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This is a tick percise formula language indicator example that plot up tick volume, down tick volume and their difference.

This is a tick percise indicator that plot up tick volume, down tick volume as histograms and the difference between the two volume as line in a separate pane.

This indicator assume up side tick volume as up volume and down side tick volume as down volume.

The formula language indicator code is as follow:


myuv := DayTotalUpVolume;
mydv := DayTotalDownVolume;
myusv := DayTotalUpSideVolume;
mydsv := DayTotalDownSideVolume;
plot1 := if(day(data1.date(1))<>day(data1.date), myuv+myusv,
(DayTotalUpVolume-myuv(1))+(DayTotalUpSideVolume-myusv(1)));
plot2 := if(day(data1.date(1))<>day(data1.date), -1*(mydv+mydsv),
-1*((DayTotalDownVolume-mydv(1))+(DayTotalDownSideVolume-mydsv(1))));
plot3 := plot1+plot2; 'delta


Line 1-4: These 4 line assign value of function reslut to data series, what this does is like save calculation result in to an array.

The reason for these assignments are fucntions: DayTotalUpVolume, DayTotalDownVolume, DayTotalUpSideVolume and DayTotalDownSideVolume only return one calculation result. But the implementation of this indicator require reference to previous bar value of all 4 functions. So when assign result of these functions to a data series variable (a variable with no $ sign in front), then syntax such as uv(1) can be used to reference to previous bar value of the function calculation results.

Line 5,6 : These two lines are the heart of the indicator. Both line use if function to determine whether the current bar is first bar of a day. If it is then return result of adding total up and up-side or down and down-side volume, else a substraction of previous bar volume value is returned. What the substraction does is substracting accumulated day volume from previous bar, which leave volume return as up and up-side or down and down-side volume of current bar only.

Line 7: This line is pretty self explanatory, since down and down-side volume is already plotted as negative values. Adding the two plots together will produce difference between up tick and down tick volume.

When applying this indicator to chart tick replay must be use for proper historical calculation of the indicator.

Updowntick Volume Formula Script