesting divergence from price action

declare lower;
declare zerobase;
declare hide_on_daily;

input avglen=13;
def TradeCountASK = tick_count(priceType = PriceType.ASK);
def TradeCountBID = tick_count(priceType = PriceType.BID);

#at the ask is bullish
plot TCA = TradeCountASK;
#TCA.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
TCA.SetDefaultColor(Color.dark_green);
TCA.HideBubble();
#TCA.SetLineWeight(2);

#at the bid is bearish
plot TCB = -TradeCountBID;
#TCB.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
TCB.SetDefaultColor(Color.red);
TCB.HideBubble();
#TCB.SetLineWeight(2);

plot diff=TradeCountASK-TradeCountBID;
diff.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
diff.assignValueColor(if diff>0 then color.green else color.red);
plot avg=expaverage(diff,avglen);
avg.setdefaultColor(color.plum);

#plot totaldiff=Sum(diff,50);

 

[SolidChiken]

Cool... Thank you @skynetgen. Gotta check it out when I'm home later

 

[skybillion]

Hi @BenTen... Thank you so much for this TicksBuyTicksSell indicator. I love it. Made some adjustment on my end to differentiate the counting of BID and ASK. Gotta use in conjuntion with volume indicator as large block of order supersede the counts.

Here's the code:

declare lower;

declare zerobase;

def TradeCountASK = tick_count(priceType = PriceType.ASK);

def TradeCountBID = tick_count(priceType = PriceType.BID);

plot TCA = TradeCountASK;

TCA.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

TCA.SetDefaultColor(Color.RED);

TCA.HideBubble();

TCA.SetLineWeight(4);

plot TCB = TradeCountBID;

TCB.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

TCB.SetDefaultColor(Color.WHITE);

TCB.HideBubble();

TCB.SetLineWeight(4);

Hi,
Sorry about the ignorant question, but I tried your code in think or swim and I am getting a n/a instead of 1,1. Can you help me clarify this? Thank you for your help on this

 

[BenTen]

@skybillion What do you mean by that? Can you post a screenshot?

 

[skybillion]

@skybillion What do you mean by that? Can you post a screenshot?

Ben, thank you for your reply. do you see how its displaying N/A?

 

[horserider]

Simple difference bid - ask as skynetgen did but not compressed.

declare lower;
def TradeCountASK = tick_count(priceType = PriceType.ASK);

def TradeCountBID = tick_count(priceType = PriceType.BID);
def diff = TradeCountASK - TradeCountBID;
plot Dab = diff;
Dab.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
plot zl = 0 ;

Dab.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Dab.SetLineWeight(3);
Dab.DefineColor("Positive and Up", Color.GREEN);
Dab.DefineColor("Positive and Down", Color.DARK_GREEN);
Dab.DefineColor("Negative and Down", Color.RED);
Dab.DefineColor("Negative and Up", Color.DARK_RED);
Dab.AssignValueColor(if Dab >= 0 then if Dab > Dab[1] then Dab.color("Positive and Up") else Dab.color("Positive and Down") else if Dab < Dab[1] then Dab.color("Negative and Down") else Dab.color("Negative and Up"));

 

[mudcat]

Hi @BenTen . The name of the first indicator is TicsPerVolume but the formula is volume/ticks which would make it VolumePerTics. Shouldn't the name be changed?......Thanks for all your posts and codes. I am not new to TOS but definetely a newbie with thinkscript.

 

[we29125]

Can the above indicators be used on individual stocks ? Like Tesla, Amazon...etc.
@BenTen @skynetgen @horserider @skybillion @mudcat

 

[Lancier]

@we29125 yes

 

[Lancier]

Can someone enlighten me on the difference between tick_count() and tick_count(priceType = priceType.MARK)? I thought they would be the same but differ at times. Thanks in advance for any replies!

declare lower;
plot TradeCount = tick_count;
plot zero = 0;
plot TradeCount_Mark = tick_count(priceType = "MARK");
TradeCount.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);

 

[3AMBH]

This tread went quiet. Is anyone using this indicator with success? If you are, which code are you using?

Thanks in advance.

 

[Necr0sis]

Pardon my ignorance @BenTen How is the second script (TicksBuyTicksSell) different from another linear volume graph like OBV?

 

[BenTen]

@Necr0sis I'm not too familiar with this script either

 

[we29125]

The above are great for viewing but not for trading inputs. Dont waste too much time.

 

[ApeX Predator]

Following. Want to see what I can do to integrate with a piece of code I have.

 

[TheGrimmReaper]

@skynetgen This is great, thank you!

 

[TheGrimmReaper]

Click on this link...this is NOT yet implemented, but it looks like they are working on what will be HUGE improvements on trades and volume on the bid and ask...
https://tlc.thinkorswim.com/center/howToTos/thinkManual/Bookmap/Heatmap/Volume-bars

 

[huab]

What is the difference between volume and tick_count functions?