BUY & SELL PRICE TO VOLUME PRESSURE
By Ricardo M Arjona @XeL_Arjona
DISCLAIMER:
The Following indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets.
The embedded code and ideas within this work are FREELY AND PUBLICLY available on the Web for NON LUCRATIVE ACTIVITIES and must remain as is.
Pine Script code MOD's and adaptations by @XeL_Arjona with special mention in regard of:
WHAT IS THIS?
The following indicators try to acknowledge in a K-I-S-S approach to the eye (Keep-It-Simple-Stupid), the two most important aspects of nearly every trading vehicle: -- PRICE ACTION IN RELATION BY IT'S VOLUME --
Any important addition to this work MUST REMAIN PUBLIC by means of CreativeCommons CC & TradingView. -- 2015
By Ricardo M Arjona @XeL_Arjona
DISCLAIMER:
The Following indicator/code IS NOT intended to be a formal investment advice or recommendation by the author, nor should be construed as such. Users will be fully responsible by their use regarding their own trading vehicles/assets.
The embedded code and ideas within this work are FREELY AND PUBLICLY available on the Web for NON LUCRATIVE ACTIVITIES and must remain as is.
Pine Script code MOD's and adaptations by @XeL_Arjona with special mention in regard of:
- Buy ( Bull ) and Sell ( Bear ) "Power Balance Algorithm" by: Stocks & Commodities V. 21:10 (68-72): "Bull And Bear Balance Indicator by Vadim Gimelfarb"
- Normalisation (Filter) from Karthik Marar's VSA work: http://karthikmarar.blogspot.mx
- Buy to Sell Convergence / Divergence and Volume Pressure Counterforce Histogram Ideas by: @XeL_Arjona
WHAT IS THIS?
The following indicators try to acknowledge in a K-I-S-S approach to the eye (Keep-It-Simple-Stupid), the two most important aspects of nearly every trading vehicle: -- PRICE ACTION IN RELATION BY IT'S VOLUME --
- Volume Pressure Histogram: Columns plotted in positive are considered the dominant Volume Force for the given period. All "negative" columns represents the counterforce Vol .Press against the dominant.
- Buy to Sell Convergence / Divergence: It's a simple adaptation of the popular "Price Percentage Oscillator" or MACD but taking Buying Pressure against Selling Pressure Averages, so given a Positive oscillator reading (>0) represents Bullish dominant Trend and a Negative reading (<0) a Bearish dominant Trend. Histogram is the diff between RAW Volume Pressures Convergence/Divergence minus Normalised ones (Signal) which helps as a confirmation.
- Volume bars are by default plotted from RAW Volume Pressure algorithms, but they can be as well filtered with Karthik Marar's approach against a "Total Volume Average" in favor to clean day to day noise like HFT .
- ALL NEW IDEAS OR MODIFICATIONS to these indicators are Welcome in favor to deploy a better and more accurate readings. I will be very glad to be notified at Twitter: @XeL_Arjona
Any important addition to this work MUST REMAIN PUBLIC by means of CreativeCommons CC & TradingView. -- 2015
// * BUY & SELL VOLUME TO PRICE PRESSURE // Ver. 1.15.b2.27.07.2015 // By Ricardo M Arjona @XeL_Arjona // // DISCLAIMER: // // The Following indicator/code IS NOT intended to be // a formal investment advice or recommendation by the // author, nor should be construed as such. Users // will be fully responsible by their use regarding // their own trading vehicles/assets. // // The embedded code and ideas within this work are // FREELY AND PUBLICLY available on the Web // for NON LUCRATIVE ACTIVITIES and must remain as is. // // Pine Script code MOD's and adaptations by @XeL_Arjona // with special mention in regard of: // + Buy (Bull) and Sell (Bear) "Power Balance Algorithm" by: // Stocks & Commodities V. 21:10 (68-72): // "Bull And Bear Balance Indicator by Vadim Gimelfarb" // + Normalisation (Filter) from Karthik Marar's VSA work: // http://karthikmarar.blogspot.mx // + Buy to Sell Convergence / Divergence and Volume Pressure // Conunterforce Histogram Ideas by: @XeL_Arjona // // WHAT IS THIS? // // The following indicators try to acknowledge in a K-I-S-S // approach to the eye (Keep-It-Simple-Stupid), the two most // important aspects of nearly every trading vehicle: // -- PRICE ACTION IN RELATION BY IT'S VOLUME -- // // A) Volume Pressure Histogram: // Columns plotted in positive are considered the dominant // Volume Force for the given period. All "negative" columns // represents the counterforce Vol.Press against the dominant. // // B) Buy to Sell Convergence / Divergence: // It's a simple adaptation of the popular "Price // Percentage Oscillator" or MACD but taking Buying Pressure // against Selling Pressure Averages, so given a Positive // oscillator reading (>0) represents Bullish dominant Trend // and a Negative reading (<0) a Bearish dominant Trend. // Histogram is the diff between RAW Volume Pressures // Convergence/Divergence minus Normalised ones (Signal) // which helps as a confirmation. // // C) Volume bars are by default plotted from RAW Volume // Pressure algorithms, but they can be as well filtered // with Karthik Marar's approach against a "Total Volume // Average" in favor to clean day to day noise like HFT. // // D) ALL NEW IDEAS OR MODIFICATIONS to these indicators are // Welcome in favor to deploy a better and more accurate readings. // I will be very glad to be notified at Twitter: @XeL_Arjona // // Any important adition to this work MUST REMAIN // PUBLIC by means of CreativeCommons CC & TradingView. // 2015 // ////////////////////////////////////////////////////////////////// study("BUY & SELL VOLUME TO PRICE PRESSURE by @XeL_Arjona", shorttitle="BSVP_XeL", precision=0) signal = input(title="Base for FastMA Periods:", type=integer, defval=3) long = input(title="Buy to Sell Conv/Div Lookback:", type=integer, defval=27) vmacd = input(true, title="Buy to Sell Convergence/Div OSC:") vinv = input(false, title="Buy to Sell Conv/Div as cummulative:") norm = input(false, title="Normalised (Filtered) Version:") //vapi = input(false, title="Display Acc/Dist % :") vol = iff(volume > 0, volume , 1) // PRESSURE ALGORITHMS AND VARIABLES TR = atr(1) // Bull And Bear "Power-Balance" by Vadim Gimelfarb Algorithm's BP = iff(close<open, iff(close[1]<open, max(high-close[1], close-low), max(high-open, close-low)), iff(close>open, iff(close[1]>open, high-low, max(open-close[1], high-low)), iff(high-close>close-low, iff(close[1]<open, max(high-close[1],close-low), high-open), iff(high-close<close-low, iff(close[1]>open, high-low, max(open-close[1], high-low)), iff(close[1]>open, max(high-open, close-low), iff(close[1]<open, max(open-close[1], high-low), high-low)))))) SP = iff(close<open, iff(close[1]>open, max(close[1]-open, high-low), high-low), iff(close>open, iff(close[1]>open, max(close[1]-low, high-close), max(open-low, high-close)), iff(high-close>close-low, iff(close[1]>open, max(close[1]-open, high-low), high-low), iff(high-close<close-low, iff(close[1]>open, max(close[1]-low, high-close), open-low), iff(close[1]>open, max(close[1]-open, high-low), iff(close[1]<open, max(open-low, high-close), high-low)))))) TP = BP+SP // RAW Pressure Volume Calculations BPV = (BP/TP)*vol SPV = (SP/TP)*vol TPV = BPV+SPV BPVavg = ema(ema(BPV,signal),signal) SPVavg = ema(ema(SPV,signal),signal) TPVavg = ema(wma(TPV,signal),signal) // Karthik Marar's Pressure Volume Normalized Version (XeL-MOD.) VN = vol/ema(vol,long) BPN = ((BP/ema(BP,long))*VN)*100 SPN = ((SP/ema(SP,long))*VN)*100 TPN = BPN+SPN nbf = ema(wma(BPN,signal),signal) nsf = ema(wma(SPN,signal),signal) tpf = ema(wma(TPN,signal),signal) ndif = nbf-nsf // Conditional Selectors for RAW/Norm BPc1 = BPV>SPV ? BPV : -abs(BPV) BPc2 = BPN>SPN ? BPN : -abs(BPN) SPc1 = SPV>BPV ? SPV : -abs(SPV) SPc2 = SPN>BPN ? SPN : -abs(SPN) BPcon = norm ? BPc2 : BPc1 SPcon = norm ? SPc2 : SPc1 BPAcon = norm ? nbf : BPVavg SPAcon = norm ? nsf : SPVavg TPAcon = norm ? tpf : TPVavg // Volume Pressure Convergence Divergence by XeL_Arjona vpo1 = vinv ? (( sum(BPVavg,long)-sum(SPVavg,long))/sum(TPVavg,long))*100 : ((BPVavg-SPVavg)/TPVavg)*100 vpo2 = vinv ? (( sum(nbf,long)-sum(nsf,long))/sum(tpf,long))*100 : ((nbf-nsf)/tpf)*100 vph = nz((vpo1 - vpo2),0) // Plot Indicator histC = vph > vph[1] ? blue:#BA00AA Vpo1C = vpo1 > 0 ? green:red Vpo2C = vpo2 > 0 ? green:red plot(vmacd ? na:SPcon, color=red, title="SELLING", style=columns, linewidth=3, transp=80) plot(vmacd ? na:BPcon, color=green, title="BUYING", style=columns, linewidth=3, transp=80) plot(vmacd ? na:SPAcon, color=red, title="SPAvg", style=line, linewidth=2) //ema(BearPower*SPV,signal) plot(vmacd ? na:BPAcon, color=green, title="BPAvg", style=line, linewidth=2) //ema(BullPower*BPV,signal) plot(vmacd ? vpo1:na, color=Vpo1C,title="VPO1", style=line, linewidth=3) plot(vmacd ? vpo2:na, color=Vpo2C,title="VPO2", style=line, linewidth=1) plot(vmacd ? vph:na, color=histC, title="VPH", style=columns, linewidth=3, transp=90)