Volume Pressure in a whole new light for ThinkOrSwim

[daveS53]

Thank you for getting back with me. I'm new to this. If I'm using a wrong version, what version do you recommend? If you have something better, that would be great, if you are willing to post it.

 

[dap711]

Thank you for getting back with me. I'm new to this. If I'm using a wrong version, what version do you recommend? If you have something better, that would be great, if you are willing to post it.

Use the code from this post. Here
Read how to use it. Here

I use this indicator to trade stocks in the NASDAQ and I mostly trade QQQ.

 

[Tillearn]

@dap711 Thanks for this, I"ll start testing this more. I had a very marginal hope, that maybe we could use this on SPX charts, since that Volume can't be used on indexes directly. Since this aggregates based on SPY, QQQ, was hoping it'd be different. But it doesn't work unfortunately. Have you found any other way for getting sorta volume on SPX?

 

[dap711]

@dap711 Thanks for this, I"ll start testing this more. I had a very marginal hope, that maybe we could use this on SPX charts, since that Volume can't be used on indexes directly. Since this aggregates based on SPY, QQQ, was hoping it'd be different. But it doesn't work unfortunately. Have you found any other way for getting sorta volume on SPX?

I've got you covered .. This was posted a month ago, right here in this thread! Click here

 

[George54Will]

I've got you covered .. This was posted a month ago, right here in this thread! Click here

I like your buy/sell vol. pressure indicator very much as a lower study and am wondering if there a way to have it not paint the upper price bars in any way. I tried turning off this feature in the settings but then the price bars become grayed out. Thanks much for all your effort.

 

[dap711]

I like your buy/sell vol. pressure indicator very much as a lower study and am wondering if there a way to have it not paint the upper price bars in any way. I tried turning off this feature in the settings but then the price bars become grayed out. Thanks much for all your effort.

Yup ..

Find this code:

AssignPriceColor(
    if PaintBars and !IsNaN(Dot_Cyan) then Color.CYAN
    else if PaintBars and !IsNaN(Dot_Red) then Color.RED
    else Color.GRAY
);

And replace it with this code:

AssignPriceColor(
    if PaintBars and !IsNaN(Dot_Cyan) then Color.CYAN
    else if PaintBars and !IsNaN(Dot_Red) then Color.RED
    else Color.CURRENT
);

Cheers!
Dwain

 

[onemantrading]

Thank you for building this. It is very useful!

Question on how it computes... I noticed when I have a chart of QQQ up, the numbers are different than the built in QQQ... why is that?

 

[dap711]

Thank you for building this. It is very useful!

Question on how it computes... I noticed when I have a chart of QQQ up, the numbers are different than the built in QQQ... why is that?

View attachment 27120

Because they are calculated differently.

There are several ways to calculate volume pressure. The chart uses the most common way and the others use my way. Neither are the "correct" way and it gives me a way to compare if looking at QQQ or SPY.

 

[onemantrading]

Ok so two differing code. Thanks for the heads up!