spacetrader

[ST] Volume Flow v6

Latest update to the volume flow indicator. It calculates volume fraction up and down based on candle shape: body counts twice one way, wicks count both ways. Total volume (positive + negative) is the regular volume . Additionally, I added breakout detection, oscillator, colored candles for easy trend following, reversal warnings, high and low volume alarms. Every aspect uses volume for calculations.

What some parts mean : http://i.imgur.com/nZu9rbe.png

Hope this helps someone, I use it myself as signals for confirmations. Tips are cool, but saying thanks is plenty as well :)
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Comments

Maybe this is more sensefull for lower timeframes but, for Occam's razor, I would say that, for green candles, the natural movement will be open -> low -> high -> close, because it is the shortest path to traverse the candle, and for bear candles, open -> high -> low -> close.

So for green candles, your fraction up will be the full price range, and your fraction down, the wicks.

The complete price_path will be then 2*wicks + body, and for green candles:

fractionup = (high - low) / price_path
fractiondown = ((open - low) + (high - close)) / price_path

For bear candles, just swap the values.
+5 Reply
Thank you for sharing your hard work!
+2 Reply
Does this repaint?
+2 Reply
Phenix2Financial Phenix2Financial
+1 Reply
So just to clarify, there's no way to get the buy/sell volume into tradingview so this script in a way, reverse engineers it?
+2 Reply
thanks @spacetrader really good job
+2 Reply
thank you SO much!
+1 Reply
Thank you for sharing this. Very kind of you. Much appreciated.
+1 Reply
What I thought I was thinking

It feels good to know that there's already someone made it.

thank you!
+1 Reply
thank you for this script! just reading the "map" (what the colors mean), what do you mean by **serious bull warning**? is that bullish reversal in downtrend, do i get it right?
+1 Reply
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