joe_vijay

Buy/Sell Pressure Raw

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// This is a port of the bar by bar Buy/Sell pressure indicator by Karthik Marar.
// See below link for further details.
// http://karthikmarar.blogspot.com/2012/09/buying-and-selling-pressure-indicator.html
// The only difference being I used the Hull moving average instead of WMA which the HullMA is a derivative of.
// Credits to Chris Moody for the HullMA code.
// All disclaimers apply
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// This is a port of the bar by bar Buy/Sell pressure indicator by Karthik Marar.
// See below link for further details. 
// http://karthikmarar.blogspot.com/2012/09/buying-and-selling-pressure-indicator.html
// The only difference being I used the Hull moving average instead of WMA which the HullMA is a derivative of.
// Credits to Chris Moody for the HullMA code.
// All disclaimers apply

study("Buy/Sell Pressure Raw ", shorttitle="BSP RAW")
sp = high - close
bp = close - low
hline(0)

hullma(src, len) => 
        wma(2*wma(src, len/2)-wma(src, len), round(sqrt(len)))

bpavg = hullma(bp,60)
spavg = hullma(sp,60)
nbp = bp/bpavg
nsp = sp/spavg
diff1 = nbp-nsp
Varg = hullma(volume,60)
nv = volume/Varg
nbfraw = nbp * nv
nsfraw = nsp * nv

plot(nbfraw, title = "Buy Pressure", style = columns, color= lime)
plot(-nsfraw, title = "Sell Pressure", style = columns, color= red)
It would be awesome if the normal volume bars could be replaced with this indicator.
Reply
Hey joe, thanks for your indicator, I have been looking at the site you suggested and the guy as another indicator below the one you made, that is called Buy Sell Pressure with Histogram, you can see it in the picture. Well if you think you would be able to develop it I would be interested ! Cheers
Reply
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