Volume indicator

[EagleEye]

Hello trader,
i need your help for making new indicator

VOLUME INDICATOR

CONDITIONS
1. if price is greater than yesterday price treat the volume is positive volume 2. if price is lesser than yesterday price treat the volume is negative volume. 3. if price is same as yesterday price treat the volume is neutral volume.

 

[mastermind007]

Hello trader,
i need your help for making new indicator

VOLUME INDICATOR

CONDITIONS
1. if price is greater than yesterday price treat the volume is positive volume 2. if price is lesser than yesterday price treat the volume is negative volume. 3. if price is same as yesterday price treat the volume is neutral volume.

What would neutral volume be? you cannot make volume 0. So, I treat equal as positive.

NewVolume = IIf(Close >= Ref(Close, -1), Volume, -Volume);

 

[mindgames]

Hello trader,
i need your help for making new indicator

VOLUME INDICATOR

CONDITIONS
1. if price is greater than yesterday price treat the volume is positive volume 2. if price is lesser than yesterday price treat the volume is negative volume. 3. if price is same as yesterday price treat the volume is neutral volume.

Doesn't on balance volume already do this?

 

[mohan.sic]

Doesn't on balance volume already do this?

Yes OBV is same.

With some modifications to that there are other indicators like:

Price volume trend, Trade volume index, Positive volume index, Accumulation/Distribution.

All above are built, based on volume and price movement.
And my exp - all are useless.

 

[Kumaran1979]

MACD, RSI, Money flow, OBV and ADX... I am using it... it is very helpful and give success to me....