2003 Jul: RelativeVolume.efs

[eSignal_JasonK]

File Name: RelativeVolume.efs

Description:
This formula is based on Relative Volume Analysis by Thom Hartle, which appeared in the July 2003 issue of Active Trader Magazine.

Formula Parameters:
Symbol: NYSE [NASDAQ, NYSE]


Notes:
The related article is copyrighted material. If you are not a subscriber of Active Trader Magazine, please visit www. activetradermag.com.

Updated Version 1.1 7/13/2004
vRelVol was corrected to be the maximum of vUpVol/vTotVol or vDnVol/vTotVol per instructions from Thom Hartle.

Download File:
RelativeVolume.efs



EFS Code:

/*****************************************************************
Provided By : eSignal. (c) Copyright 2004
Study:        Relative Volume Analysis
Version:      1.1

1/20/2004

Notes:
  Formula based on "Relative Volume Analysis" by Thom Hartle, 
  which appeared in the July 2003 issue of Active Trader Magazine.

1.1 Correction:
  vRelVol was corrected to be the maximum of vUpVol/vTotVol or 
  vDnVol/vTotVol.
 
*****************************************************************/


function preMain() {
    setStudyTitle("Relative Volume ");
    setCursorLabelName("Relative Volume");
    setPlotType(PLOTTYPE_HISTOGRAM);
    setDefaultBarFgColor(Color.green);
    setDefaultBarThickness(4);
    setStudyMin(0);
    setStudyMax(100);
    
    var fp1 = new FunctionParameter("Symbol", FunctionParameter.STRING);
    fp1.setName("Index");
    fp1.addOption("NASDAQ");
    fp1.addOption("NYSE");
    fp1.setDefault("NYSE");
    
}


function main(Symbol) {
    var vRelVol = null;
    var vUpVol = null;
    var vDnVol = null;
    var vUnVol = null;
    var vTotVol = null;
    var vSuffix = null;
    var o = open();
    var c = close();
    
    if (Symbol == "NASDAQ") {
        vSuffix = "Q";
    } else if (Symbol == "NYSE") {
        vSuffix = "";
    } else {
        return;
    }
    
    vUpVol = close("$UVOL"+vSuffix);
    vDnVol = close("$DVOL"+vSuffix);
    if (vUpVol == null || vDnVol == null) return;
    
    vTotVol = vUpVol + vDnVol;

    if ( (vDnVol/vTotVol) > (vUpVol/vTotVol) ) {
        setBarFgColor(Color.red);
    } else if ( (vDnVol/vTotVol) < (vUpVol/vTotVol)) {
        setBarFgColor(Color.green);
    } else {
        setBarFgColor(Color.grey);
    }

    vRelVol = Math.max((vDnVol/vTotVol)*100, (vUpVol/vTotVol)*100);

    return vRelVol;
}