Volume Bars

// * VOLUME PRESSURE -COMPOSITE- WEIGHTED MOVING AVERAGE
// Ver. 1.0.beta.10.08.2015
// By Ricardo M Arjona @XeL_Arjona
//
// DISCLAIMER:
//
// The Following indicator/code IS NOT intended to be
// a formal investment advice or recommendation by the
// author, nor should be construed as such. Users
// will be fully responsible by their use regarding
// their own trading vehicles/assets.
//
// The embedded code and ideas within this work are
// FREELY AND PUBLICLY available on the Web
// for NON LUCRATIVE ACTIVITIES and must remain as is.
//
// Pine Script code MOD's and adaptations by @XeL_Arjona
// with special mention in regard of:
// + Buy (Bull) and Sell (Bear) "Power Balance Algorithm" by:
// Stocks & Commodities V. 21:10 (68-72):
// "Bull And Bear Balance Indicator by Vadim Gimelfarb"
// + Normalisation (Filter) from Karthik Marar's VSA work:
// http://karthikmarar.blogspot.mx
// + Adjusted Exponential Adaptation from original Volume
// Weighted Moving Average (VEMA) by @XeL_Arjona with
// commited help at the @pinescript chat room help
// with special mention to @RicardoSantos
// + Color Cloud Fill Condition algorithm by @ChrisMoody
//
// WHAT IS THIS?
//
// The following indicators try to acknowledge in a K-I-S-S
// approach to the eye (Keep-It-Simple-Stupid), the two most
// important aspects of nearly every trading vehicle:
// -- PRICE ACTION IN RELATION BY IT'S VOLUME --
//
// A) My approach is to make this indicator both as a "Trend Follower"
// as well as a Volatility expressed in the Bands which are the weighting
// basis of the trend given their "Cross Signal" given by
// the Buy & Sell Volume Pressures algorithm.
// << THEIR USE MUST BE CONSIDERED AS EXPERIMENTAL !! >>
//
// B) Please experiment with lookback periods against different
// timeframes. Given the nature of the Volume Mathematical Monster
// this kind of stydie is and in concordance with Price Action;
// at first glance I've noted that both in short as in long term
// periods, the indicator tends to adapt quite well to general
// price action conditions. BE ADVICED THIS IS EXPERIMENTAL!
//
// C) ALL NEW IDEAS OR MODIFICATIONS to these indicator(s) are
// Welcome in favor to deploy a better and more accurate readings.
// I will be very glad to be notified at Twitter or TradingVew
// accounts at: @XeL_Arjona
//
// Any important adition to this work MUST REMAIN
// PUBLIC by means of CreativeCommons CC & TradingView.
// 2015
//
//////////////////////////////////////////////////////////////////
study("VOLUME PRESSURE -COMPOSITE- WEIGHTED MOVING AVERAGE by @XeL_Arjona",

shorttitle="Volume based pricing", overlay=true)
p = input(title="Lookback Periods:", defval=3)

bands = input(false, title="Show Pressure Bands:")
colb = input(true, title="Color Trend on price bars:")
// MAIN GENERAL VARIABLES/FUNCTIONS
vol = iff(volume>0 ,volume, 1)
vema(array,periods,K) =>
VolW = vol*array
VolK = K/(periods+1)
VMsma = sum((VolW),periods)/sum(vol,periods)
VMema = na(VMema[1]) ? (VMsma*VolK) : ((VolW-VMema[1])*VolK)+VMema[1]
// Close Conditions for Pressure Algorithms
cl = close
op = open
hi = high
lo = low
// Bull And Bear "Power-Balance" by Vadim Gimelfarb Algorithm's
BP = iff(cl<op, iff(cl[1]<op, max(hi-cl[1], cl-lo),
max(hi-op, cl-lo)),
iff(cl>op, iff(cl[1]>op, hi-lo,
max(op-cl[1], hi-lo)),
iff(hi-cl>cl-lo, iff(cl[1]<op, max(hi-cl[1],cl-lo),
hi-op),
iff(hi-cl<cl-lo, iff(cl[1]>op, hi-lo,
max(op-cl[1], hi-lo)),
iff(cl[1]>op, max(hi-op, cl-lo),
iff(cl[1]<op, max(op-cl[1], hi-lo),
hi-lo))))))
SP = iff(cl<op, iff(cl[1]>op, max(cl[1]-op, hi-lo),
hi-lo),
iff(cl>op, iff(cl[1]>op, max(cl[1]-lo, hi-cl),
max(op-lo, hi-cl)),
iff(hi-cl>cl-lo, iff(cl[1]>op, max(cl[1]-op, hi-lo),

hi-lo),
iff(hi-cl<cl-lo, iff(cl[1]>op, max(cl[1]-lo, hi-cl),
op-lo),
iff(cl[1]>op, max(cl[1]-op, hi-lo),
iff(cl[1]<op, max(op-lo, hi-cl),
hi-lo))))))
TP = BP+SP
// GENERAL CALCULATION VARIABLES FOR STUDIES
BPV = (BP/TP)*vol
SPV = (SP/TP)*vol
TPV = BPV+SPV
TH = max(high, close[1])
TL = min(low, close[1])
BPP = (TL+close)/2
SPP = (TH+close)/2
// Volume Pressures Weighted Averages
bpMavg = vema((BPV*BPP),p,3) / vema(TPV,p,3)*2
spMavg = vema((SPV*SPP),p,3) / vema(TPV,p,3)*2
VPMavg = (bpMavg+spMavg)/2
VPMAc = bpMavg > VPMavg ? green : red
// PLOT DIRECTIVES
//Cloud coloring method by @ChrisMoody
BPAbove = bpMavg >= spMavg ? 1 : na
SPBelow = bpMavg <= spMavg ? 1 : na
BPplotU = BPAbove ? bpMavg : na
SPplotU = BPAbove ? spMavg : na
BPplotD = SPBelow ? bpMavg : na
SPplotD = SPBelow ? spMavg : na
// Standard Line Coloring
CondCol = bpMavg > spMavg ? green : red
//Center Avg Line

plot(bands?na:VPMavg, color=CondCol, title='VPMA', style=line, linewidth=2)
//Cloud Lines Plot Statements - ***linebr to create rules for change in Shading
p1 = plot(bands and BPplotU ? BPplotU : na, title = 'BP/SP', style=linebr, linewidth=1, color=CondCol)
p2 = plot(bands and SPplotU ? SPplotU : na, title = 'SP/BP', style=linebr, linewidth=1, color=CondCol)
p3 = plot(bands and BPplotD ? BPplotD : na, title = 'BP/SP', style=linebr, linewidth=1, color=CondCol)
p4 = plot(bands and SPplotD ? SPplotD : na, title = 'SP/BP', style=linebr, linewidth=1, color=CondCol)
//Fills that color cloud based on Trend.
fill(p1, p2, color=green, transp=90, title='Cloud')
fill(p3, p4, color=red, transp=90, title='Cloud')
plot(bands and bpMavg ? bpMavg : na, title = 'BPavg', style=line, linewidth=1, color=green)
plot(bands and spMavg ? spMavg : na, title = 'SPavg', style=line, linewidth=1, color=red)
barcolor(colb?CondCol:na)

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// * VOLUME PRESSURE -COMPOSITE- WEIGHTED MOVING AVERAGE

// By Ricardo M Arjona @XeL_Arjona

// The Following indicator/code IS NOT intended to be

// a formal investment advice or recommendation by the

// author, nor should be construed as such. Users

// will be fully responsible by their use regarding

// their own trading vehicles/assets.

// The embedded code and ideas within this work are

// FREELY AND PUBLICLY available on the Web

// for NON LUCRATIVE ACTIVITIES and must remain as is.

// Pine Script code MOD's and adaptations by @XeL_Arjona

// with special mention in regard of:

// + Buy (Bull) and Sell (Bear) "Power Balance Algorithm" by:

// Stocks & Commodities V. 21:10 (68-72):

// "Bull And Bear Balance Indicator by Vadim Gimelfarb"

// + Normalisation (Filter) from Karthik Marar's VSA work:

// + Adjusted Exponential Adaptation from original Volume

// Weighted Moving Average (VEMA) by @XeL_Arjona with

// commited help at the @pinescript chat room help

// with special mention to @RicardoSantos

// + Color Cloud Fill Condition algorithm by @ChrisMoody

// approach to the eye (Keep-It-Simple-Stupid), the two most

// important aspects of nearly every trading vehicle:

// -- PRICE ACTION IN RELATION BY IT'S VOLUME --

// A) My approach is to make this indicator both as a "Trend Follower"

// as well as a Volatility expressed in the Bands which are the weighting

// basis of the trend given their "Cross Signal" given by

// the Buy & Sell Volume Pressures algorithm.

// << THEIR USE MUST BE CONSIDERED AS EXPERIMENTAL !! >>

// B) Please experiment with lookback periods against different

// timeframes. Given the nature of the Volume Mathematical Monster

// this kind of stydie is and in concordance with Price Action;

// at first glance I've noted that both in short as in long term

// periods, the indicator tends to adapt quite well to general

// price action conditions. BE ADVICED THIS IS EXPERIMENTAL!

// C) ALL NEW IDEAS OR MODIFICATIONS to these indicator(s) are

// Welcome in favor to deploy a better and more accurate readings.

// I will be very glad to be notified at Twitter or TradingVew

// accounts at: @XeL_Arjona

// Any important adition to this work MUST REMAIN

// PUBLIC by means of CreativeCommons CC & TradingView.

study("VOLUME PRESSURE -COMPOSITE- WEIGHTED MOVING AVERAGE by @XeL_Arjona",

p = input(title="Lookback Periods:", defval=3)

colb = input(true, title="Color Trend on price bars:")

// MAIN GENERAL VARIABLES/FUNCTIONS

vol = iff(volume>0 ,volume, 1)

VMema = na(VMema[1]) ? (VMsma*VolK) : ((VolW-VMema[1])*VolK)+VMema[1]

// Close Conditions for Pressure Algorithms

// Bull And Bear "Power-Balance" by Vadim Gimelfarb Algorithm's

BP = iff(cl<op, iff(cl[1]<op, max(hi-cl[1], cl-lo),

iff(cl>op, iff(cl[1]>op, hi-lo,

iff(hi-cl>cl-lo, iff(cl[1]<op, max(hi-cl[1],cl-lo),

iff(hi-cl<cl-lo, iff(cl[1]>op, hi-lo,

iff(cl[1]>op, max(hi-op, cl-lo),

iff(cl[1]<op, max(op-cl[1], hi-lo),

SP = iff(cl<op, iff(cl[1]>op, max(cl[1]-op, hi-lo),

iff(cl>op, iff(cl[1]>op, max(cl[1]-lo, hi-cl),

iff(hi-cl>cl-lo, iff(cl[1]>op, max(cl[1]-op, hi-lo),

iff(hi-cl<cl-lo, iff(cl[1]>op, max(cl[1]-lo, hi-cl),

VMema = na(VMema[1]) ? (VMsmaVolK) : ((VolW-VMema[1])VolK)+VMema[1]

bpMavg = vema((BPVBPP),p,3) / vema(TPV,p,3)2

spMavg = vema((SPVSPP),p,3) / vema(TPV,p,3)2