VOLUME BASED ADX

BUYING AND SELLING PRESSURE INDICATOR

Code:

//Indicator Buy and sell pressure - Smoothed with Histoggram

// By Karthik Marar - www.karthikmarar.blogspot.com

_SECTION_BEGIN("Buy & Sell Pressure - Smoothed with Histogram - V.1.0");

SetChartOptions(0,chartShowArrows|chartShowDates);

sp = H-C;

bp = C-L;

bpavg = EMA(bp,80);

spavg = EMA(sp,80);

nbp = bp/bpavg;

nsp = sp/spavg;

diff = nbp-nsp;

diffcolor = IIf(diff>0,colorGreen,colorOrange);

Varg = EMA(V,80);

nv = V/Varg;

nbfraw = nbp * nv;

nsfraw = nsp * nv;

nbf = EMA(nbp * nv,20);

nsf = EMA(nsp * nv,20);

Plot(nbf,"Buying Pressure",colorTurquoise,1|styleThick);

Plot(nsf,"selling Pressure",colorYellow,1|styleThick);

diff = nbf-nsf;

diffcolor = IIf(diff>0,colorGreen,colorRed);

SetBarFillColor( diffcolor ); 

PlotOHLC(0,diff,0,diff,"Force",IIf(diff>0,colorLime,colorOrange), styleCandle | styleOwnScale ) ;

_SECTION_END();

_SECTION_BEGIN("Title");

if( Status("action") == actionIndicator ) 

(

Title = EncodeColor(colorWhite)+ "Buy & Selll Pressure - Smoothed with Histogram V.1.0 " + " - " +  Name() + " - " + EncodeColor(colorRed)+ Interval(2) + EncodeColor(colorWhite) +

 "  - " + Date() +" - "+"\n" + EncodeColor(colorYellow) + "Raw Buying pressure = "+ EncodeColor(colorLime) + WriteVal(nbf)+

"\n"+ EncodeColor(colorYellow) + "Raw Selling pressure = "+ EncodeColor(colorRed) +  WriteVal(nsf)+

"\n"+ EncodeColor(colorYellow) + "Force = "+ WriteVal(diff));

_SECTION_END();