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HarleyBD
 Posted : Thursday, March 21, 2019 5:49:31 PM
Registered User
Joined: 6/30/2014
Posts: 60

Hi Bruce,

I am trying to come up with a smarter volume bar, which could show the colors red and green as a percent of the total bar.  By making the total volume bar green, I can then overlay the red percentage of bearish volume and have my smarter volume.

Question: which is the better indicator of bearish volume activity:

1.   trial A
V * IIF(GREATEST(H, C1) <> LEAST(L, C1), IIF(C=LEAST(L,C1),1,
(GREATEST(H, C1)   -  C) / (GREATEST(H, C1)  -  LEAST(L, C1))),0.5)

2. trial B.
V * (0.5 - ((C - C1)/(2*(GREATEST(H, C1) - LEAST(L, C1)))))

Best regards

Bruce_L
 Posted : Friday, March 22, 2019 10:14:48 AM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I really can't give any sort of advice as to what might be best. We can shorten the formulas a bit to make it a bit more obvious to others reading through the topic later what the formulas do however.

1. Trial A - Color the volume bar based on where the close is relative to the true range.

`V * IIF(ATR1 > 0, (GREATEST(H, C1) - C) / ATR1, .5)`

2. Trial B - Adjust the color transition of the volume bar based on the net change as percentage of the true range (divided by two since we are adjusting from the center and not the bottom or top).

`V * (.5 - (C - C1) / 2 / ATR1)`

I had thought about suggesting the percentage of the current bar which is above or below the close of the previous bar, but this results in a solid green bar on an unfilled gap up and a solid red bar on an unfilled gap down. This seems a bit less nuanced than either of your initial ideas.

-Bruce
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HarleyBD
 Posted : Friday, March 22, 2019 1:02:19 PM
Registered User
Joined: 6/30/2014
Posts: 60

As always Bruce, thanks for all that you do and write.

Best regards

Bruce_L
 Posted : Friday, March 22, 2019 1:04:13 PM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.

-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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