# Volume/Trend Labels alternative to Trend Exhaustion For ThinkOrSwim

#### horserider

##### Well-known member
VIP
Alternative to Trend Exhaustion which show Volume strength, Price Strength and EMA 9/21 position. Also plots 9/21 EMAs and cloud on he chart.

Remember to set time frame to chart time. Can easily be changed to show labels only.
https://tos.mx/mfbFUp

### thinkScript Code

Code:
``````#MUST ADJUST TIME FRAME OF THIS FORMULA TO MATCH CHART;

def agg = getAggregationPeriod();
input vPeriod = AggregationPeriod.HOUR;

def O = open(period = vPeriod);
def H = high(period = vPeriod);
def C = close(period = vPeriod);
def L = low(period = vPeriod);
def V = volume(period = vPeriod);

def SV = V * (H - C) / (H - L);
def BV = V * (C - L) / (H - L);

AddLabel(yes, "Buyer Vol Strong ", if high > high[1] and low > low[1] and BV*1.05 > SV then Color.GREEN else color.GRAY);

AddLabel(yes, "Seller Vol Strong", if high < high[1] and low < low[1] and SV*1.05 > BV then Color.MAGENTA else color.GRAY);

AddLabel(yes, "Price Strong ", if high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2] then Color.GREEN else color.GRAY);

AddLabel(yes, "Price Weak", if high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2] then Color.MAGENTA else color.GRAY);

declare upper;
input price = close;
input displace = 0;

input EMALength1 = 9;
input EMALength2 = 21;``````

#### Attachments

• 9kNlcHh.png
125.1 KB · Views: 154
Last edited by a moderator:
This one looks interesting. But what is the "price weak/strong" based on? What does it compare to for giving strong or weak indication?

Look at the code. Based on highs and lows. Works for the period you set in the time aggregation.

@horserider hey is there any way to have the labels change with the chart time frame instead of fixed like frame

@yman Did not test if this works, make sure you check it yourself.

Code:
``````def O = open;
def H = high;
def C = close;
def L = low;
def V = volume;

def SV = V * (H - C) / (H - L);
def BV = V * (C - L) / (H - L);

AddLabel(yes, "Buyer Vol Strong ", if high > high[1] and low > low[1] and BV*1.05 > SV then Color.GREEN else color.GRAY);

AddLabel(yes, "Seller Vol Strong", if high < high[1] and low < low[1] and SV*1.05 > BV then Color.MAGENTA else color.GRAY);

AddLabel(yes, "Price Strong ", if high > high[1] and high [1] > high[2] and low > low[1] and low[1] > low[2] then Color.GREEN else color.GRAY);

AddLabel(yes, "Price Weak", if high < high[1] and high[1] < high[2] and low < low[1] and low[1] < low[2] then Color.MAGENTA else color.GRAY);

declare upper;``````

Last edited by a moderator:

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