Volume Pivots

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Volume Pivots

Postby Apprentice » Tue Nov 23, 2010 2:06 pm

new.png

The indicator will 'look back' a user defined number of bars,
to find the user defined number of highest turnover (volume).
After this calculation, the software then draws horizontal S/R lines at these price levels.
Climax High Volume Option
If volume[period-2] <= volume[period-1]
and volume[period-1] >= volume[period]

Volume Pivots.lua
(9.32 KiB) Downloaded 346 times

You can define up to five style zones.
If u use only five Lines, 1. & 5. Zone Lines will be overwritten by Min. Max Lines.
Buy Sell Volume Pivots.lua
(13.3 KiB) Downloaded 360 times

With Buy Sell Volume Pivots u will have separate indications for Buy and Sell volume.
Buy Volume for advancing price.
Sell Volume for declining price.
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Re: Volume Pivots

Postby patick » Tue Nov 23, 2010 8:28 pm

Nice. I use vol climax now and find it extremely helpful. Thanks.

One suggestion, if possible, to add a MTF functionality. As an example, plot the m5 vol climax on a m1 chart.
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Re: Volume Pivots

Postby Apprentice » Wed Nov 24, 2010 2:49 am

Good suggestion.
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Re: Volume Pivots

Postby Apprentice » Fri Nov 26, 2010 6:06 am

Update.

Vertical lines added to help you, Finding High Volume Bars.
Solid Line, shows the highest volume in the given time frame.
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Re: Volume Pivots

Postby patick » Wed Dec 15, 2010 1:33 pm

Apprentice,

When/if you get around to updating this indy, may I please make another request?

If you look at volume profiles you can notice a distinct pattern that is closely associated with each market session (Europe / US / Asian), therefore it is much more productive, and profitable, to limit analysis accordingly. So, if you had an option to draw volume pivots per session instead of amount of bars, it would be a great benefit.

Additionally, I notice there's a "fractal" component in the calculation, so the climax volume line will always be delayed by 2 bars. I'm not sure what the purpose of the delay is. If you have time, could you please be elaborate?

Thank you very much.
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Re: Volume Pivots

Postby Apprentice » Wed Dec 15, 2010 4:06 pm

Good idea, but I think that this problem is better solved by a new indicator.

The delay is the result of the definition of fractals.
Simply can not be identified earlier.
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Re: Volume Pivots

Postby Apprentice » Thu Dec 08, 2011 8:36 am

volume.png


For Patick. Yours, MTF request is now obsolete,
as the MTFe functionality is now supported from TS.
through choice of time frame for indicator data source.
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Re: Volume Pivots

Postby nsaale » Tue Feb 05, 2013 7:20 am

How exactly do you use this indicator?
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Re: Volume Pivots

Postby Apprentice » Tue Feb 05, 2013 1:08 pm

This indicator indicates the past Levels, Zones with increased Volume.
Future areas of resistance / support can be expected at the same levels.
Trading ideas would be, open/close trade on break through or rejection away from these lines.
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Re: Volume Pivots

Postby Blackcat2 » Wed Feb 06, 2013 7:37 am

Could you please add the option to change line style and width?

Thanks :)

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