PRV -- Pro Rated Volume

For the volume hawks!

This indicator projects the volume at the end of the bar.
It calculates the PRV based on the current trade pace,
and the time remaining in the bar.

This information is useful to spot turning points
ie. whether the money is drying up... or flooding in.

This indicator is usable on minute charts only.

Instructions:
Set the volume to display as a thick histogram
and the PRV to display either as a thin histogram, or as a thick point.

[onesmith]

You're welcome. I agree it's a great indicator. Thank you Tams ....TXUK's ......and any other's involved that I've missed.

I'm curious what you changed???

Originally Posted by danhoyda »

pardon me I got it to work thanks for the help I changed something on the original code and thats why it didnt work. I changed it back and now it is.

Thanks.

Love the indicator.

[danhoyda]

that computer date time thing is what I changed it back to.

Dan


inputs:
UpCol( black ),
DnCol( Red ),
UpPRV(green),
DnPRV(Darkcyan),
delay(10);

variables:
offset(0),
color(0);

vars:
CurrentTimeInSecs ( 0 ),
TotSecondsDiff( 0 ) ,
SecondsDiff( 0 ) ,
MinutesDiff( 0 ),
prv(0);

plot1(0, "Zero");

if date = date[1] then
begin
CurrentTimeInSecs = ( ComputerDateTime - DateToJulian( Date ) ) * 86400 ;
TotSecondsDiff = CurrentTimeInSecs - CurrentTimeInSecs[1] ;
end;

If TotSecondsDiff > delay then
begin
prv = (ticks/TotSecondsDiff) * 60 * barinterval ;
IF prv > ticks[1] THEN
setPlotColor( 2, UpPRV)
else
SetPlotColor(2, dnPRV);
Plot2 (prv, "PRV");
end;

if c > c[1] then
color = upcol
else
if c < c[1] then
color = dncol
else
color = color[1];

Plot2[1] (ticks[1], "PRV");
plot3(ticks, "Volume", color);

[danhoyda]

I LOVE this indicator. Thank you very much for this. Could someone explain to clearly what exactly it is doing. My code understanding is very limited. Any help would be appreciated.

Thanks!

Dan

[onesmith]

PRV estimates total volume (of a completed bar), while the volume is still incomplete and developing.

The version in this thread extrapolates the rate of developing volume (i.e. it pro-rates the volume) based on the assumption it will remain steady until the bar completes. This is a beginning point from which to begin searching for formulas that can distinguish viable signals. I have extensively developed skills for cataloging data such as this and performing any analysis imaginable. Just so you know in case anyone has an idea worth exploring and needs help implementing it. I don't have anything forsale and never will. I abhor that category of failed traders who fleece sheep to cover their trading losses.

Originally Posted by danhoyda »

I LOVE this indicator. Thank you very much for this. Could someone explain to clearly what exactly it is doing. My code understanding is very limited. Any help would be appreciated.

Thanks!

Dan

[Tams]

this code by TXUK is a good platform for further development...

I would welcome all users to share their enhancements.

Sharing is good.... that's how we grow.

[danhoyda]

thanks onesmith. I have been interested in the murray math indicator do you know anything about it?

[Tams]

Originally Posted by danhoyda »

thanks onesmith. I have been interested in the murray math indicator do you know anything about it?

please start a new thread if you would like to change the subject

[BlueHorseshoe]

Originally Posted by onesmith »

I abhor that category of failed traders who fleece sheep to cover their trading losses.

Ha! And then there's that category who fleece sheep but don't have any trading losses to cover because they don't actually trade . . .

OneSmith has provided me with valuable coding assistance recently and didn't attempt to sell me anything, so I'll happily second his statement above and recommend seeking help from him with coding.