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The time segmented volume is a technical indicator that segments the price and volume of a stock according to time intervals.
The idea is to calculate accumulation (buying) and distribution (selling) based on volume and price change. The time segmented volume or TSV indicator increases when the current bar's close is higher than yesterday's bar close and decreases when the current bar's close is lower than yesterday's bar close.
TSF indicator is similar to the on-balance volume since both of them measure the amount of money flowing in and out of a stock.
How to apply the formula to a chart:
- Create a new pane
- Right click on it
- Select "Edit Formula"
- Type the following formula then click on "Update Graph"
a = tsv(18);
Plot(a,"Time Segmented Volume");
Note that the accumulation/distribution volume returned by this function is divided by 1000.
The accumulation/distribution volume is calculated based the last N-Bars.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
