Price x Volume Chart

[Seshadri]

Hi,

Is it possible to plot in an advanced chart the average of price multiplied by average of volume as a price/non-price study for any symbol in any timeframe? Ideally if such a thing were possible, it would be great if one can plot other standard studies that are available. I don't know how to code this in EFS. Any help or suggestion would be much appreciated. Thanks in advance.

Sesh

[Gavishti]

Vol * Price Oscillator

Is this what you are looking for?

[Seshadri]

Gavishti,

I had almost forgotten about this and your post was a surprise indeed. Since I am not used to coding in EFS I don't have much of a clue as to what your code does excepting that I notice you are multiplying volume with change in price. However, what I had in mind was a study based on average volume (with the option of using an SMA, EMA or WMA) multiplied by average price of the Open, High, Low and Close (again with an option to use an SMA, EMA or WMA) for each plot of the study for each candle on the price chart. My idea was to combine the effect of the volume profile and price profile in a single study. I am not sure whether your efs does that. Thanks for taking a shot at it anyway. Since no one from eSignal or even experts like Alex had replied to my post I assumed that this was not possible. I would be extremely pleased if you can do it. Thanks a lot in advance.

Sesh

[Gavishti]

I have several projects I am working on. Maybe you can get someone else to modify the code for your purposes. The EFS that I provided multiplies the change in Closing price times a 3 bar exponential moving average. If you want to change the period of the moving average use the EFS editor (under Tools on the menu). Change all of the 3s to the length you want for the EMA.

The formula came from "The Encyclopedia of Technical Market Indicators - 2nd Edition" © 2003 by Robert Colby. He ran several variations against 72 years of data and found this particular setup to be the most effective. His computer said that it was 1,495,436.39% better than a buy-and-hold strategy.

I use it every day and find it to be helpful. It takes a while to understand it's behavior.

[Seshadri]

Thanks

Gavishti,

Thanks for the clarification. A couple of questions: How do I change the EMA of price to a Weighted MA? Secondly, like the price, how do I substitute the average (EMA or WMA) of the volume in the calculation? Using the average volume would probably smoothen the study than raw volume. Thanks in advance for the input.

Sesh

[michaelm]

The formula came from "The Encyclopedia of Technical Market Indicators - 2nd Edition" © 2003 by Robert Colby. He ran several variations against 72 years of data and found this particular setup to be the most effective.

Gavishti,

Could you give a brief explanation of his particular setup for price volume?

Thanks.

[Gavishti]

Seshadri,

To change the type of moving average would require quite a bit of programming. I am not an employee of eSignal and have several other things that I would rather progam. Perhaps you can find someone in one of the other threads that would be willing to help you out. If I had more time, perhaps I would do it. But my own list is way too long.

Good Luck.

[Gavishti]

Michaelm,

The setup is in the comments at the top of the code. You should also be able to get the book through your local library.

Crossing the zero line is the signal that Colby uses. Watch the bars. You will notice that certain patterns develop just before a trend change.

[michaelm]

Thanks, Gavishti.