WTT Volume
WTT Volume
# WTT Volume by bf30075
This indicator is based on the chapter Progress in Volume Capacity of WTT. The Fundamentals and Advance of Natural Trading Theory.
Progress in volume capacity focuses on the absolute strength or relative strength of the volume capacity of bulls and bears in a single k-bar.
The book grades volume capacity as follows:
Absolute Strength:
Absolute strength of bulls: the bulls win and close, with long lower shadow or long solid body.
Absolute strength of bears: the bears win and close, with long upper shadow or long solid body.
Relative Strength
Relative strength of bulls: long lower shadow much longer than the solid K-bar, even when the bears win; or well-matched solid K-bar and upper shadow when the bulls close.
Relative strength of bears: long upper shadow much longer than the solid K-bar, even when the bulls win; or well-matched solid K-bar and lower shadow when the bears close.
Crosshairs
Frequently found in market shocks or before turning points, to be analyzed on top of the above relative and absolute strength.
This indicator colors the volume by the size of volume capacity, dark colors for the strong, light colors for the weak, and grey crosshairs. This is to make it easier for you to draw the curve of volume capacity and feel the contrast of strength between the bulls and the bears. You may therefore have better timing and position for opening and closing a position. The bull-bear strength comparison reflected by a single k-bar helps you better decide the next move within a very short period, which could be opening a position, coming into the position at low, underweighting, or closing a position.
本指标根据《WTT. 自然交易理论基础与进阶》量能精进一章编写。
量能精进关注的，是单个 K 柱中多空双方量能的绝对强势或相对强势。
该书把量能分为以下几个等级：
绝对强势
多头绝对强势：多头获胜收线，带有长下影线或长实心柱体。
空头绝对强势：空头获胜收线，带有长上影线或长实心柱体。
相对强势
多头相对强势：长下影线相对实心 K 柱长很多，即使是空头获胜收线；或多头收线时实心 K 柱与上影线旗鼓相当。
空头相对强势：长上影线相对实心 K 柱长很多，即使是多头获胜收线；或空头收线时实心 K 柱与下影线旗鼓相当。
十字线
在震荡行情或出现拐点前出现频率较高，可结合上述相对强势和绝对强势进行综合判断。
本指标根据量能强弱对交易量进行染色，强势为深色，弱势为浅色，灰色为十字线，方便你手绘量能曲线，感受多空量能强弱。能给你提供更优的开平仓时机和点位。通过单个 k 柱形态反映出来的多空强弱关系，你可以更好地执行下一个极短周期内的操作，可能是开仓，也可能是补仓、减仓或平仓。
Feb 24, 2021
Release Notes
Add alarm.
添加警报功能。
Feb 24, 2021
Release Notes
Improve the English description of alert.
（PineScript Private）
# WTT Volume Trend by Morty
Inspired by Natural Trading Theory
It is a colored volume indicator based on the strength of single candlestick pattern.
It also paints two weighted volume SMA, which shows the strength and trend of the market.
Version 1.0, Updated at 20210327
Features:
- Colored volume bars (Optional)
- Weighted Bullish volume SMA trend lines according to candlestick pattern
- Weighted Bearish volume SMA trend lines according to candlestick pattern
- Adjustable volume SMA length
- Adjustable weighting factors
- Filling the background between volume SMA trend lines
Mar 29, 2021
Release Notes
fix bullish weak and bearish weak pattern recognition bugs
Apr 9, 2021
Release Notes
Version 1.1
Add feature: Highlight large volume
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ | |
// © M0rty | |
//@version=4 | |
//////////////////////////////////////////////////////////////// | |
// | |
// WTT Volume Trend by Morty | |
// | |
// Inspired by Natural Trading Theory | |
// | |
//-------------------------------------------------------------- | |
// Version 1.1, Updated at 20210409 | |
// | |
// Add feature: | |
// - Highlight large volume | |
// | |
//-------------------------------------------------------------- | |
// Version 1.0, Updated at 20210327 | |
// | |
// Features: | |
// - Colored volume bars (Optional) | |
// - Weighted Bullish volume SMA trend lines according to candlestick pattern | |
// - Weighted Bearish volume SMA trend lines according to candlestick pattern | |
// - Adjustable volume SMA length | |
// - Adjustable weighting factors | |
// - Filling the background between volume SMA trend lines | |
// | |
//////////////////////////////////////////////////////////////// | |
study(title="WTT Volume Trend [Morty]", shorttitle="Vol Trend [Morty]", format=format.volume, resolution="") | |
// inputs | |
showVolume = input(true, "Show Volume Bars", group="Volume Bars") | |
showColor = input(true, "Coloring Volume Bars", group="Volume Bars") | |
showTrend = input(true, "Show Volume Trend", group="Volume Trend") | |
trend_ma_length = input(5, "Volume Trend SMA length", type=input.integer, group="Volume Trend") | |
strong_volume_weighting_factor = input(0.8, "Strong volume weighting factor", type=input.float, minval=0.0, maxval=1.0,step=0.1, group="Volume Trend weighting factor") | |
weak_volume_weighting_factor = input(0.4, "Weak volume weighting factor", type=input.float, minval=0.0, maxval=1.0,step=0.1, group="Volume Trend weighting factor") | |
neutral_volume_weighting_factor = 1 | |
// candlestick pattern variables | |
C_Len = 10 // ema depth for bodyAvg | |
C_ShadowPercent = 5.0 // size of shadows | |
C_ShadowEqualsPercent = 100.0 | |
C_DojiBodyPercent = 8.5 | |
C_Factor = 2.0 // shows the number of times the shadow dominates the candlestick body | |
C_BodyHi = max(close, open) | |
C_BodyLo = min(close, open) | |
C_Body = C_BodyHi - C_BodyLo | |
C_BodyAvg = ema(C_Body, C_Len) | |
C_SmallBody = C_Body < C_BodyAvg | |
C_LongBody = C_Body > C_BodyAvg | |
C_UpShadow = high - C_BodyHi | |
C_DnShadow = C_BodyLo - low | |
C_HasUpShadow = C_UpShadow > C_ShadowPercent / 100 * C_Body | |
C_HasDnShadow = C_DnShadow > C_ShadowPercent / 100 * C_Body | |
C_WhiteBody = open < close | |
C_BlackBody = open > close | |
C_Range = high-low | |
C_IsInsideBar = C_BodyHi[1] > C_BodyHi and C_BodyLo[1] < C_BodyLo | |
C_BodyMiddle = C_Body / 2 + C_BodyLo | |
C_ShadowEquals = C_UpShadow == C_DnShadow or (abs(C_UpShadow - C_DnShadow) / C_DnShadow * 100) < C_ShadowEqualsPercent and (abs(C_DnShadow - C_UpShadow) / C_UpShadow * 100) < C_ShadowEqualsPercent | |
C_IsDojiBody = C_Range > 0 and C_Body <= C_Range * C_DojiBodyPercent / 100 | |
C_Doji = C_IsDojiBody and C_ShadowEquals | |
// candlestick pattern recognition | |
// Neutral Doji | |
C_DragonflyDoji = C_IsDojiBody and C_UpShadow <= C_Body | |
C_GravestoneDojiOne = C_IsDojiBody and C_DnShadow <= C_Body | |
is_Doji = C_Doji and not C_DragonflyDoji and not C_GravestoneDojiOne | |
// LongLowerShadowInput | |
C_LongLowerShadowPercent = 55.0 | |
C_LongLowerShadowBullish = C_DnShadow > C_Range/100*C_LongLowerShadowPercent | |
// LongUpperShadowInput | |
C_LongShadowPercent = 55.0 | |
C_LongUpperShadowBearish = C_UpShadow > C_Range/100*C_LongShadowPercent | |
// Bullish | |
is_Bullish_strong = C_WhiteBody and (C_LongLowerShadowBullish or C_LongBody) | |
is_Bullish_weak = C_LongLowerShadowBullish or (C_WhiteBody and (C_Body>=0.45*C_UpShadow or C_Body<=0.55*C_UpShadow)) | |
// Bearish | |
is_Bearish_strong = C_BlackBody and (C_LongUpperShadowBearish or C_LongBody) | |
is_Bearish_weak = C_LongUpperShadowBearish or (C_BlackBody and (C_Body>=0.45*C_UpShadow or C_Body<=0.55*C_UpShadow)) | |
// calculate weighting volume | |
weight_bullish = iff(is_Doji, neutral_volume_weighting_factor, | |
iff(is_Bullish_strong, 1+strong_volume_weighting_factor, | |
iff(is_Bearish_strong, 1-strong_volume_weighting_factor, | |
iff(is_Bullish_weak, 1+weak_volume_weighting_factor, | |
iff(is_Bearish_weak, 1-weak_volume_weighting_factor, | |
neutral_volume_weighting_factor))))) | |
weight_bearish = iff(is_Doji, neutral_volume_weighting_factor, | |
iff(is_Bullish_strong, 1-strong_volume_weighting_factor, | |
iff(is_Bearish_strong, 1+strong_volume_weighting_factor, | |
iff(is_Bullish_weak, 1-weak_volume_weighting_factor, | |
iff(is_Bearish_weak, 1+weak_volume_weighting_factor, | |
neutral_volume_weighting_factor))))) | |
volume_bullish = volume * weight_bullish | |
volume_bearish = volume * weight_bearish | |
bullish_sma = showTrend ? sma(volume_bullish, trend_ma_length) : na | |
bearish_sma = showTrend ? sma(volume_bearish, trend_ma_length) : na | |
// plot | |
blue = color.blue | |
green = color.green | |
red = color.red | |
light_green = #afd4ab | |
light_red = #e39e9c | |
neutral = color.gray | |
palette = iff(is_Doji, blue, | |
iff(is_Bullish_strong, green, | |
iff(is_Bearish_strong, red, | |
iff(is_Bullish_weak, light_green, | |
iff(is_Bearish_weak, light_red, | |
neutral))))) | |
original_color = close>open?green:red | |
// plot volume bars | |
plot(showVolume? volume : na, title='volume', color=showColor?palette:original_color, | |
style=plot.style_columns, transp=showColor?10:35) | |
// plot volume trend SMA | |
p1 = plot(bullish_sma, title="Bullish Volume Trend", | |
linewidth=2, color=green, transp=0) | |
p2 = plot(bearish_sma, title="Bearish Volume Trend", | |
linewidth=2, color=red, transp=0) | |
// fill area between volume trend | |
fill(p1, p2, color=bullish_sma>bearish_sma?green:red, transp=75) | |
// add bgcolor to highlight large volume | |
is_large_volume = volume > 2.25 * ema(volume, 14) | |
bgcolor(is_large_volume?palette:na, transp=90, title='Highlight large volume') |
