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Tams

Volume Bias

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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.

 

 

attachment.php?attachmentid=12736&stc=1&d=1249516130

 

 

 

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.jpg.48b8b35b95a5f45512a665dfee64d840.jpg

Volume_Bias_(MultiCharts).pla

Volume_Bias_(TS).txt

Edited by Tams

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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.

 

barbias.jpg

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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

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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.

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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 by Tams

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Tams,

 

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

 

Thanks, Steve

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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?

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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

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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 by sw9

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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.

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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?

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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!!!

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.

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 by Tams

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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.

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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.

 

tpt148.jpg

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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.

 

mini546a.jpg

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