BE_VolumeAnalysis_Pro

4 Sep 2021

Traders rely on volume as a key metric because it lets them know the liquidity level of an asset. If enough volumes are supplied (Buy | Sell) definitely prices respect the supplied volume.
However, the word “Supplied” is here indicated as “Pressure”. If there is enough Buying pressure then sellers will be kicked out easy and vis-versa.
Index traders normally refers to future contract volumes and hence we have provided an option to refer the volumes from the near expiry contracts.
Mathematical calculation is involved in this study to arrive at the Appx volume for the options such as Volume Splitter. If pressure is seen from buyer side, then volumes will be shown for buyers more and similarly for sellers. Each candle will have both buyers’ volume vs Seller Volume.
Similar study have be made along with some averages to arrive at the buying | Selling pressure for the Options “Volume Pressure & Vol Pres 2”. If price has to move up buying volumes should get pumped in and for prices to fall down selling volumes should be pumped in to the market. Quantum of pressure is being calculated accordingly and shown as the areas for option “Volume Pressure” and Candles for option “Vol Pres 2”.
Also we have shown some additional built in indicators like OBV and Price Volume Trend along with faith plots to show the traders extra information about the volumes to take some wise trades.

Note: Study involves more of price action calculations (mathematical calculations only).

12 Sep 2021

Nota Keluaran

In the current version, have added labels for the Volume Pressure option wherein if the volume is quite low, it is visually difficult to understand magnitude of the change happening and hence have added labels to show the same below the area.

it shows the change in 3 different length.
1. Change from previous candle
2. Change from last 3 candle
3. Change from last 8 candle

Negative change indicates volume is dipping downwards and vise versa for positive values

5 Okt 2021

Nota Keluaran

Couple of Bug Fixes & Updated New Volume Type Option
1. Now Track Buy Sell Volume on the Real Time.
2. Bottom Area display shows the prediction as to who will be owning the control : Bull or Bear.

Plz do share your feedback and let me know for any improvements.

23 Okt 2021

Nota Keluaran

Fixed few Bugs on the Calculations.

Trend Strength Bar:
Added Trend Strength Bar which is calculated based on the mathematical calculations using average types and the LR.

31 Okt 2021

Nota Keluaran

Improvised some tick data calculation. Also Introduced spark-lines kind of bars (lower time frame bars which works only on realtime bars) to show who is having control over the market? Bulls or the Bears? if so what percentage?

In total 4 sparkline bars are shown next to Trend strength Bar. Last one to the right is the real time update bar where in left 3 bars are showing the history.

Calculation involved is to ariev at what percentage of gain that Bulls have been recovering if the bears are owning the market.

1 Nov 2021

Nota Keluaran

Bug Fixed for not showing up the Buy Volumes

23 Jan 2022

Nota Keluaran

Major Updates:
1. Converted to Pine version 5
2. Revamped the algorithm to work faster and more accurate.
3. Enabled tool tips to understand how the indicator works and do's and don'ts
4. Enabled Alerts for volume Pressure Labels.

Minor Updates
1. couple of unused inputs from the User's feedback have been removed
2. kept the codes clean and tidy.

What you could expect from the script.
1. Easy understandable info

2. Message which gets plotted on the chart for better understanding and users can set their alerts on them too.





Regards...

26 Jan 2022

Nota Keluaran

Major Update list:
1. Improvised the Algorithm for calculating Realtime Data.
2. Now you can set the Alerts for inter bar spikes (Real time Data alert)
3. Tool tips are more helpful.

Minor Update:
1. fixed few bugs and cleaned up few codes.

Regards.