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Searching for entries matching redk, looking in keywords for any words
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K_betterVolume_V1 for ThinkOrSwim

This is my modified version of the default VolumeAvg study in ThinkOrSwim.

the way my simple mind interprets volume move, i expect to see the volume bar Red for "down-days" (closing below the Open) and Green for "up-days" (Closing higher than Open).

Default logic in ToS's VolumeAvg study is different where volume bar color is based on trend, so compares today's close to yesterday's - or prior period's - close. Green of closes higher, red if closes below.
this quick customization enables me to switch between the 2 logics (Day vs Trend), default is "Day", so the Volume bar is colored based on period's open/close. (see a comparison in screenshot). you can use with any period or aggregation.
A double moving average has been added as an extra. i can see short-term (7 day EMA by default) volume vs long-term EMA(200 by default). for a better clue on sudden shifts in volume.
you can change settings for the study (Fast Period, Slow, and Volume Bias logic).

hope other fellow traders will find this as useful as i do,
RedK

Category The Elite Circle

Details: K_betterVolume_V1 for ThinkOrSwim
Category: The Elite Circle

July 23rd, 2012
Size: 915 bytes
Downloaded: 160 times

Keywords: redk thinkorswim tos volume

KR_DMI_V4b for ToS

a small visual enhancement from KR_DMI_V4:

since we practically care about the Net DI (difference between DI+ and DI-), which shows what price pressure is prevailing (buying vs selling) and causing the move, i removed the original lines, and replaced with a zero-base cloud that represents that Net Difference.
removed smoothing in calc from DI lines and Net difference. allowing it to act as a "relatively" leading indy for price move.
it's now easier to spot divergence between that net DI difference "cloud", and Price Action or ADX movement, suggesting current trend move maybe about to end or ease down. see attached screenshot.
ADX line is still the same.
Default "trend" level changed to 25.

thanks, RedK

Category The Elite Circle

Details: KR_DMI_V4b for ToS
Category: The Elite Circle

July 21st, 2012
Size: 2.22 KB
Downloaded: 524 times

Keywords: adx dmi redk thinkorswim tos

KR_DMI_v4 for ToS

This is my own implementation of ADX/DMI indicator for ToS.. still keeps the original approach

ADX line is allowed to go negative when the trend is down
we use ExpAverage for calc of DI+/DI- and HullAvg for smoothing
some visibility enhancement adding color coding to ADX (up, down & Alert)
improve visibility of Net pressure of price movement (using Addcloud)

Usage is similar to the original ADX: a trend starts above/blow 20 or 30levels (adjustable)

A sell/buy is suggested when the DI lines cross *AND* the ADX line is Cyan or Red

feedback & comments appreciated...
RedK @ Live.com ..... July 2012

Category The Elite Circle

Details: KR_DMI_v4 for ToS
Category: The Elite Circle

July 20th, 2012
Size: 2.11 KB
Downloaded: 233 times

Keywords: adx dmi redk thinkorswim tos

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