Hi Coders,
Based on the first indicator made by Nicolas (https://www.prorealcode.com/prorealtime-indicators/bull-bear-volume-by-price-levels/),
I needed further options to have this indicator automatically adjusted on the Highest-high or the Lowest-Low of a determined lookback period. I wanted also to have a feel of the global volume per price without the breakdown of bull and bear volume depending on the closure direction.
Here it is!
Hope it will enlighten some price moves 😉
Please feel free to give to this code some enhancements or if you want to develop strategies based on it please share them.
Chris
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//VolumeByPrice HighLowBreakdown (mods by Kris75) //PRC_Bull&Bear Volume on Price | indicator //05.07.2018 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge defparam drawonlastbaronly=true // --- settings StartHighest = 1 //(0=false, 1=true) StartLowest = 0 //(0=false, 1=true) breakdown = 0 //(0=false, 1=true) ScaleFactor = 5 NbrBars=25 lookback=50 // --- end of settings if StartHighest then StartVol=highest[lookback](high) for j=lookback downto 0 do if high[j]=StartVol then LastStartBar = j drawtext("#LastStartBar#",barindex[j],high[j]) break endif next elsif not StartHighest and StartLowest then StartVol=lowest[lookback](high) for j=lookback downto 0 do if high[j]=StartVol then LastStartBar = j drawtext("#LastStartBar#",barindex[j],high[j]) break endif next else// (not StartHighest and not StartLowest) or (StartHighest and StartLowest) then LastStartBar = lookback endif LastStartBar = max(1,LastStartBar) hh=highest[LastStartBar](high) ll=lowest[LastStartBar](low) div = (hh-ll)/NbrBars i=0 volsum=summation[LastStartBar](volume) startbar = barindex[LastStartBar] while i<NbrBars do lrange=ll+div*i hrange=lrange+div volbull=0 volbear=0 for j = 1 to LastStartBar do if close[j]>=lrange and close[j]<=hrange then if close[j]>open[j] then volbull=volbull+volume[j] else volbear=volbear+volume[j] endif endif next bullbar = round((volbull*LastStartBar)/volsum)*scalefactor bearbar = round((volbear*LastStartBar)/volsum)*scalefactor volbar = round(((volbear+volbull)*LastStartBar)/volsum)*scalefactor //MaxWidth=barindex-startbar //volbar = round((volbear+volbull)/volsum)*MaxWidth*scalefactor if breakdown then drawrectangle(startbar,lrange,startbar+bullbar,hrange) coloured(46,139,87,255) drawrectangle(startbar,lrange,startbar+bearbar,hrange) coloured(255,0,0,255) if bullbar>bearbar then drawtext("■",startbar+bullbar,(lrange+hrange)/2,Dialog,Bold,22) coloured(46,139,87) else drawtext("■",startbar+bearbar,(lrange+hrange)/2,Dialog,Bold,22) coloured(255,0,0) endif drawvline(barindex[lookback]) elsif not breakdown then drawrectangle(startbar,lrange,startbar+volbar,hrange) coloured(46,139,87,255) endif drawvline(barindex[LastStartBar]) i=i+1 wend return |
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