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Better Volume Indicator

Formula for: TradeStation

indicator

 

 

Views:  4872

Added: December 28, 2007
 
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Tags: TradeStation, indicator
 


The typical volume histogram can be improved by coloring bars based on 5 criteria:

* High volume churn
* Low volume churn
* Climax volume
* Climax volume plus High volume churn
* Low volume

For a full description of how to use this indicator, check out the article link below.

 

 



Code:

{***** Copyright www.Emini-Watch.com All rights reserved *****}

Inputs: Color(Cyan), LowColor(Yellow), ClimaxColor(Red), ChurnColor(Green),
ClimaxChurnColor(Magenta), LowChurnColor(White), AvgColor(Red);
Variables: BarColor(Cyan);

BarColor = Color;

Value1 = V;
Value2 = V*Range;
If Range <> 0 then Value3 = V/Range;
Value4 = Average(Value1,100);

If Value1 = Lowest(Value1,20) then BarColor = LowColor;
If Value2 = Highest(Value2,20) then BarColor = ClimaxColor;
If Value3 = Highest(Value3,20) then BarColor = ChurnColor;
If Value2 = Highest(Value2,20) and Value3 = Highest(Value3,20) then BarColor = ClimaxChurnColor;
If Value3 = Lowest(Value3,20) then BarColor = LowChurnColor;

Plot1(Value1,"Volume",BarColor);
Plot2(Value4,"Avg",AvgColor);


{******************************* Change Log: *******************************}
{23 November 2007 - Added LowChurn colored volume bars }

 





Code to difficult? Find somebody to help you with coding here.

 


Source: www.Emini-Watch.com

 

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