Volume Bias

[Tams 20]

Volume Bias

 

 

Description:

 

This indicator prints the Volume Bias on the chart

 

Volume Bias is calculated as Up Volume divided by Total Volume.

i.e. The percentage of total volume that has an upward bias.

When there are more up volume than down volume,

the display will show a larger than 50% bias.

Otherwise the display will show a smaller than 50% bias.

 

 

The background color will turn blue if the bias is over 55%,

or red if the bias is under 45%.

Otherwise the background will display a neutral color.

 

The display is formated as follow:

UpVolume: DownVolume=UpBias%

 

You may choose to display the bias at position 1 or 2

Position 1 refers to the top of the chart, 2 is at the bottom.

 

 

 

 

 

note:

This EasyLanguage indicator was written in MultiCharts.

I have not tested it in TradeStation or other compatible programs.

Please refer to your users manual for importation instructions.

 

Translation to other platform is invited.

Volume_Bias_(MultiCharts).pla

Volume_Bias_(TS).txt

Edited August 6, 2009 by Tams

[UrmaBlume 10]

Tams,

 

Thanks for posting yet another piece of useful code.

 

We do something similar which is a simple "show me bar" in Easy Language that plots the percentage of upticks and the percentage of downticks currently inside either a time or volume bar.

 

It posts the downtick percentage at the high of the bar in red and the uptick percentage at the low in blue - easy to code and very straight forward. It will give the user an idea of how the volume/commitment bias inside the developing current bar is shaping up.

 

[Tams 20]

Great idea UB, I should give it a try.

[sdcindy 10]

I copied the text into Tradestation EL and got an error "Word Not Recognized by Easy Language", and it pointed to this word: text_setattribute

 

So I guess it needs a little tweaking still by a TS guru.

 

Thanks,

 

Cindy

[Tams 20]

I copied the text into Tradestation EL and got an error "Word Not Recognized by Easy Language", and it pointed to this word: text_setattribute

So I guess it needs a little tweaking still by a TS guru.

Thanks,

Cindy

 

 

You can delete the lines with the keyword text_setattribute.

 

 

TradeStation has less text manipulation ability than MultiCharts.

The 2 lines of code are to make the text bold and with border.

[Tams 20]

looks like TradeStation cannot do background color either. :-(

 

Here's an updated generic EasyLanguage version.

It won't look as cool as the MultiCharts version, but at least it shows the numbers.

 

Please give it a try and see if it works.

 

 

.

Volume_Bias_(TS)a.txt

Edited August 6, 2009 by Tams

[sw9 10]

Tams,

 

The update above verified ok but no numbers on the chart. Played with the settings and imputs, still nothing. Any ideas?

 

Thanks, Steve

[Tams 20]

Tams,

 

The update above verified ok but no numbers on the chart. Played with the settings and imputs, still nothing. Any ideas?

 

Thanks, Steve

 

 

 

what program/version you are using?

 

what is the chart's resolution?

 

what is the symbol?

 

what data provider?

[sw9 10]

what program/version you are using?

 

What is the chart's resolution?

 

What is the symbol?

 

What data provider?

 

 

 

ts 8.5

 

1680x1050

 

@nq.d

 

ts

[Tams 20]

ts 8.5

 

1680x1050

 

@nq.d

 

ts

 

 

chart resolution, not screen resolution.

 

 

eg. 5 min, or 2401 cvb, etc.,

[Tams 20]

would a TS user please post a chart?

[sw9 10]

chart resolution, not screen resolution.

 

 

eg. 5 min, or 2401 cvb, etc.,

 

 

 

5 min

 

1st time posting a chart, really have to make it small.

volbias.bmp

Edited August 24, 2009 by sw9

[Tams 20]

5 min

 

I tried to post a chart but the file size was to big.

 

 

save the chart as jpg, png, or gif.

 

or use your windows paint program to resize the picture.

[sw9 10]

Ok, heres the jpg version

[Tams 20]

this is how mine looks like at position 2.

 

see circle and arrow

 

 

[sw9 10]

Tams,

 

The update above verified ok but no numbers on the chart. Played with the settings and imputs, still nothing. Any ideas?

 

Thanks, Steve

 

 

 

Has anybody with TS got this indicator to work?

[Tams 20]

Has anybody with TS got this indicator to work?

 

 

Have you tried another background color?

 

 

.

[JDS 10]

I also could not get this to plot in TS 8.6. I used the code from post; 08-06-2009, 12:24 AM and it is verified. I tried in real time -- various timeframes, symbols, backgrounds, resolutions, and bar spacing. Any other ideas? Thanks for your help!!!

[Tams 20]

.

An Open Letter To B Denis:

 

It is ok to use my indicators. They are for everybody.

It is ok to copy and paste them in your website.

The license is public use, there are no obligations attached.

 

BUT it is not cool to remove my credit and claim it is yours.

 

Your behavior illustrates your attitude,

Your attitude illustrates how you conduct your business.

 

Have a nice day.

TAMS

.

Edited December 29, 2009 by Tams

[cooper59 10]

UrmaBlume,

If you have a chance or the time could you possibly post an ELD with your intra bar, volume percentage counter. I think it's a great tool for those who are working on and learning to read price action. Thank you (and Tams) for your work.

[hunter1 10]

Has anyone gotten this indicator to work in TS?

[UrmaBlume 10]

To the right of the last bar on this chart from this morning you will see three numbers.

 

The bar is an 8,000 contract bar of ES. The middle number says that the bar is 16% complete and the red number says that so far the volume in the bar is 35.7% selling and the blue says that so far the volume in the bar is 64.3% buying.

 

The bottom chart shows net trade for the session (it zeros itself at the beginning and the end of the day session so you can see separate nets for both day and nite session) in this case the market had just sold off from a positive 8k to a negative 2k.

 

[Tams 20]

this is my latest experiment,

it is a graphical representation of the volume bias...

 

[aaa 10]

Tams & UmaBlume

 

You surf on the same wave !

 

This is a very smart view of what is behind the volume transaction

[UrmaBlume 10]

Tams & UmaBlume

 

You surf on the same wave !

 

This is a very smart view of what is behind the volume transaction

 

Thanks for the kind words.

 

Nice dog, here is a shot of mine.