View Total Volume, Bull Volume, and/or Bear Volume. View Volume Effectiveness to reveal how Volume has effected the price. View the Moving Average of any of the above metrics, selecting one or more types of moving averages(SMA, EMA, RMA, SWMA, VWMA, WMA, or ALMA). Create nearly infinite crossovers by activating the Secondary Moving Average and choosing a longer or shorter Length. Use the highlighter to quickly filter out noise and focus the events you're searching for, by choosing one or more highlight-scenarios from the Highlighting Menu. Use the Average Amplifier to fine tune your Highlighting results.
Use as an ordinary Volume Indicator
Show the Bullish volume within Total Volume
Show the Bearish volume within Total Volume
Show the Bullish and Bearish volume simultaneously within Total Volume
Create crossovers like this one, Bullish Volume Average with Bearish Volume Average
Show the gas mileage of volume, the Volume Effectiveness
Create crossovers like this, Volume Effectiveness 14 with Volume Effectiveness 60
Use Amplifiers to show things that are usually out of scale with one another, like Volume Effectiveness with Volume
Use the Highlighter to show anything, like here, when Bearish Volume was above average AND Volume Effectiveness was under average
From left to right, the Indicator Values are as follows: 1) Total True Volume (red, green, or gray when viewed alongside Bulls/Bears) 2) Volume Winner - Bulls v/s Bears (red or green) 3) Volume Loser - Bulls v/s Bears (red or green) 4) Volume Effectiveness (blue) 5) Design Spacer - Ignore This (green) 6) Design Spacer - Ignore This (red) 7) Total True Volume Primary Moving Average (dark gray) 8) Total True Volume Secondary Moving Average (dark gray) 9) Inferred Bullish Volume Primary Moving Average (dark green) 10) Inferred Bullish Volume Secondary Moving Average (dark green) 11) Inferred Bearish Volume Primary Moving Average (dark red) 12) Inferred Bearish Volume Secondary Moving Average (dark red) 13) Volume Effectiveness Primary Moving Average (blue) 14) Volume Effectiveness Secondary Moving Average (blue)
Click the sprocket and you'll find the following settings (which are explained below):
Total True Volume - This is your everyday, ordinary volume indicator, a total sum of the volume from each candle.
Inferred Bullish Volume - This subtracts Bearish Volume out of the Total True Volume. But without the bull-volume data from the exchange, we can only forensically infer the bullish volume by evaluating OHLC data to guess what ratio of upward v/s downward movement happened within the candle.
Inferred Bearish Volume - This subtracts Bullish Volume out of the Total True Volume. But without the bear-volume data from the exchange, we can only forensically infer the bearish volume by evaluating OHLC data to guess what ratio of downward v/s upward movement happened within the candle.
Volume Effectiveness - This shows how much price movement occurred for each unit of Volume, by dividing the Price Change of each candle by the Total True Volume of each candle. If this volume were gas-mileage, then Volume would be the gas and Price would be the mileage.
• Inferred Effectiveness - Rather than using the Price Change divided by the Total True Volume, this method of determining Volume Effectiveness uses the Total Price-Mileage divided by the Total True Volume. The Total Price-Mileage is determined by figuring the high minus low, the wick times two, and the tail times two, and ad
เอกสารเผยแพร่
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Fixed a bug where the Background Highlighter only worked while other Highlighting modes were simultaneously enabled. Now the Background Highlighter works independently, as it was intended.
1) How did you calculated the Bull and bear volume ?
2) Total Volume = Bull Volume + Bear Volume, right ? In this equation we only have total volume for any bar in tradingview
If I use net volume formula its like that
net volume = Bull - Bear
but in tradingview built-in indicator its
net volume = sign(change(close))*volume
These two are not equal. Would be great if you can help to tell how can be separate bull and bear volume in each bar?
Many thanks in advance
jdhadwin
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SETTINGS DESCRIPTIONS:
Total True Volume - This is your everyday, ordinary volume indicator, a total sum of the volume from each candle.
Inferred Bullish Volume - This subtracts Bearish Volume out of the Total True Volume. But without the bull-volume data from the exchange, we can only forensically infer the bullish volume by evaluating OHLC data to guess what ratio of upward v/s downward movement happened within the candle.
Inferred Bearish Volume - This subtracts Bullish Volume out of the Total True Volume. But without the bear-volume data from the exchange, we can only forensically infer the bearish volume by evaluating OHLC data to guess what ratio of downward v/s upward movement happened within the candle.
Volume Effectiveness - This shows how much price movement occurred for each unit of Volume, by dividing the Price Change of each candle by the Total True Volume of each candle. If this volume were gas-mileage, then Volume would be the gas and Price would be the mileage.
• Inferred Effectiveness - Rather than using the Price Change divided by the Total True Volume, this method of determining Volume Effectiveness uses the Total Price-Mileage divided by the Total True Volume. The Total Price-Mileage is determined by figuring the high minus low, the wick times two, and the tail times two, and adding these three together.
Total True Volume MA - Uses the Moving Average Settings (below) to generate a moving average (MA) of the Total True Volume (above). When SMA is selected in the Moving Average Selector (below), with a Primary MA Length of twenty, this is your everyday, ordinary volume moving average.
• Inferred Bullish Volume MA - Uses the Moving Average Settings and Selector to generate a MA of the Inferred Bullish Volume (above).
• Inferred Bearish Volume MA - Uses the Moving Average Settings and Selector to generate a MA of the Inferred Bearish Volume (above).
• Volume Effectiveness MA - Uses the Moving Average Settings and Selector to generate a MA of the Volume Effectiveness (above).
zschonn
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Great job mate. One thing I've notice that total true volume all the way across coming up in only gray color. I believe it should be turn red or green so user can have idea if Total Volume is negative or positive or bull or bearish
TintinTrading
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Hey buddy! Very nice indicator! Is it possible to add a setting to have volume color (green/red) based on previous close not on days close. Tradingview has it in general setting for the price bars.
EquityCraze
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Great indicator to understand the price action in Volume and changes perspective. A small request as a user, could you plot the indicator in volume format? indicator(title='Vol+', overlay=false, format=format.volume)
Cheers!
SirElmo_
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@jdhadwin I absolutely love this study! Well done!
I have one issue with it as it breaks one of my other key indicators that colors candle sticks based on other values. Even when I turn off the candle stick options on your study, it won't let the other one run. Is there a way to correct this? Your source code is locked so I cant // out those lines of code. I would very much appreciate your help! Thanks for the amazing work regardless!
nizar9599
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hi,
Love your indi. Can you change the unit to k or M to simplify the volume?
Thanks
dreambt
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It's so cool! Can you public it?
vwgm
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How would I display the total cumulative volume for the day on a minute chart.
Thanks