Intraday trading Support and resistance and trend

Paul

Just remembered an old indicator in my archives I once converted to Bullcharts from Tradersonline which may also help you avoid analyzing the Course of Trades report.

It is called Price by Volume 25 and was originally written by Roy Larsen in Metastock Code. I obtained it from Tradersonline.tk and converted it to Bullcharts.

It effectively puts the prices achieved into volume buckets ( in this case 25 Buckets) you can play with code to make as many buckets as your want but 25 appears reasonable. So it shows you how much volume traded at various prices over the course of the sample. Also you have to vary the parameters for the number of bars you want included in the sample and also scale the bars so they appear on the screen in a reasonable size histogram.

Below is BHp again with intraday sample.

Paul


The indicator does not stop you adding any of the Bullchart colored bar criteria to the bars. Right click on a price bar and go to the color tab that then appears, and choose a Bullchart color bar option.

Alternatively you can color your own criteria for bars using Bullscript.

Here is a variation code to play around with. I will post Picture then code.

I made a 50 Volume by price indicator with buckets and colored the Histogram bars according to whether it was buying or selling volume according to Larry Williams Criteria for buying or selling volume (refer Smart Money and Herd separate post for explanation of that crieria).

As both SM and Herd Buying and selling can go on within same day or across various days, two histogram colors (and one wider then the other is needed to show what buying and selling is going on within each bucket).

Charles

{C2006 Roy Larsen, www.metastocktips.com}

[Target=Price;]

Value1 := Volume;
Value1a := (((H-C)/(H-L))*Volume); {Selling Vol}
Value2 := (((C-L)/(H-L))*Volume); {Buying Vol}
Value3 := If((Value2-Value1a) >0,(Value2-Value1a),undefined); {Net of buying and Selling Vol needs to be +'ve to plot on Histogram}
Value4 := If((Value1a-Value2) >0,(Value1a-Value2),undefined); {Net of buying and Selling Vol needs to be +'ve to plot on Histogram}

d:=input("Bars to Include", 100, 1, 9999);
n:=input("Scaling Factor", 4, 1, 999);
k:=input("Plot Frame?", 1, 0, 1);
y:=Cum(1);
f:=LastValue(y);
z:=f-1=y;
d1:=LastValue(If(d>=f,f-1,d));
a:=(f-d<y)*(y>1);
g:=a*V;
g1:=a*Value3;
g2:=a*Value4;


{Query Below if I have the scaleing factors right using g but not also ga ????}
b:=LastValue(Cum(g));
q:=LastValue(HighestSince(1,a=0,C));
r:=LastValue(LowestSince(1,a=0,C));
i:=(q-r)/50;
u:=r+i*.5;
m:=n*d/b;










[name=Net Buying; color=Cyan; width=9;]
x1:=LastValue(Cum((C<(r+i))*g1));
ValueWhen(1,f-x1*m<y,u);
x2:=LastValue(Cum((C>=(r+i))*(C<(r+i*2))*g1));
ValueWhen(1,f- x2*m<y,u+i);
x3:=LastValue(Cum((C>=(r+i*2))*(C<(r+i*3))*g1));
ValueWhen(1,f- x3*m<y,u+i*2);
x4:=LastValue(Cum((C>=(r+i*3))*(C<(r+i*4))*g1));
ValueWhen(1,f- x4*m<y,u+i*3);

x5:=LastValue(Cum((C>=(r+i*4))*(C<(r+i*5))*g1));
ValueWhen(1,f- x5*m<y,u+i*4);
x6:=LastValue(Cum((C>=(r+i*5))*(C<(r+i*6))*g1));
ValueWhen(1,f- x6*m<y,u+i*5);
x7:=LastValue(Cum((C>=(r+i*6))*(C<(r+i*7))*g1));
ValueWhen(1,f- x7*m<y,u+i*6);
x8:=LastValue(Cum((C>=(r+i*7))*(C<(r+i*8))*g1));
ValueWhen(1,f- x8*m<y,u+i*7);

x9:=LastValue(Cum((C>=(r+i*8))*(C<(r+i*9))*g1));
ValueWhen(1,f- x9*m<y,u+i*8);
x10:=LastValue(Cum((C>=(r+i*9))*(C<(r+i*10))*g1));
ValueWhen(1,f- x10*m<y,u+i*9);
x11:=LastValue(Cum((C>=(r+i*10))*(C<(r+i*11))*g1));
ValueWhen(1,f- x11*m<y,u+i*10);
x12:=LastValue(Cum((C>=(r+i*11))*(C<(r+i*12))*g1));
ValueWhen(1,f- x12*m<y,u+i*11);

x13:=LastValue(Cum((C>=(r+i*12))*(C<(r+i*13))*g1));
ValueWhen(1,f- x13*m<y,u+i*12);
x14:=LastValue(Cum((C>=(r+i*13))*(C<(r+i*14))*g1));
ValueWhen(1,f- x14*m<y,u+i*13);
x15:=LastValue(Cum((C>=(r+i*14))*(C<(r+i*15))*g1));
ValueWhen(1,f- x15*m<y,u+i*14);
x16:=LastValue(Cum((C>=(r+i*15))*(C<(r+i*16))*g1));
ValueWhen(1,f- x16*m<y,u+i*15);


x17:=LastValue(Cum((C>=(r+i*16))*(C<(r+i*17))*g1));
ValueWhen(1,f- x17*m<y,u+i*16);
x18:=LastValue(Cum((C>=(r+i*17))*(C<(r+i*18))*g1));
ValueWhen(1,f- x18*m<y,u+i*17);
x19:=LastValue(Cum((C>=(r+i*18))*(C<(r+i*19))*g1));
ValueWhen(1,f- x19*m<y,u+i*18);
x20:=LastValue(Cum((C>=(r+i*19))*(C<(r+i*20))*g1));
ValueWhen(1,f- x20*m<y,u+i*19);


x21:=LastValue(Cum((C>=(r+i*20))*(C<(r+i*21))*g1));
ValueWhen(1,f- x21*m<y,u+i*20);
x22:=LastValue(Cum((C>=(r+i*21))*(C<(r+i*22))*g1));
ValueWhen(1,f- x22*m<y,u+i*21);
x23:=LastValue(Cum((C>=(r+i*22))*(C<(r+i*23))*g1));
ValueWhen(1,f- x23*m<y,u+i*22);
x24:=LastValue(Cum((C>=(r+i*23))*(C<(r+i*24))*g1));
ValueWhen(1,f- x24*m<y,u+i*23);


x25:=LastValue(Cum((C>=(r+i*24))*(C<(r+i*25))*g1));
ValueWhen(1,f-Int(x25*m)=y,u+i*24);

x26:=LastValue(Cum((C>=(r+i*25))*(C<(r+i*26))*g1));
ValueWhen(1,f-Int(x26*m)=y,u+i*25);

x27:=LastValue(Cum((C>=(r+i*26))*(C<(r+i*27))*g1));
ValueWhen(1,f-Int(x27*m)=y,u+i*26);

x28:=LastValue(Cum((C>=(r+i*27))*(C<(r+i*28))*g1));
ValueWhen(1,f-Int(x25*m)=y,u+i*27);

x29:=LastValue(Cum((C>=(r+i*28))*(C<(r+i*29))*g1));
ValueWhen(1,f-Int(x29*m)=y,u+i*28);

x30:=LastValue(Cum((C>=(r+i*29))*(C<(r+i*30))*g1));
ValueWhen(1,f-Int(x30*m)=y,u+i*29);


x31:=LastValue(Cum((C>=(r+i*30))*(C<(r+i*31))*g1));
ValueWhen(1,f-Int(x31*m)=y,u+i*30);

x32:=LastValue(Cum((C>=(r+i*31))*(C<(r+i*32))*g1));
ValueWhen(1,f-Int(x32*m)=y,u+i*31);

x33:=LastValue(Cum((C>=(r+i*32))*(C<(r+i*33))*g1));
ValueWhen(1,f-Int(x33*m)=y,u+i*32);

x34:=LastValue(Cum((C>=(r+i*33))*(C<(r+i*34))*g1));
ValueWhen(1,f-Int(x34*m)=y,u+i*33);

x35:=LastValue(Cum((C>=(r+i*34))*(C<(r+i*35))*g1));
ValueWhen(1,f-Int(x35*m)=y,u+i*34);


x36:=LastValue(Cum((C>=(r+i*35))*(C<(r+i*36))*g1));
ValueWhen(1,f- x36*m<y,u+i*35);
x37:=LastValue(Cum((C>=(r+i*36))*(C<(r+i*37))*g1));
ValueWhen(1,f- x37*m<y,u+i*36);
x38:=LastValue(Cum((C>=(r+i*37))*(C<(r+i*38))*g1));
ValueWhen(1,f- x38*m<y,u+i*37);
x39:=LastValue(Cum((C>=(r+i*38))*(C<(r+i*39))*g1));
ValueWhen(1,f- x39*m<y,u+i*38);
x40:=LastValue(Cum((C>=(r+i*39))*(C<(r+i*40))*g1));
ValueWhen(1,f- x40*m<y,u+i*39);
x41:=LastValue(Cum((C>=(r+i*40))*(C<(r+i*41))*g1));
ValueWhen(1,f- x41*m<y,u+i*40);
x42:=LastValue(Cum((C>=(r+i*41))*(C<(r+i*42))*g1));
ValueWhen(1,f- x42*m<y,u+i*41);
x43:=LastValue(Cum((C>=(r+i*42))*(C<(r+i*43))*g1));
ValueWhen(1,f- x43*m<y,u+i*42);
x44:=LastValue(Cum((C>=(r+i*43))*(C<(r+i*44))*g1));
ValueWhen(1,f- x44*m<y,u+i*43);
x45:=LastValue(Cum((C>=(r+i*44))*(C<(r+i*45))*g1));
ValueWhen(1,f- x45*m<y,u+i*44);
x46:=LastValue(Cum((C>=(r+i*45))*(C<(r+i*46))*g1));
ValueWhen(1,f- x46*m<y,u+i*45);
x47:=LastValue(Cum((C>=(r+i*46))*(C<(r+i*47))*g1));
ValueWhen(1,f- x47*m<y,u+i*46);
x48:=LastValue(Cum((C>=(r+i*47))*(C<(r+i*48))*g1));
ValueWhen(1,f- x48*m<y,u+i*47);
x49:=LastValue(Cum((C>=(r+i*48))*(C<(r+i*49))*g1));
ValueWhen(1,f- x49*m<y,u+i*48);
x50:=LastValue(Cum((C>=(r+i*49))*(C<(r+i*50))*g1));
ValueWhen(1,f- x50*m<y,u+i*49);

{Note Two of the above lines needed for 1 line calc in Histograms}
[name=Boundary; color=Black; linestyle=Solid; width=2;]
x51:=(f-d=y)*k;
ValueWhen(1,x51,q);ValueWhen(1,Alert(x51,2),If(x51,q,r));
{c;}



{


x36:=(f-d=y)*k;
ValueWhen(1,x36,q);ValueWhen(1,Alert(x36,2),If(x36,q,r));}
{c;}
{end}

[name=Net Selling; Linestyle=Solid; color=Red; linestyle=Dash; width=3;]
x1a:=LastValue(Cum((C<(r+i))*g2));
ValueWhen(1,f-x1a*m<y,u);
x2a:=LastValue(Cum((C>=(r+i))*(C<(r+i*2))*g2));
ValueWhen(1,f- x2a*m<y,u+i);
x3a:=LastValue(Cum((C>=(r+i*2))*(C<(r+i*3))*g2));
ValueWhen(1,f- x3a*m<y,u+i*2);
x4a:=LastValue(Cum((C>=(r+i*3))*(C<(r+i*4))*g2));
ValueWhen(1,f- x4a*m<y,u+i*3);

x5a:=LastValue(Cum((C>=(r+i*4))*(C<(r+i*5))*g2));
ValueWhen(1,f- x5a*m<y,u+i*4);
x6a:=LastValue(Cum((C>=(r+i*5))*(C<(r+i*6))*g2));
ValueWhen(1,f- x6a*m<y,u+i*5);
x7a:=LastValue(Cum((C>=(r+i*6))*(C<(r+i*7))*g2));
ValueWhen(1,f- x7a*m<y,u+i*6);
x8a:=LastValue(Cum((C>=(r+i*7))*(C<(r+i*8))*g2));
ValueWhen(1,f- x8a*m<y,u+i*7);

x9a:=LastValue(Cum((C>=(r+i*8))*(C<(r+i*9))*g2));
ValueWhen(1,f- x9a*m<y,u+i*8);
x10a:=LastValue(Cum((C>=(r+i*9))*(C<(r+i*10))*g2));
ValueWhen(1,f- x10a*m<y,u+i*9);
x11a:=LastValue(Cum((C>=(r+i*10))*(C<(r+i*11))*g2));
ValueWhen(1,f- x11a*m<y,u+i*10);
x12a:=LastValue(Cum((C>=(r+i*11))*(C<(r+i*12))*g2));
ValueWhen(1,f- x12a*m<y,u+i*11);

x13a:=LastValue(Cum((C>=(r+i*12))*(C<(r+i*13))*g2));
ValueWhen(1,f- x13a*m<y,u+i*12);
x14a:=LastValue(Cum((C>=(r+i*13))*(C<(r+i*14))*g2));
ValueWhen(1,f- x14a*m<y,u+i*13);
x15a:=LastValue(Cum((C>=(r+i*14))*(C<(r+i*15))*g2));
ValueWhen(1,f- x15a*m<y,u+i*14);
x16a:=LastValue(Cum((C>=(r+i*15))*(C<(r+i*16))*g2));
ValueWhen(1,f- x16a*m<y,u+i*15);


x17a:=LastValue(Cum((C>=(r+i*16))*(C<(r+i*17))*g2));
ValueWhen(1,f- x17a*m<y,u+i*16);
x18a:=LastValue(Cum((C>=(r+i*17))*(C<(r+i*18))*g2));
ValueWhen(1,f- x18a*m<y,u+i*17);
x19a:=LastValue(Cum((C>=(r+i*18))*(C<(r+i*19))*g2));
ValueWhen(1,f- x19a*m<y,u+i*18);
x20a:=LastValue(Cum((C>=(r+i*19))*(C<(r+i*20))*g2));
ValueWhen(1,f- x20a*m<y,u+i*19);


x21a:=LastValue(Cum((C>=(r+i*20))*(C<(r+i*21))*g2));
ValueWhen(1,f- x21a*m<y,u+i*20);
x22a:=LastValue(Cum((C>=(r+i*21))*(C<(r+i*22))*g2));
ValueWhen(1,f- x22a*m<y,u+i*21);
x23a:=LastValue(Cum((C>=(r+i*22))*(C<(r+i*23))*g2));
ValueWhen(1,f- x23a*m<y,u+i*22);
x24a:=LastValue(Cum((C>=(r+i*23))*(C<(r+i*24))*g2));
ValueWhen(1,f- x24a*m<y,u+i*23);


x25a:=LastValue(Cum((C>=(r+i*24))*(C<(r+i*25))*g2));
ValueWhen(1,f-Int(x25a*m)=y,u+i*24);
x26a:=LastValue(Cum((C>=(r+i*25))*(C<(r+i*26))*g2));
ValueWhen(1,f- x26a*m<y,u+i*25);
x27a:=LastValue(Cum((C>=(r+i*26))*(C<(r+i*27))*g2));
ValueWhen(1,f- x27a*m<y,u+i*26);
x28a:=LastValue(Cum((C>=(r+i*27))*(C<(r+i*28))*g2));
ValueWhen(1,f- x28a*m<y,u+i*27);
x29a:=LastValue(Cum((C>=(r+i*28))*(C<(r+i*29))*g2));
ValueWhen(1,f- x29a*m<y,u+i*28);
x30a:=LastValue(Cum((C>=(r+i*29))*(C<(r+i*30))*g2));
ValueWhen(1,f- x30a*m<y,u+i*29);
x31a:=LastValue(Cum((C>=(r+i*30))*(C<(r+i*31))*g2));
ValueWhen(1,f- x31a*m<y,u+i*30);
x32a:=LastValue(Cum((C>=(r+i*31))*(C<(r+i*32))*g2));
ValueWhen(1,f- x32a*m<y,u+i*31);
x33a:=LastValue(Cum((C>=(r+i*32))*(C<(r+i*33))*g2));
ValueWhen(1,f- x33a*m<y,u+i*32);
x34a:=LastValue(Cum((C>=(r+i*33))*(C<(r+i*34))*g2));
ValueWhen(1,f- x34a*m<y,u+i*33);
x35a:=LastValue(Cum((C>=(r+i*34))*(C<(r+i*35))*g2));
ValueWhen(1,f- x35a*m<y,u+i*34);
x36a:=LastValue(Cum((C>=(r+i*35))*(C<(r+i*36))*g2));
ValueWhen(1,f- x36a*m<y,u+i*35);
x37a:=LastValue(Cum((C>=(r+i*36))*(C<(r+i*37))*g2));
ValueWhen(1,f- x37a*m<y,u+i*36);
x38a:=LastValue(Cum((C>=(r+i*37))*(C<(r+i*38))*g2));
ValueWhen(1,f- x38a*m<y,u+i*37);
x39a:=LastValue(Cum((C>=(r+i*38))*(C<(r+i*39))*g2));
ValueWhen(1,f- x39a*m<y,u+i*38);
x40a:=LastValue(Cum((C>=(r+i*39))*(C<(r+i*40))*g2));
ValueWhen(1,f- x40a*m<y,u+i*39);
x41a:=LastValue(Cum((C>=(r+i*40))*(C<(r+i*41))*g2));
ValueWhen(1,f- x41a*m<y,u+i*40);
x42a:=LastValue(Cum((C>=(r+i*41))*(C<(r+i*42))*g2));
ValueWhen(1,f- x42a*m<y,u+i*41);
x43a:=LastValue(Cum((C>=(r+i*42))*(C<(r+i*43))*g2));
ValueWhen(1,f- x43a*m<y,u+i*42);
x44a:=LastValue(Cum((C>=(r+i*43))*(C<(r+i*44))*g2));
ValueWhen(1,f- x44a*m<y,u+i*43);
x45a:=LastValue(Cum((C>=(r+i*44))*(C<(r+i*45))*g2));
ValueWhen(1,f- x45a*m<y,u+i*44);
x46a:=LastValue(Cum((C>=(r+i*45))*(C<(r+i*46))*g2));
ValueWhen(1,f- x46a*m<y,u+i*45);
x47a:=LastValue(Cum((C>=(r+i*46))*(C<(r+i*47))*g2));
ValueWhen(1,f- x47a*m<y,u+i*46);
x48a:=LastValue(Cum((C>=(r+i*47))*(C<(r+i*48))*g2));
ValueWhen(1,f- x48a*m<y,u+i*47);
x49a:=LastValue(Cum((C>=(r+i*48))*(C<(r+i*49))*g2));
ValueWhen(1,f- x49a*m<y,u+i*48);
x50a:=LastValue(Cum((C>=(r+i*49))*(C<(r+i*50))*g2));
ValueWhen(1,f- x50a*m<y,u+i*49);


{Note Two of the above lines needed for 1 line calc in Histograms}
[name=Boundary; Linestyle=Solid; Color Black; width =2;]
x51a:=(f-d=y)*k;

Paul

Bullscript is extremely similar but with a few more bells and whistles compared to Metastock indicator code.

Most Metastock indicators will usually port across and run in Bullscript without any or limited tweaking.

Roy Larsen was the originator of the Metastock Price by Volume indicator I originally copied and tweaked in Bullscript. So it is right to give him credit for his original idea and coding effort.

As Gann said everything is but a repetition of the past.

Charles