Custom ThinkScript Indicator Scripts for the Think Or Swim Platform
Posted in Indicator on Dec 16th, 2009
In trading we constantly check to see if volume is confirming price. Rising price accompanied by falling volume is often the signal for an impending reversal. The Volume Trend plots the linear regression of the volume for the user specified last number of bars. The color of line reflects the slope – green for rising [...]
Posted in Indicator on Oct 25th, 2009
After numerous subscriber requests, I put together a daily version of both the Volume Profile and TPO Profile scripts. Whereas the original profile studies total all data displayed on the current TOS chart, the new versions will display only one day’s data and the associated profile. The daily volume point of control (VPOC) is shown [...]
Posted in Indicator on Aug 25th, 2009
Markos Katsanos’ Finite Volume Element (FVE) indicator was first described in “Detecting Breakouts” in the April 2003 issue “Technical Analysis of Stocks and Commodities.” The FVE is a money flow indicator but with several key differences from Chakin’s Money Flow or On Balance Volume. Unlike these money flow indicators which add or subtract all volume [...]
Posted in Indicator on Aug 13th, 2009
I’ve had several requests to code various indicators designed by Tom DeMark and here is one such study. The DeMark Pressure Ratio indicator seeks to quantify accumulation/distribution through a combination of volume and price action. The short entry is indicated by the oscillator exiting from above the overbought line at 75 with the long entry [...]
Posted in Indicator on Jul 26th, 2009
Several forum members requested a study to compare the current price bar’s volume to historical volume in the same bar on previous days. The resulting study displays the current bar’s volume as a percentage of the historical average for as much data is available in your chart. The 20 day charts will provide the most [...]
