Support Board
Date/Time: Fri, 07 Feb 2025 17:03:02 +0000
How to Highlight Price level when Bid or Ask Volume is greater than some % of Total volume
View Count: 65
| [2025-01-24 23:16:43] |
| User649065 - Posts: 2 |
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Hello, I have been using the 'Volume At Price Threshold Alert V2' study to highlight volume based on a threshold but this in not always helpful as the volume can vary on days. Is there a way to highlight bid or ask volume as a percentage of the total volume at a price level. Below is what is want- Highlight price level when =AND(Total Volume>500, Bid Volume >= 0.9* Total Volume). How can I achieve this? Thanks, -Amit |
| [2025-01-27 19:00:24] |
| John - SC Support - Posts: 37826 |
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The best way to do this would be to create a custom study. Refer to the following: ACSIL Programming Concepts: Accessing Volume at Price Data Per Bar https://www.sierrachart.com/index.php?page=doc/SierraChartStudyAndSystemProgrammers.php Using the built-in tools, the only way to do this would be to use an Alert option. Either a simple alert, or using the "Color Bar Based on Alert Condition". In either case, the alert would have to look like the following: =OR(AND(VAP(L, 0) > 500, BVAP(L, 0) >= 0.9 * VAP(L, 0)), AND(VAP(L + TICKSIZE, 0) > 500, BVAP(L + TICKSIZE, 0) >= 0.9 * VAP(L, 0)), AND(VAP(L + 2 * TICKSIZE, 0) > 500, BVAP(L + 2 * TICKSIZE, 0) >= 0.9 * VAP(L + 2 * TICKSIZE, 0))) There VAP is the Volume at Price, L is the Low of the bar, BVAP is the Bid Volume at Price, TICKSIZE is the tick size of the chart. So the above checks the first three lowest levels of a bar to see if the total volume at that level is greater than 500 and then if the Bid Volume at that price is greater than or equal to 90% of total volume. We leave it to you to extend this to all the levels that you would see for the bars you are using. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-01-27 19:51:09] |
| User649065 - Posts: 2 |
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Thank you John, this is very helpful and a good starting point. I will expand on this. Thanks again!
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