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Bear and Bull volume indicator
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=72345
Forum: 17 · Topic 72345 · 7 post(s)
Bear and Bull volume indicator
Apprentice · Mon Jun 06, 2022 10:34 am
Bear and Bull volume indicator.lua
Re: Bear and Bull volume indicator
Mountaintrader · Mon Jul 18, 2022 11:52 pm
Hi Apprentice,
Studying this indicator, I find the sum of the Bearish and Bullish volume values of most closed Bearish candles is generally of a negative value, and its closing price normally below its open price.
However the screenshot shows four closed BEARISH m5 candles labeled 1,2,3 &4 The sum of the numerical Bearish and Bullish volume value of these four candles is greater than +1
Example - Bearish Price Action Candle Labeled No1 at time stamp 09:10: Bullish volume value is +958.8 Bearish volume value is -700.24 Total +258.56 (Positive)
So candle No1 could be described as having Bearish Price Action with Positive Volume Action. The same goes for the candles labeled 2,3 & 4
Could the .Lua Bear and Bull Indicator be adapted to provide a chart indication (RGB horizontal line or Arrow) and sound files to play when the candle Price action closes: 1) BEARISH but the sum of the Bear/Bull volume is GREATER than +1 ? 2) BULLISH but the sum of the Bear/Bull volume is LESS than -1 ?
Thank you
Regards MT
Re: Bear and Bull volume indicator
Apprentice · Wed Jul 20, 2022 7:14 am
We have added your request to the development list. Development reference 434.
Re: Bear and Bull volume indicator
Apprentice · Tue Aug 15, 2023 11:59 am
Bear_and_Bull_volume_indicator.lua
Re: Bear and Bull volume indicator
fxlion · Thu Aug 24, 2023 12:48 am
hi apprendice,
can u create a MTF HISTOGRAM INDICATOR based on this indicator
TIME FRAMES: H1,H4,D1
IN H1 TIME FRAME IF BULL VOLUME > BEAR VOLUME IN H1 TIME FRAME THEN HISTOGRAME CREDIT POINT IS +1 IF BEAR VOLUME > BULL VOLUME IN H1 TIME FRAME THEN HISTOGRAME CREDIT POINT IS -1 OTHER WISE CREDIT POINT IS 0 A= H1 CREDIT POINT
IN H4 TIME FRAME IF BULL VOLUME > BEAR VOLUME IN H4 TIME FRAME THEN HISTOGRAME CREDIT POINT IS +1 IF BEAR VOLUME > BULL VOLUME IN H4 TIME FRAME THEN HISTOGRAME CREDIT POINT IS -1 OTHER WISE CREDIT POINT IS 0 B=H4 CREDIT POINT
IN D1 TIME FRAME IF BULL VOLUME > BEAR VOLUME IN D1 TIME FRAME THEN HISTOGRAME CREDIT POINT IS +1 IF BEAR VOLUME > BULL VOLUME IN D1 TIME FRAME THEN HISTOGRAME CREDIT POINT IS -1 OTHER WISE CREDIT POINT IS 0 C=D1 CREDIT POINT
HISTOGRAME VALUE=A+B+C
THANK U
Re: Bear and Bull volume indicator
Apprentice · Mon Aug 28, 2023 5:20 am
We have added your request to the development list. Development reference 777.
Re: Bear and Bull volume indicator
Apprentice · Tue Aug 29, 2023 4:56 am
