Re: Bear and Bull volume indicator
Posted:
Mon Jul 18, 2022 11:52 pm
by Mountaintrader
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
Posted:
Wed Jul 20, 2022 7:14 am
by Apprentice
We have added your request to the development list.
Development reference 434.
Re: Bear and Bull volume indicator
Posted:
Thu Aug 24, 2023 12:48 am
by fxlion
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
Posted:
Mon Aug 28, 2023 5:20 am
by Apprentice
We have added your request to the development list.
Development reference 777.