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Volume Spectrum With Alert
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Created: by southerntower Attachments:1

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Volume Spectrum With Alert

  #1 (permalink)
Trading Apprentice
Charleston SC
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: Money
Posts: 1 since Apr 2012
Thanks: 0 given, 1 received

Volume Spectrum With Alert

I use volume for all of my trades.
I took the spectrum volume and added an alert.
I also change the colors to all green or red for price movements and volume.
plot Data = close;

declare lower;
declare zerobase;

input length = 50;

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
alert( Crosses( Vol, VolAvg, CrossingDirection.ABOVE), concat("Vol has exceeded the ", concat(length, " bar VolAvg")),Alert.ONCE,Sound.Ring);

input length2 = 10;
input paintBars = no;

def isGreen = close > close[length2] and volume > volume[length2];
def isBlue = close > close[length2] and volume < volume[length2];
def isOrange = close < close[length2] and volume < volume[length2];
def isRed = close < close[length2] and volume > volume[length2];

Vol.DefineColor("Green", Color.GREEN);
Vol.DefineColor("Blue", Color.BLUE);
Vol.DefineColor("Orange", Color.ORANGE);
Vol.DefineColor("Red", Color.RED);
Vol.AssignValueColor(if isGreen then Vol.color("Green") else if isBlue then Vol.color("Blue") else if isOrange then Vol.color("Orange") else if isRed then Vol.color("Red") else Color.LIGHT_GRAY);

DefineGlobalColor("Green", Color.GREEN);
DefineGlobalColor("Blue", Color.BLUE);
DefineGlobalColor("Orange", Color.ORANGE);
DefineGlobalColor("Red", Color.RED);
AssignPriceColor(if !paintBars then Color.CURRENT else if isGreen then globalColor("Green") else if isBlue then globalColor("Blue") else if isOrange then globalColor("Orange") else if isRed then globalColor("Red") else Color.LIGHT_GRAY);

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Volume Spectrum With Alert-2012-04-04-tos_charts.png  
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The following 2 users say Thank You to southerntower for this post:
  #2 (permalink)
Elite Member
Los Angeles,CA
Futures Experience: Beginner
Platform: thinkorswim
Favorite Futures: futures
Posts: 4 since May 2011
Thanks: 2 given, 3 received

Volume Spectrum

Hi...thank you for your script...Can you please give me an example on how you would use this volume study to your trading setup.

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