Time Segmented Volume for ThinkorSwim

[SolidChiken]

After read the following article, I'm intrigued by the indicator called TSV. It was designed by Don Worden. An indicator that could reveal and disseminate large-lot vs. small-lot activity. The writer gave a very good explanation about the usage. Anyone here can help where to find TSV code? I've been searching for it a few days.

Here's the page: https://www.traderplanet.com/time-segmented-volume-the-ideal-oscillator-for-automated-markets/

 

[twall]

Seems that way to me, I coded it as is, I can modify. I noticed that went porting it. The reference site is also the same. If someone finds the correction please let me know.

IDK if @BenTen or @horserider have the time to take a look

 

[cos251]

IDK if @BenTen or @horserider have the time to take a look

After watching it for a few days I think it is correct. I tried changing it to (-1) but that just plotted everything above 0.

 

[squatsandstonks]

After watching it for a few days I think it is correct. I tried changing it to (-1) but that just plotted everything above 0.

Yeah I think so too.... It's just slightly different from on balance volume I guess. I played with it that way a well... When you think about it, it doesn't make sense to make volume have a negative multiplier when close - close[1] would already be negative if close < close[1]. I guess it just wasn't well thought through despite receiving some kind of award for this proprietary indicator

 

[TradeUp]

Try this.

## Time_Segmented_Volume
##
##
## CREDITS
## Requested by @squatsandstonks from orignal source https://www.tradingview.com/chart/BTCUSD/TG3DTxTR-INDICATOR-TIME-SEGMENTED-VOLUME/
##
##
## Removing the header Credit credits and description is not permitted, any modification needs to be shared.
##
##
## V 1.0 :    @cos251 - Initial release per request from usethinkscript forum.  All logic has not been ported, only base idea
##       :  

declare lower;

input tsvLength = 13;
input maLength = 7;

def t = Sum(if close > close[1] then (volume * (close-close[1])) else if close < close[1] then (volume *(close-close[1])) else 0,tsvLength);
def m = MovingAverage(AverageType.SIMPLE,t,maLength);

def PAL = (t > m) and (t > 0);
def PAL_Fail = (t < m) and (t > 0);
def PAS = (t <m) and (t < 0);
def PAS_Fail = (t > m) and (t < 0);

plot TSV = t;
TSV.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
TSV.AssignValueColor(if TSV > 0 then Color.MAGENTA else Color.CYAN);
TSV.SetLineWeight(4);
plot TSV_MA = m;
TSV_MA.SetDefaultColor(Color.GREEN);
plot zero = 0;


plot square = 0;
square.SetPaintingStrategy(PaintingStrategy.SQUARES);
square.SetDefaultColor(Color.DARK_GRAY);
square.AssignValueColor(if PAL then Color.GREEN else if PAL_Fail then Color.RED else if PAS then Color.YELLOW else if PAS_Fail then Color.YELLOW else Color.Current);
square.SetLineWeight(1);

@cos251 Thank you for this indicator.

 

[Slippage]

It depends on the timeframe of your single candle. If it matches one of the timeframes supported by the volume profile study, then yes. Look in the time per profile setting of the VolumeProfile study.

 

[tradermack]

Try this.

@cos251 wanted to know if you draw the zones or are they an indicator. Same question for the clouds your chart looks clean.

 

[cos251]

@cos251 wanted to know if you draw the zones or are they an indicator. Same question for the clouds your chart looks clean.

Hi @tradermack - There 2 version of the indicator you are asking about. I normally have the version in post #1 loaded and use the version in post #2 for higher time frames or to identify historical support and resistance zones. Link to article below.

https://usethinkscript.com/threads/vzone-volumes-based-support-resistance.7169/

 

[Splinter]

I'm finding this indicator interesting. I was hoping I could find out what each color of the squares represents. Thanks!

 

[cos251]

I'm finding this indicator interesting. I was hoping I could find out what each color of the squares represents. Thanks!

It is the sum being calculated, whether it is greater/less than 0 and greater/less than moving average of the sum.

def PAL = (t > m) and (t > 0);
def PAL_Fail = (t < m) and (t > 0);
def PAS = (t <m) and (t < 0);
def PAS_Fail = (t > m) and (t < 0);

 

[MoreFunn]

Looking to turn this into a scan.
Has anyone tried to make a TSV scan?
Assuming i want to see when the tsv goes >0
Would i use this in the custom scan code
plot TSV = t;
t[-1],0 and t>0
Thoughts?
Has anyone built anything to share.
TIA

 

[cos251]

Looking to turn this into a scan.
Has anyone tried to make a TSV scan?
Assuming i want to see when the tsv goes >0
Would i use this in the custom scan code
plot TSV = t;
t[-1],0 and t>0
Thoughts?
Has anyone built anything to share.
TIA

Here you go. Give it a shot!

Included plots:

1. TSV_Bull
   1. t > 0 and t[1] < 0 and PAL (bullish MA momentum)
2. TSV_Weak_Bull
   1. t > 0 and t[1] < 0 and PAL_Fail (no bullish MA momentum)
3. TSV_Bear
   1. t < 0 and t[1] > 0 and PAS (bearish MA momentum)
4. TSV_Weak_Bear
   1. t < 0 and t[1] > 0 and PAS_Fail (no bearish MA momentum)

## Time_Segmented_Volume_SCAN
##
##
## CREDITS
## Requested by @squatsandstonks from orignal source
## https://www.tradingview.com/chart/BTCUSD/TG3DTxTR-INDICATOR-TIME-SEGMENTED-VOLUME/
##
##
## Removing the header Credit credits and description is not permitted, any modification needs to be shared.
##
##
## V 1.0 :    @cos251 - Initial release of SCAN for for Time Segmented Volume
##       : 
# --- Inputs
input tsvLength = 13;
input maLength = 7;
# --- End Inputs

# --- Data
def t = Sum(if close > close[1] then (volume * (close-close[1])) else if close < close[1] then (volume *(close-close[1])) else 0,tsvLength);
def m = MovingAverage(AverageType.SIMPLE,t,maLength);

def PAL = (t > m) and (t > 0);
def PAL_Fail = (t < m) and (t > 0);
def PAS = (t <m) and (t < 0);
def PAS_Fail = (t > m) and (t < 0);
# --- End Data

# --- Plots
plot TSV_Bull = if (t > 0 and t[1] < 0) and PAL then 1 else Double.NaN;
plot TSV_Weak_Bull = if (t > 0 and t[1] < 0) and PAL_Fail then 1 else Double.NaN;
plot TSV_Bear = if (t < 0 and t[1] > 0) and PAS then 1 else Double.NaN;
plot TSV_Weak_Bear = if (t < 0 and t[1] > 0) and PAS_Fail then 1 else Double.NaN;
# --- End Plots

 

[Task]

Try this.

## Time_Segmented_Volume
##
##
## CREDITS
## Requested by @squatsandstonks from orignal source https://www.tradingview.com/chart/BTCUSD/TG3DTxTR-INDICATOR-TIME-SEGMENTED-VOLUME/
##
##
## Removing the header Credit credits and description is not permitted, any modification needs to be shared.
##
##
## V 1.0 :    @cos251 - Initial release per request from usethinkscript forum.  All logic has not been ported, only base idea
##       : 

declare lower;

input tsvLength = 13;
input maLength = 7;

def t = Sum(if close > close[1] then (volume * (close-close[1])) else if close < close[1] then (volume *(close-close[1])) else 0,tsvLength);
def m = MovingAverage(AverageType.SIMPLE,t,maLength);

def PAL = (t > m) and (t > 0);
def PAL_Fail = (t < m) and (t > 0);
def PAS = (t <m) and (t < 0);
def PAS_Fail = (t > m) and (t < 0);

plot TSV = t;
TSV.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
TSV.AssignValueColor(if TSV > 0 then Color.MAGENTA else Color.CYAN);
TSV.SetLineWeight(4);
plot TSV_MA = m;
TSV_MA.SetDefaultColor(Color.GREEN);
plot zero = 0;


plot square = 0;
square.SetPaintingStrategy(PaintingStrategy.SQUARES);
square.SetDefaultColor(Color.DARK_GRAY);
square.AssignValueColor(if PAL then Color.GREEN else if PAL_Fail then Color.RED else if PAS then Color.YELLOW else if PAS_Fail then Color.YELLOW else Color.Current);
square.SetLineWeight(1);

Hi and thank you for sharing this. I was wondering if there is anyway for me to change the colors of the histogram. As I mainly use the blue color on my charts for up ticks and I use the Pink color to replace the red bars for down ticks.

 

[cos251]

Hi and thank you for sharing this. I was wondering if there is anyway for me to change the colors of the histogram. As I mainly use the blue color on my charts for up ticks and I use the Pink color to replace the red bars for down ticks.

Change this line:

TSV.AssignValueColor(if TSV > 0 then Color.MAGENTA else Color.CYAN);

To this:

TSV.AssignValueColor(if TSV > 0 then Color.BLUE else Color.PINK);

 

[Zlotko]

Do you have The Time Segmented Volume indicator for TOS? and Time per Profile?
Would love to get it!

 

[MerryDay]

@Zlotko if the script here: https://usethinkscript.com/threads/time-segmented-volume-for-thinkorswim.519/#post-70914
doesn't float your boat, there are other flavors in this thread and you can check out: https://usethinkscript.com/threads/time-based-volume-indicator-for-thinkorswim.124/ also

 

[Zlotko]

I found this;

https://futures.io/thinkorswim/10957-time-segmented-volume-worden-telecharts.html


# Time Segmented Value (TSV)

input length = 18;
input avgLength = 10;

# TSV=(Sum( IIf( C > Ref(C,-1), V * ( C-Ref(C,-1) ),
# IIf( C < Ref(C,-1),-V * ( C-Ref(C,-1) ), 0 ) ) ,18));

plot TSV = sum( if close > close[1] then volume * (close - close[1]) else if close < close[1] then -1* volume *(close - close[1]) else 0, length);

Plot TSVAvg = Average(TSV, avglength);

 

[GAA]

Here it is with Red upper and Green lower for potential buy sell and buy setups. I have it set at 14. Back test w diff numbers. Let me know if there is something missing.

https://tos.mx/PoV4RcZ

# Volume_TSV

declare lower;

input length = 14;

def VP = ExpAverage(Sign(close - close[1]) * volume, length);
def TV = ExpAverage(volume, length);

plot VZO = 100 * VP / TV;
plot "+60" = 60;
plot "+40" = 40;
plot "-40" = -40;
plot "-60" = -60;
plot ZeroLine = 0;

VZO.SetDefaultColor(GetColor(1));
"+60".SetDefaultColor(GetColor(5));
"+40".SetDefaultColor(GetColor(5));
"-40".SetDefaultColor(GetColor(6));
"-60".SetDefaultColor(GetColor(6));
ZeroLine.SetDefaultColor(GetColor(4));

 

[twall]

Here it is with Red upper and Green lower for potential buy sell and buy setups. I have it set at 14. Back test w diff numbers. Let me know if there is something missing.

https://tos.mx/PoV4RcZ

# Volume_TSV

declare lower;

input length = 14;

def VP = ExpAverage(Sign(close - close[1]) * volume, length);
def TV = ExpAverage(volume, length);

plot VZO = 100 * VP / TV;
plot "+60" = 60;
plot "+40" = 40;
plot "-40" = -40;
plot "-60" = -60;
plot ZeroLine = 0;

VZO.SetDefaultColor(GetColor(1));
"+60".SetDefaultColor(GetColor(5));
"+40".SetDefaultColor(GetColor(5));
"-40".SetDefaultColor(GetColor(6));
"-60".SetDefaultColor(GetColor(6));
ZeroLine.SetDefaultColor(GetColor(4));

zero I'm assuming is the consolidation area. What are the buy/sell zones on the indicator?

 

[XCROSSX]

I am liking this indicator. Thank you for creating. Gives a nice edge when trying to figure out if consolidation is accumulation vs distribution. And does show nice divergences.

 

[bullishbear420]

Hey, I really appreciate you doing this, this is a lot closer than I got. I'm going to investigate further. I wonder if there are data anomalies between tradingview and TOS

Hi dumb question about the dots - is green just bullish, yellow = choppy market, red = bearish or what? lol