jdhadwin

Volume Plus (Volume+)

View Total Volume , Bull Volume , and/or Bear Volume . View Volume Effectiveness to reveal how Volume has effected the price. View the Moving Average of any of the above metrics, selecting one or more types of moving averages( SMA , EMA , RMA, SWMA , VWMA , WMA , or ALMA ). Create nearly infinite crossovers by activating the Secondary Moving Average and choosing a longer or shorter Length. Use the highlighter to quickly filter out noise and focus the events you're searching for, by choosing one or more highlight-scenarios from the Highlighting Menu. Use the Average Amplifier to fine tune your Highlighting results.

Use as an ordinary Volume Indicator

Show the Bullish volume within Total Volume

Show the Bearish volume within Total Volume

Show the Bullish and Bearish volume simultaneously within Total Volume

Create crossovers like this one, Bullish Volume Average with Bearish Volume Average

Show the gas mileage of volume , the Volume Effectiveness

Create crossovers like this, Volume Effectiveness 14 with Volume Effectiveness 60

Use Amplifiers to show things that are usually out of scale with one another, like Volume Effectiveness with Volume

Use the Highlighter to show anything, like here, when Bearish Volume was above average AND Volume Effectiveness was under average

From left to right, the Indicator Values are as follows:
1) Total True Volume (red, green, or gray when viewed alongside Bulls/Bears)
2) Volume Winner - Bulls v/s Bears (red or green)
3) Volume Loser - Bulls v/s Bears (red or green)
4) Volume Effectiveness (blue)
5) Design Spacer - Ignore This (green)
6) Design Spacer - Ignore This (red)
7) Total True Volume Primary Moving Average (dark gray)
8) Total True Volume Secondary Moving Average (dark gray)
9) Inferred Bullish Volume Primary Moving Average (dark green)
10) Inferred Bullish Volume Secondary Moving Average (dark green)
11) Inferred Bearish Volume Primary Moving Average (dark red)
12) Inferred Bearish Volume Secondary Moving Average (dark red)
13) Volume Effectiveness Primary Moving Average (blue)
14) Volume Effectiveness Secondary Moving Average (blue)

Click the sprocket and you'll find the following settings (which are explained below):

Total True Volume - This is your everyday, ordinary volume indicator, a total sum of the volume from each candle.

Inferred Bullish Volume - This subtracts Bearish Volume out of the Total True Volume . But without the bull-volume data from the exchange, we can only forensically infer the bullish volume by evaluating OHLC data to guess what ratio of upward v/s downward movement happened within the candle.

Inferred Bearish Volume - This subtracts Bullish Volume out of the Total True Volume . But without the bear-volume data from the exchange, we can only forensically infer the bearish volume by evaluating OHLC data to guess what ratio of downward v/s upward movement happened within the candle.

Volume Effectiveness - This shows how much price movement occurred for each unit of Volume , by dividing the Price Change of each candle by the Total True Volume of each candle. If this volume were gas-mileage, then Volume would be the gas and Price would be the mileage.

• Inferred Effectiveness - Rather than using the Price Change divided by the Total True Volume , this method of determining Volume Effectiveness uses the Total Price-Mileage divided by the Total True Volume . The Total Price-Mileage is determined by figuring the high minus low, the wick times two, and the tail times two, and ad
Release Notes: Fixed a bug where the Background Highlighter only worked while other Highlighting modes were simultaneously enabled. Now the Background Highlighter works independently, as it was intended.
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...too...many...options, nose...bleeding!
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thank you!!:) respect!
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Congrats on this very nice work. Been looking for exactly this. Thank you for sharing.
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TO USE THE CANDLE HIGHLIGHTER in the Highlighting Section of this indicator, go to the TRADINGVIEW CHART SETTINGS (by clicking the sprocket at top right of any chart), navigate to the STYLE TAB, and UNCHECK "BORDERS". Then your Candle Highlighter will function as intended :)
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hi
Congratulations on your work, it's really interesting.
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SETTINGS DESCRIPTIONS:
Total True Volume - This is your everyday, ordinary volume indicator, a total sum of the volume from each candle.

Inferred Bullish Volume - This subtracts Bearish Volume out of the Total True Volume. But without the bull-volume data from the exchange, we can only forensically infer the bullish volume by evaluating OHLC data to guess what ratio of upward v/s downward movement happened within the candle.

Inferred Bearish Volume - This subtracts Bullish Volume out of the Total True Volume. But without the bear-volume data from the exchange, we can only forensically infer the bearish volume by evaluating OHLC data to guess what ratio of downward v/s upward movement happened within the candle.

Volume Effectiveness - This shows how much price movement occurred for each unit of Volume, by dividing the Price Change of each candle by the Total True Volume of each candle. If this volume were gas-mileage, then Volume would be the gas and Price would be the mileage.

• Inferred Effectiveness - Rather than using the Price Change divided by the Total True Volume, this method of determining Volume Effectiveness uses the Total Price-Mileage divided by the Total True Volume. The Total Price-Mileage is determined by figuring the high minus low, the wick times two, and the tail times two, and adding these three together.

Total True Volume MA - Uses the Moving Average Settings (below) to generate a moving average (MA) of the Total True Volume (above). When SMA is selected in the Moving Average Selector (below), with a Primary MA Length of twenty, this is your everyday, ordinary volume moving average.

• Inferred Bullish Volume MA - Uses the Moving Average Settings and Selector to generate a MA of the Inferred Bullish Volume (above).

• Inferred Bearish Volume MA - Uses the Moving Average Settings and Selector to generate a MA of the Inferred Bearish Volume (above).

• Volume Effectiveness MA - Uses the Moving Average Settings and Selector to generate a MA of the Volume Effectiveness (above).
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Nice!
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HIGHLIGHTING SECTION
Use Highlighter When... - Mutes or defocuses results that you don't want to highlight, according to your settings (below).

Use Background Highlighter When... - Highlights the background yellow according to your settings (below).

Use Candle Highlighter When... - Mutes or defocuses candles/bars that you don't want to highlight on the main chart, according to your settings (below).

(when selecting multiple options below, they will be combined with the word AND, not OR)
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EVENT HIGHLIGHTING
• Volume Above Average - Highlight when Total True Volume is above the Primary Total True Volume MA

• Volume Below Average - Highlight when Total True Volume is below the Primary Total True Volume MA

• Bullish or Bearish Volume Above Average - Highlight when Inferred Bullish Volume is above the Primary Inferred Bullish Volume MA or when the Inferred Bearish Volume is above the Primary Inferred Bearish Volume MA

• Bullish or Bearish Volume Below Average - Highlight when Inferred Bullish Volume is below the Primary Inferred Bullish Volume MA or when the Inferred Bearish Volume is below the Primary Inferred Bearish Volume MA

• Bullish Volume Above Average - Highlight when Inferred Bullish Volume is above the Primary Inferred Bullish Volume MA

• Bullish Volume Below Average - Highlight when Inferred Bullish Volume is below the Primary Inferred Bullish Volume MA

• Bearish Volume Above Average - Highlight when Inferred Bearish Volume is above the Primary Inferred Bearish Volume MA

• Bearish Volume Below Average - Highlight when Inferred Bearish Volume is below the Primary Inferred Bearish Volume MA

• Volume Effectiveness Above Average - Highlight when Volume Effectiveness is above the Primary Volume Effectiveness MA

• Volume Effectiveness Below Average - Highlight when Volume Effectiveness is below the Primary Volume Effectiveness MA
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CROSSOVER HIGHLIGHTING
• Primary Volume MA Above Secondary MA - Highlight from crossover when the Primary Total True Volume MA is above the Secondary Total True Volume MA

• Primary Volume MA Below Secondary MA - Highlight from crossover when the Primary Total True Volume MA is below the Secondary Total True Volume MA

• Primary Bullish Volume MA Above Secondary MA - Highlight from crossover when the Primary Inferred Bullish Volume MA is above the Secondary Inferred Bullish Volume MA

• Primary Bullish Volume MA Below Secondary MA - Highlight from crossover when the Primary Inferred Bullish Volume MA is below the Secondary Inferred Bullish Volume MA

• Primary Bearish Volume MA Above Secondary MA - Highlight from crossover when the Primary Inferred Bearish Volume MA is above the Secondary Inferred Bearish Volume MA

• Primary Bearish Volume MA Below Secondary MA - Highlight from crossover when the Primary Inferred Bearish Volume MA is below the Secondary Inferred Bearish Volume MA

• Primary Volume Effectiveness MA Above Secondary MA - Highlight from crossover when the Primary Volume Effectiveness MA is above the Secondary Volume Effectiveness MA

• Primary Volume Effectiveness MA Below Secondary MA - Highlight from crossover when the Primary Volume Effectiveness MA is below the Secondary Volume Effectiveness MA
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