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[Programming Help] - Oz MA Volume Multiplier Highlighter

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[2023-07-01 11:06:26] #1 [Go To First Post]
Oz - Posts: 48
Hi, I'm new to Sierra. I have a custom indicator on a different (Linnsoft) platform which I'd like to replicate in Sierra, however I'm not sure how to do this. I presume this can be done using some simple coding which I'm in the process of learning, however this task seems a little out of reach for me at this stage. Other users may also find this useful for identifying high and low volume bars. In short I call the study the OZMA Volume Multiplier Highlighter the study uses the MA (simple/close other MA's can be used) of the last 30 (variable) bars on volume (1m chart (time frame is variable based on chart)) to identify what the average volume is over the select period. I then used a variable multiplier(2) which is between 0.5-3.0 (depends on market conditions and what it is I'm wanting to see). To identify greater than normal volume the bar volume must be greater than MA value on volume x multiplier1. General setting would be (MA value x 1.5-3.0) Paint when volume is greater than To identify lower than normal volume the bar volume must be less than the MA value on volume x multiplier2. General setting may be (MA value x 0.5-0.7) Paint when volume is less than I then had the result paint or highlight the bars where this occurred. I also have the multiplier volume line plot on the volume region. Low volume bars where left hollow (or painted white or black depending on chart background). Higher volume bars painted a brighter color based on positive/negative close. The set was duplicated for (1)RTH and (2)outside RTH sessions as the variables are tighter during the Globex sessions due to reduced volume. I specified when (in time) to plot which set and when not to plot. Anything between the set bands MAx0.5 and MAx2.5 (or whatever setting is preferred) is considered normal, PS the multiplier variable can be changed based on market conditions. I found the high volume bar zones interesting area's to work off on retests and then at other times these where area's of rejection. Any assistance is greatly appreciated. A couple of examples attached. PS> Maybe there is a better way of identifying high volume/low volume bars on an intra-day basis, I'm interested in hearing your thoughts. Many thanks. Oz


OzMA Volume Multiplier Highlighter.png / V - Attached On 2023-07-01 10:56:49 UTC - Size: 152.66 KB - 78 views OzMA Volume Multiplier Highlighter2.png / V - Attached On 2023-07-01 10:57:12 UTC - Size: 448.85 KB - 76 views Attachment Deleted.

[2023-07-01 14:58:07] #2 [Go To First Post]
Sawtooth - Posts: 3992
Try this: -Add the Volume study. -Add the MA of your choice, set the Based On to the Volume study, set the Chart Region to the same as the Volume study. -Add the Study Subgraph Multiply study, set the Based On to the MA study, set the Chart Region to the same as the Volume study, set the Multiplier as needed. -Duplicate the above Study Subgraph Multiply study, and edit the Multiplier as needed. -Add the Color Bar Based On Alert Condition study, use a formula like this on the Alerts tab: =ID2.SG1>ID4.SG1 where ID2 is the Volume study, and ID4 is one of the Study Subgraph Multiply studies. -Duplicate the above color bar study, and edit the formula as needed to reference the other Study Subgraph Multiply study. Date Time Of Last Edit: 2023-07-02 15:57:01

[2023-07-02 05:48:54] #3 [Go To First Post]
Oz - Posts: 48
Hi @Tomgilb, Thank you that works well. You are awesome! Is it possible to set the paint bar color based on bar close as in up bar, down bar, flat bar? Cheers

[2023-07-02 15:53:40] #4 [Go To First Post]
Sawtooth - Posts: 3992
Is it possible to set the paint bar color based on bar close as in up bar, down bar, flat bar? You'd need an instance of the color bar study for each color, and use a formula like this (for an up bar): =AND(ID2.SG1>ID4.SG1,C>O)

[2023-07-03 01:49:36] #5 [Go To First Post]
Oz - Posts: 48
@Tomgild Thank you that works well. I got it going for the first and then just duplicated and changed the close. Thanks to your guidance it was much easier than I initially thought. Brilliant!

[2023-07-03 02:52:41] #6 [Go To First Post]
Sawtooth - Posts: 3992
Sierra Chart is extremely flexible. You can do many things with just the native studies. If you take it one step further, the native spreadsheet studies open even more possibilities. If you take it another step further, you can program most anything using their c++ based ACSIL interface language. If you're a real geek, you can take it further using their DTC Protocol DTC Protocol

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