S&P Volume Indicator Problem

[betch23]

Could anyone tell me how to make an indicator utilizing a histogram that plots the sell volume down in red and buy volume up in blue? I know there is a volume() function, but how do you split out the buys and sells? Thanks in advance.

[eSignal_JasonK]

Hello betch23,

Take a look at BidAskAnalysis.efs from our EFS Library. This will give you a code example of how to accomplish this.

However, it will not work on $SPX because it is an index. In order to create this histogram on an index, we would need to look at the volume information (including the bid/ask quotes) for each trade on each component from the index. This would not be possible in EFS due to the 7 symbol limit. Hope this helps.

[betch23]

Volume

Jason,

I guess I am unclear about how the bid ask works, if it does not work off of the S&P. There is a volume() function that reflects blue bars for buys and red bars for sells. Is there someway that the volume function could be used?

Also, Jason, I have spent countless hours reading books and paying for courses. Do you know anyone that offers a legitamate S&P course that is expediant and clear?

Thanks in advance
Rob

[eSignal_JasonK]

Hello Rob,

We do not have volume data for $SPX, which is why the volume() function does not return volume figures in EFS.

As for an S&P course, I do not know of one. Perhaps someone else here in the community may have some information for you.