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Volume level support and resistance (EasyLanguage)
Updated: Views / Replies:14,815 / 41
Created: by Big Mike Attachments:7

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Volume level support and resistance (EasyLanguage)

  #41 (permalink)
Trading for Fun
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
Posts: 120 since Feb 2012
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Big Mike View Post
I am still quite new at EL programming, so forgive me

This little indicator just plots some interesting support and resistance areas solely based on where the majority of volume took place. I use it on a 5 minute chart, and it looks like this:

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You'll need a semi-wide right margin to see the text, or you can edit the indicator itself if you want to adjust that. d1..d5 just represents how many days back the line represents, I have it set to do a 5-day rolling action now.

All the lines are drawn ahead of time and do not change intraday. Decide for yourself it is useful or not. The code itself could use some refinement, I am sure. Please post enhancements!

length ),
piv1c    white ),
piv2c    blue ),
piv3c    lightgray ),
piv4c    green ),
piv5c    magenta ),
pivstyle ),
textscale );
piv0    ),
piv1    ),
piv2    ),
piv3    ),
piv4    ),
piv5    ),
volph    ),
piv1id    ),
piv2id    ),
piv3id    ),
piv4id    ),
piv5id ),
piv1tid ),
piv2tid ),
piv3tid ),
piv4tid ),
piv5tid );
date <> date[1then begin
piv5    piv4;
piv4    piv3;
piv3    piv2;
piv2    piv1;
piv1    piv0;

date date[1then begin
piv1id TL_New(datesessionstarttime(01), piv1datesessionendtime(01), piv1);
piv2id TL_New(datesessionstarttime(01), piv2datesessionendtime(01), piv2);
piv3id TL_New(datesessionstarttime(01), piv3datesessionendtime(01), piv3);
piv4id TL_New(datesessionstarttime(01), piv4datesessionendtime(01), piv4);
piv5id TL_New(datesessionstarttime(01), piv5datesessionendtime(01), piv5);
piv1tid Text_New(dateMinlist(Time 30SessionEndTime(01) + 100), piv1 - (textscale MinMove/PriceScale), "[ v-d1 ]");
piv2tid Text_New(dateMinlist(Time 30SessionEndTime(01) + 100), piv2 - (textscale MinMove/PriceScale), "[ v-d2 ]");
piv3tid Text_New(dateMinlist(Time 30SessionEndTime(01) + 100), piv3 - (textscale MinMove/PriceScale), "[ v-d3 ]");
piv4tid Text_New(dateMinlist(Time 30SessionEndTime(01) + 100), piv4 - (textscale MinMove/PriceScale), "[ v-d4 ]");
piv5tid Text_New(dateMinlist(Time 30SessionEndTime(01) + 100), piv5 - (textscale MinMove/PriceScale), "[ v-d5 ]");

// highest volume bar
if Average(Volumelength) > volph then begin
piv0    XAverage(Closelength);
Attached is the MultiCharts .pla.


Is there anyone who's coded this for Tradestation? I literally know next to nothing when coding an indicator, but I am a huge proponent of using volume points of control and would kill to have something that plots them on my charts. The code provided doesn't seem to plot anything, it's just blank when I use it.

Last edited by Rock Sexton; January 18th, 2013 at 08:01 PM.
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  #42 (permalink)
Elite Member
Futures Experience: Beginner
Platform: MultiCharts
Posts: 214 since Nov 2010
Thanks: 8 given, 19 received

DO someone inlud the 3 basic value of Volume Profile Analysis: VPOC, VHvol,VLvol, also for the past days?

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