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Time Segmented Volume

by Brian Brown, 3951 days ago
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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.


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Type: Trading Indicator

Object ID: 1422


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