Technical Studies Reference

Volume-Up

This study calculates and displays the volume of the Up 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-Up at Index $$t$$ is denoted as $$V^{(U)}_t$$. The method of computation of Volume-Up depends on the setting of the Input Compare Close With.

If Compare Close With is set to PrevClose, then an Up Bar is a bar for which $$C_t > C_{t - 1}$$. $$V^{(U)}_t$$ is then computed as follows.

$$\displaystyle{V^{(U)}_t = \left\{ \begin{matrix} V_t & C_t > C_{t - 1} \\ 0 & C_t \leq C_{t - 1} \end{matrix}\right .}$$

If Compare Close With is set to Open, then an Up Bar is a bar for which $$C_t > O_t$$. $$V^{(U)}_t$$ is then computed as follows.

$$\displaystyle{V^{(U)}_t = \left\{ \begin{matrix} V_t & C_t > O_t \\ 0 & C_t \leq O_t \end{matrix}\right .}$$

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.