Volume Profile minus negative volume = Bagholder Indicator
- Thread starter evanevans
- Start date
Welkin
Active member
I played around with this concept a while back and found that I was only able to control the conditions for the start of a new volume profile. I wasn't able to control how the volume at different price levels is tallied based on bullish/bearish candles/OBV/candle buy sell strength/etc.. This is just a limitation in the tool given by ToS. When they finally release BookMap on ToS for observing order flow, I hope that will also provide us with some more toys to play around with script-wise.Is it possible to do a volume profile for a chart which shows the volume as positive volume minus negative volume? I believe this might end up showing "bagholder" support/resistance zones.
@Welkin ?
Welkin
Active member
Supposedly it is being tested, though it has been a while now since the news was dropped. Check out this thread: https://usethinkscript.com/threads/bookmap-orderflow-coming-to-tos.2406/
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