Volume by Price
Author: wycan
Creation Date: 4/21/2009 7:55 AM
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wycan

#1
Is there a Volume by Price indicator available anywhere for WL 5.3? This is where volume is summed by price levels and plotted as a histogram on the price chart as horizontal bars.

If not, I believe I can calculate the levels but not sure how to plot them on the price chart.

Seems like this would make a nice addition to the community indicators.

Thx
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Eugene

#2
Do you mean something like this WealthScript Code Library Item Price Volume Distribution? If yes, you could try WSTL on it.
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Eugene

#3
P.S. Sorry, such type of drawing tool is a no-go for Community.Indicators (or any other indicator library): the interface doesn't support it.
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wycan

#4
QUOTE:


Do you mean something like this WealthScript Code Library Item Price Volume Distribution? If yes, you could try WSTL on it.


That looks like it, although it's for WL 4.

What is "WSTL" ?

thx
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Cone

#5
Eugene, how about for the Community.Components?

WSTL - WealthScript TransLation tool. There's a special forum for it.
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Eugene

#6
Thank you Robert, it will be added to the upcoming build.
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WEALTHPRO25

#7
can you please make the bars in volume by price charts different colors representing supply and demand, as seen in this link
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:volume_by_price, thanks
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Eugene

#8
While not indicators, something for you to play with:

Price Volume Distribution
Price/Volume Heat Map
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WEALTHPRO25

#9
i get the price volume distribution but how to show supply and demand within the the horizontal bar going accross, as there is only one color of the bar going accross thus cannot differentiate how much supply or demand within the bar, thanks
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Eugene

#10
Yes, it is what it is. What you ask for is a rather complex task which would be applicable to charting. Sorry, we can't dedicate our limited manpower to eye candy solutions like this. However, the library's source code is open to anybody who might be willing to implement these or other enhancements.