Rank: Newbie
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Hi
Could anybody please help with the coding of the "Brightspark" Swing Volume indicator as explained on the http://technifilter.com website? As I don't know how to upload images to this forum esentially the indicator cumulates volume with predefined price swings - I have had an attempt at coding it but don't know how to initialise/reset volume for each swing.
Any assistance would be greatly appreciated.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/7/2005(UTC)
Posts: 602
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Looks like the indicator uses zig zag to find troughs and peaks. then accumulates volume
from each peak-trough, trough-peak combination, then compares the accum. Wabbit may be able to pull it off but I think MS is missing a function to do it easily. The
new function would be a From/Till function:
FromTill(From here, Till here, calculate this).
You could do things like compare (volume,beta,RS, etc) between (zags and zigs),
(indicator crossovers) (etc)
much like the Brightpoint indicator is doing. I would be interested in seeing how they converted their stuff into buy/sell signals.
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
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Location: Perth, Western Australia
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You can achieve this goal with a count-and-reset function. Code:count:=cum(V);
reset:= however you want to define a peak or a trough;
counter:=count - valuewhen(1,reset,count);
{plot}
counter;
There might be one catch though... depending on how much volume there is for the loaded chart, the use of Cum(V) might cause errors as MS has only does single precision maths. IF it becomes problematic, the fix is to use an If() with PREV to accumulate the value then reset to zero on the peak or trough. This is slower and uses more CPU but suffers less large-maths problems. Code:count:=V;
reset:= however you want to define a peak or a trough;
counter:=If(reset,0,PREV+count);
{plot}
counter;
Hope this helps. wabbit [:D]
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