LazyBear

Colored Volume Bars [LazyBear]

Edgar Kraut proposed this simple colored volume bars strategy for swing trading.

This is how the colors are determined:
- If today’s closing price and volume are greater than 'n' days ago, color today’s volume bar green.
- If today’s closing price is greater than 'n' days ago but volume is not, color today’s volume bar blue.
- Similarly, if today’s closing price and volume is less than 'n' days ago, color today’s volume bar orange.
- If today’s closing price is less than 'n' days ago but volume is not, color today’s volume bar red.

Buy the green or blue volume bars, use a 1% trailing stop, and stand aside on red or orange bars.

As you see, this is more for entry confirmation. I have not tested this on any instrument.

You may have to tune the lookback period for your instrument. Default is 10.

More info:
"A color-based system for short-term trading" - http://www.traders.com/Documentation/FEE...

List of all my indicators:
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?
//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("Colored Volume Bars [LazyBear]", shorttitle="CVOLB_LB")
lookback=input(10)
showMA=input(false)
lengthMA=input(20)
p2=close
v2=volume
p1=p2[lookback] 
v1=v2[lookback] 
c=	iff(p2>p1 and v2>v1, green, 
	iff(p2>p1 and v2<v1, blue,
	iff(p2<p1 and v2<v1, orange,
	iff(p2<p1 and v2>v1, red, gray))))
plot(v2, style=columns, color=c)
plot(showMA?sma(v2, lengthMA):na, color=maroon)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Bình luận

what do you mean by loopback? sorry I am new to this
+38 Phản hồi
numb3rs311 CryptoGreedy
@CryptoGreedy, look back... how far you look back to compare aka "n"
Phản hồi
I need this indicator on mt4 forma i really like it please help me !!
+20 Phản hồi
How about Colored Candles with Colored Bars?
+15 Phản hồi
LazyBear QuantitativeExhaustion
Add the following 2 lines to the end of the script.

ebc=input(true, title="Enable bar colors")
barcolor(ebc?c:na)
+27 Phản hồi
@LazyBear, I need this indicator on mt4 forma i really like it please help me !!
+10 Phản hồi
Interesting script and made a small adjustments in your script. 1) option to input a different lookback period for price and volume. 2) added an option to turn the lookback period for volume into a moving average period for volume.
+4 Phản hồi
MarxBabu Dutchinvestor
@Dutchinvestor, @Dutchinvestor, can you share the screen shot and if any improvements here.
+2 Phản hồi
@MarxBabu, I can show a screenshot but I am not changing LazyBear's scripts because I respect his work very much. I will show you my input screen for the modifications I have made for myself. All credits goes to LazyBear for creating many great scripts that taught me a lot about the pine script language. https://imgur.com/a/r72nc5Y
Phản hồi
MarxBabu Dutchinvestor
@Dutchinvestor, thank you i checked it
+2 Phản hồi