Hi Chad,
On the volume candles, using the volume profile setting with delta for the color of the background, is the delta coloring comparing the same price or the imbalance to obtain the delta value?
Thanks!
Right now, the Delta Color option uses the delta computed by comparing buy and sell volume at the same price, not imbalance. I will add an imbalance option for next release of Volume Candles. So for any given price, would you like to see it colored based on buy volume at that price relative to sell volume of price below it? or sell volume of that price relative to buy volume of the price above it? I can provide an option for both "ask imbalance" and "bid imbalance". Maybe another option "max imbalance which would consider both and present whichever had the largest magnitude?
That is a great question given that the volume is not split into bid and ask values similar to a footprint. Is it possible to either cut the background block in half, or change it to diagonal squares (one square on the bid connected to a square on the ask, colored black or red/green depending on the imbalance)? Or something similar to trade dots or MPH where we can have bid and ask separate and slice them or choose the location relative to the bar so they can be offset left and right? Thanks!
Hello,
I was wondering how I can calculate total volume of every PnF column and present it the way it is in the following picture? Meaning, total down volume of the bottom of the column and total up volume at the top of the column.
Hi,
in order to achieve any kind of custom data display, the best solution is to use the paint indicator using DIsplay "label only" as in the chart shared here : https://www.linnsoft.com/charts/00-pnf-chart-es
There are 2 custom indicators needed in that chart, with one corresponding to the display "location" which involves the PNF bar direction
(PNF_STATE=PNF_DOWN)*(LO-2*TINC)+(PNF_STATE=PNF_UP)*(HI+2*TINC)
The other one corresponds to the data you want to display, here the Volume
Please note that you could also "color" the label box according to any kind of criteria using the Paint indicator rules
Let's take a very simple example, aka coloring the label box according to the volume momentum. In that case, I do
1) create a Custom Indicator equal to VOL-VOL.1
2) add 2 specific paint indicators (using the option "indicator value") to color the label box in light blue (if volume is increasing) or dark blue (if volume is decreasing)
3) select the "paint label" option at the bottom of the setup window
I hope this is helpful. Any kind of data display on a chart may be achieved this way with the Paint Indicator
And, by adding several paint indicators, you can stack as much information as you want (two labels max per PI)
Cheers
Eddy
Hi Eddy,
Thank you for your reply!
I tried to do it , did not work out...I am a lousy programmer .
Seems like yoou are proficient with programming. Could you please advuse me on something else?
I saw a voluume comparison indicator on youtube.
The number in the renko brick compares tje vokume to othe bricks. For example, 9 means that thus volume in this brick is bigger than any volume over 9 previous bricks.
Hi Eyal,
here is a chart with the indicator setup you are looking for https://www.linnsoft.com/charts/barsincehighervolume-es
To get the number of bars since the higher volume bar, you need to create a custom indicator with the STAT(VOL) syntax, with the STAT token set up as "Bar since the Higher Value"
This is a nice example to show how powerful the RTL language is, as this would require at least few lines of code in any other trading software...
Cheers
Eddy
Hi Chad,
On the volume candles, using the volume profile setting with delta for the color of the background, is the delta coloring comparing the same price or the imbalance to obtain the delta value?
Thanks!
Right now, the Delta Color option uses the delta computed by comparing buy and sell volume at the same price, not imbalance. I will add an imbalance option for next release of Volume Candles. So for any given price, would you like to see it colored based on buy volume at that price relative to sell volume of price below it? or sell volume of that price relative to buy volume of the price above it? I can provide an option for both "ask imbalance" and "bid imbalance". Maybe another option "max imbalance which would consider both and present whichever had the largest magnitude?
That is a great question given that the volume is not split into bid and ask values similar to a footprint. Is it possible to either cut the background block in half, or change it to diagonal squares (one square on the bid connected to a square on the ask, colored black or red/green depending on the imbalance)? Or something similar to trade dots or MPH where we can have bid and ask separate and slice them or choose the location relative to the bar so they can be offset left and right? Thanks!
It would be great to have DELTA avail as a option to label the candles. Making it closer to a footprint chart.
Would it be possible to have an option of "Delta Profile" similar to the profile indicator?
VolumeScope has a couple of Delta Profile background options.
Hello,
I was wondering how I can calculate total volume of every PnF column and present it the way it is in the following picture? Meaning, total down volume of the bottom of the column and total up volume at the top of the column.
Hi,
in order to achieve any kind of custom data display, the best solution is to use the paint indicator using DIsplay "label only" as in the chart shared here :
https://www.linnsoft.com/charts/00-pnf-chart-es
There are 2 custom indicators needed in that chart, with one corresponding to the display "location" which involves the PNF bar direction
(PNF_STATE=PNF_DOWN)*(LO-2*TINC)+(PNF_STATE=PNF_UP)*(HI+2*TINC)
The other one corresponds to the data you want to display, here the Volume
Please note that you could also "color" the label box according to any kind of criteria using the Paint indicator rules
Let's take a very simple example, aka coloring the label box according to the volume momentum. In that case, I do
1) create a Custom Indicator equal to VOL-VOL.1
2) add 2 specific paint indicators (using the option "indicator value") to color the label box in light blue (if volume is increasing) or dark blue (if volume is decreasing)
3) select the "paint label" option at the bottom of the setup window
Both Paint indicator setups are shown below, with the second chart definition available here :
https://www.linnsoft.com/charts/00-pnf-chart-part-es
I hope this is helpful. Any kind of data display on a chart may be achieved this way with the Paint Indicator
And, by adding several paint indicators, you can stack as much information as you want (two labels max per PI)
Cheers
Eddy
Hi Eddy,
Thank you for your reply!
I tried to do it , did not work out...I am a lousy programmer .
Seems like yoou are proficient with programming. Could you please advuse me on something else?
I saw a voluume comparison indicator on youtube.
The number in the renko brick compares tje vokume to othe bricks. For example, 9 means that thus volume in this brick is bigger than any volume over 9 previous bricks.
Hi Eyal,
here is a chart with the indicator setup you are looking for
https://www.linnsoft.com/charts/barsincehighervolume-es
To get the number of bars since the higher volume bar, you need to create a custom indicator with the STAT(VOL) syntax, with the STAT token set up as "Bar since the Higher Value"
This is a nice example to show how powerful the RTL language is, as this would require at least few lines of code in any other trading software...
Cheers
Eddy
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