HawkEye volume , developed by Nigel Hawks, is supposed to be a premier VSA indicator. Documentation on this is scarce (looks like the training seminars/sessions conducted by the parent company cover this in detail), if you come across any (other than what I have mentioned on that chart) do let me know.
I am not sure how much this resembles the commercial indicator out there as I don't have access to one (noticed the "clone" part? :) ). This is a direct port of a similar MT4 indicator. If you have access to the commercial indicator in another platform, do post some comparison results.
I am not sure how much this resembles the commercial indicator out there as I don't have access to one (noticed the "clone" part? :) ). This is a direct port of a similar MT4 indicator. If you have access to the commercial indicator in another platform, do post some comparison results.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
//
// @author LazyBear
// If you use this code, in its original or modified form, do drop me a note. Thx.
//
study("HawkEye Volume Indicator [LazyBear]", shorttitle="HVI_LB")
length=input(200)
range=high-low
rangeAvg=sma(range,length)
volumeA=sma(volume, length)
divisor=input(3.6)
high1=high[1]
low1=low[1]
mid1=hl2[1]
u1 = mid1 + (high1-low1)/divisor
d1 = mid1 - (high1-low1)/divisor
r_enabled1 = (range > rangeAvg) and (close < d1) and volume > volumeA
r_enabled2 = close < mid1
r_enabled = r_enabled1 or r_enabled2
g_enabled1 = close > mid1
g_enabled2 = (range > rangeAvg) and (close > u1) and (volume > volumeA)
g_enabled3 = (high > high1) and (range < rangeAvg/1.5) and (volume < volumeA)
g_enabled4 = (low < low1) and (range < rangeAvg/1.5) and (volume > volumeA)
g_enabled = g_enabled1 or g_enabled2 or g_enabled3 or g_enabled4
gr_enabled1 = (range > rangeAvg) and (close > d1) and (close < u1) and (volume > volumeA) and (volume < volumeA*1.5) and (volume > volume[1])
gr_enabled2 = (range < rangeAvg/1.5) and (volume < volumeA/1.5)
gr_enabled3 = (close > d1) and (close < u1)
gr_enabled = gr_enabled1 or gr_enabled2 or gr_enabled3
v_color=gr_enabled ? gray : g_enabled ? green : r_enabled ? red : blue
plot(volume, style=histogram, color=v_color, linewidth=5)