Technical Studies Reference
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Volume-Down
This study calculates and displays the volume of the Down Bars in a chart.
Let \(O_t\), \(C_t\), and \(V_t\) be the Open Price, Close Price, and Volume, respectively, at Index \(t\). The Volume-Down at Index \(t\) is denoted as \(V^{(D)}_t\). The method of computation of Volume-Down depends on the setting of the Input Compare Close With.
If Compare Close With is set to PrevClose, then a Down Bar is a bar for which \(C_t < C_{t - 1}\). \(V^{(D)}_t\) is then computed as follows.
\(\displaystyle{V^{(D)}_t = \left\{ \begin{matrix} V_t & C_t < C_{t - 1} \\ 0 & C_t \geq C_{t - 1} \end{matrix}\right .}\)If Compare Close With is set to Open, then a Down Bar is a bar for which \(C_t < O_t\). \(V^{(D)}_t\) is then computed as follows.
\(\displaystyle{V^{(D)}_t = \left\{ \begin{matrix} V_t & C_t < O_t \\ 0 & C_t \geq O_t \end{matrix}\right .}\)Inputs
- Compare Close With: This Input sets the value for the Close of a bar to be compared with. If you want the Close compared to the Previous Bar's Close, enter 0. If you want it compared to the Current Bar's Open, enter 1.
Spreadsheet
The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.
Open it through File >> Open Spreadsheet.
*Last modified Monday, 03rd October, 2022.