Downtick Volume / Uptick Volume - TradingED
This case study is based on a Volume study, but with three different Moving Average & Standard Deviation counts to compare different trends. The use of this indicator is for free use. Different functionalities have been added to the original code, such as alerts and signals that seek to make trading much easier to interpret by any type of trading operator of any experience level, from beginner to intermediate and advanced .
Key components:
• Downtick volume is the number of shares or contracts that change hands at a price lower than the prior transaction price.
• Downtick volume provides insight into the intensity of selling pressure.
• High volume on downticks indicates a strong desire for traders to sell.
Downtick volume is an indicator analysts and traders use to understand current movement within an asset's price. When a transaction occurs at a higher price than the previous transaction, that is an uptick. When a transaction occurs at a lower prior price than the previous transaction, that is a downtick.
Main functions of this indicator:
1) You can select the type of MOVING AVERAGE, among many available options ( SMA , EMA , DEMA , HMA , etc.)
2) The SOURCE for the counts can be determined by the trader (close, open, etc).
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES, HOURS or DAYS, depending on your trading style.
4) LENGTH, by default it will be loaded as in the STRATEGY, but considering the previous point, you can modify it according to your convenience.
5) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: BULLISH green, BEARISH red.
Main performance functions of this modified indicator:
I) In the case of the PERFORMANCE that appears at the right of the chart, you have the option to adjust the WIDTH of the box.
II) The TEXT of the PERFORMANCE is not modifiable, but you can customize the default color. *
III) The BACKGROUND of the PERFORMANCE, you can customize the default color. *
IV) You have the option to hide or show a PERFORMANCE that appears at the right of the chart.
Main functions to customize the style of this indicator:
a) You can select the color for VOLUME and for MA, with the colors that best suit you.
b) The CROSSOVER/CROSSUNDER signal between Uptick & Downtick Volume can also be customized. *
c) For any type of SIGNAL, it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
d) In the case of the LABELS that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
e) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is BEARISH or BULLISH , with the colors that best suit you. *
* By default, they are marked as red for downtrends and green for uptrends.
Key components:
• Downtick volume is the number of shares or contracts that change hands at a price lower than the prior transaction price.
• Downtick volume provides insight into the intensity of selling pressure.
• High volume on downticks indicates a strong desire for traders to sell.
Downtick volume is an indicator analysts and traders use to understand current movement within an asset's price. When a transaction occurs at a higher price than the previous transaction, that is an uptick. When a transaction occurs at a lower prior price than the previous transaction, that is a downtick.
Main functions of this indicator:
1) You can select the type of MOVING AVERAGE, among many available options ( SMA , EMA , DEMA , HMA , etc.)
2) The SOURCE for the counts can be determined by the trader (close, open, etc).
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES, HOURS or DAYS, depending on your trading style.
4) LENGTH, by default it will be loaded as in the STRATEGY, but considering the previous point, you can modify it according to your convenience.
5) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: BULLISH green, BEARISH red.
Main performance functions of this modified indicator:
I) In the case of the PERFORMANCE that appears at the right of the chart, you have the option to adjust the WIDTH of the box.
II) The TEXT of the PERFORMANCE is not modifiable, but you can customize the default color. *
III) The BACKGROUND of the PERFORMANCE, you can customize the default color. *
IV) You have the option to hide or show a PERFORMANCE that appears at the right of the chart.
Main functions to customize the style of this indicator:
a) You can select the color for VOLUME and for MA, with the colors that best suit you.
b) The CROSSOVER/CROSSUNDER signal between Uptick & Downtick Volume can also be customized. *
c) For any type of SIGNAL, it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
d) In the case of the LABELS that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
e) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is BEARISH or BULLISH , with the colors that best suit you. *
* By default, they are marked as red for downtrends and green for uptrends.
Notes de version:
New functions added!
Notes de version:
SD added!
Notes de version:
New version. Enjoy!
Notes de version:
New version!
Notes de version:
NEW FEATURES:
New Display Options:
Label Enhancements:
Alerts:
These updates significantly enhance the functionality and usability of the indicator, providing traders with a more comprehensive tool for volume analysis and identification. The improvements make the indicator more adaptable to different trading strategies and preferences, ultimately aiding in more informed and effective trading decisions.
New Display Options:
- Show Moving Average and Standard Deviation: Users can toggle the display of MA and SD lines, allowing them to focus on the metrics that matter most to their strategy.
- Show Volume Level: A new option to display the current volume level of each bar, with labels colored based on the bar's trend (red for bearish, green for bullish).
Label Enhancements:
- Labels for MA and SD Levels: Displays labels for MA and SD levels in blue, including the type and formatted level (e.g., "MA 1,000", "SD 500").
- Volume Level Label: Displays a label for the current volume level with the prefix "VOL", formatted with commas for readability (e.g., "VOL 1,000").
Alerts:
- Volume Crossing Moving Average Alert: Notifies users when volume crosses the Moving Average with a specific message..
- Volume Crossing Standard Deviation Alert: Notifies users when volume crosses the Standard Deviation with a specific message..
- Alert Conditions: Alerts are conditional on the respective inputs (showMA and showSD) and are set to trigger once per bar close, ensuring that users are only notified at the most relevant times.
These updates significantly enhance the functionality and usability of the indicator, providing traders with a more comprehensive tool for volume analysis and identification. The improvements make the indicator more adaptable to different trading strategies and preferences, ultimately aiding in more informed and effective trading decisions.
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