Volume Bias - Page 5 - Traders Laboratory Forums

Volume Bias · **Released**: 08-05-2009

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.

Tams · 08-12-2010, 12:20 PM

Quote:

Originally Posted by tucciotrader »

I know, I know...I only wish I had more...time! My Multicharts demo version is expiring in a week...

MultiCharts is a power tool; you won't regret it.

binthere · 08-13-2010, 10:05 PM

Tam, thank you for the code, i just pasted it into a new indicateor in easy language and it doesnt plot in my chart (it does verify!!)
using ts 8.8
do you have any idea what i;m doing wrong??
thank you man
binthere

Tams · 08-13-2010, 10:46 PM

which code are you using?
there is an update version in post #6.

maybe someone with tradestation can help.

binthere · 08-14-2010, 01:17 PM

thank you Tam
that is the coed i'm using, ill try to see if ts can help me,
regards, binthere

sw9 · 08-14-2010, 05:49 PM

Quote:

Originally Posted by binthere »

thank you Tam
that is the coed i'm using, ill try to see if ts can help me,
regards, binthere

Hi,

tradestation wont help you with a custom indicator. The indicator did not work for me either.

What you might want to try is the "Volume Ratio" indcator in TS, it will give you the same info. but on a line instead. A very underated indicator in my opinion.

Steve

binthere · 08-14-2010, 07:44 PM

Thanks SW9
i just emailed someone at TS, hopefully we'll get an answer bu monday, keepo ya posted
regards,
binthere

zapisy · 08-16-2010, 03:55 AM

Check this ELD for tradestation.

All the best,

Lukas

binthere · 08-16-2010, 10:02 AM

zapisy
ya r the man!
thank you, works great
binthere

Thread Tools
Show Printable Version Email this Page
Help Others By Rating This Thread
Help Others By Rating This Thread:

∧ Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
The Power of Weighted Bias	UrmaBlume	Technical Analysis	4	06-19-2009 03:42 PM
Retest on Lower Volume with Volume Gradient	walterw	Technical Analysis	3	04-16-2009 12:10 AM
NYSE Up Volume($UVOL)/Down Volume ($DVOL) Comparison	MC	Market Internals	23	02-09-2009 09:18 AM

New TL Account

Create New Account

Information and Contact

Featured Forums

Website Terms

The Following 13 Users Say Thank You to Tams For This Useful Post:
berrob (10-11-2010), bomberone1 (01-13-2011), cooper59 (01-01-2010), martas (08-30-2010), rjelles (08-26-2010), shrike (12-21-2009), simterann22 (08-23-2009), snoop (08-20-2010), teq56 (02-21-2011), TIKITRADER (08-05-2009), uufuk (11-20-2010), waverunner (08-23-2009), yiman (12-02-2009)

The Following 3 Users Say Thank You to zapisy For This Useful Post:
strader2 (08-16-2010), sw9 (08-16-2010), Tams (08-16-2010)