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.

[zapisy]

No problem

Lukas

[bobpi]

Same problem:

TS 8.6 (Build 2696)
3m
TFU10
TS

What is wrong?

[Tradewinds]

The ratio of the Volume Bias revolves around the Easy Language reserved Words:

• Upticks
• Ticks

• Upticks - Returns the number of ticks on a bar whose value is higher than the tick immediately preceding it.
• Ticks - Total number of Upticks and Downticks

As an example, I created a one line indicator: (tradestation)

Plot1(Upticks/Ticks, "Tick Ratio");

That one line of code is all you need to plot a lower study that shows the ratio. Of course, there is all kinds of different formatting that can be done. The main calculation is: "Upticks/Ticks" That's it. If I wanted to see when the ratio goes over 50 percent, I could add a center line at 0.5

Plot1(Upticks/Ticks, "Tick Ratio");
Plot2(0.5, "Center Line");

Now you have two lines of code.

If you want the ratio as text on the chart, this one line of code will do that:

Value1 = Text_New(D, T, H*1.001, NumToStr(Upticks/Ticks,2));

That one line of code puts the ratio over the high of the bar.

If you want it to be in different colors, or only display on the current bar, and not all the bars, or do other formatting, that is more lines of code. But the basics are very simple.

[bomberone1]

Are there any upgrades about code?

[bomberone1]

Do you have any improvments?

[zapisy]

I do not have,

Linetrol

[Tams]

Originally Posted by bomberone1 »

Are there any upgrades about code?

what kind of upgrade are you looking for?

I have a few more enhancements and variations to the original code,
but I have not decided on what to do with them yet.

[Tams]

Originally Posted by bomberone1 »

Do you have any improvments?

What kind of improvements do you have in mind?

I welcome all feedbacks and suggestions.