Inputs: Color(Cyan), LowColor(Yellow), ClimaxColor(Red), ChurnColor(Green), ClimaxChurnColor(Magenta), LowChurnColor(White), AvgColor(Red);
Variables: BarColor(Cyan);
BarColor = Color;
Value1 = V;
Value2 = V*Range;
If Range <> 0 then Value3 = V/Range;
Value4 = Average(Value1,100);
If Value1 = Lowest(Value1,20) then BarColor = LowColor;
If Value2 = Highest(Value2,20) then BarColor = ClimaxColor;
If Value3 = Highest(Value3,20) then BarColor = ChurnColor;
If Value2 = Highest(Value2,20) and Value3 = Highest(Value3,20) then BarColor = ClimaxChurnColor;
If Value3 = Lowest(Value3,20) then BarColor = LowChurnColor;
Plot1(Value1,"Volume",BarColor);
Plot2(Value4,"Avg",AvgColor);
I'm not sure if this additional information is in the code above:
"
TradeStation EasyLanguage code for the Better Volume indicator is shown above. The typical volume histogram can be improved by coloring bars based on 5 criteria:
- Climax volume - high volume and high range
- High volume churn - high volume but low range
- Climax volume plus High volume churn - both the above conditions (rare)
- Low volume churn - low volume and high range
- Low volume - just low volume but not a low volume churn bar"

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