Line A is calculating the spread between the Bid Volume - Ask Volume.
Line B is a 50 period Exponential average of the Line A spread.
Line C adds 50 to the average and takes the Absolute
value of the result. Line D finds the highest value from line C in the
last 100 values, and this will be used as a divisor on Line E to calculate
Average / Max Value.
Line B initialize the paint can with a default Blue color. Line F will
test to see if the Line E ratio is above 0.5 and change the paint can
color to Green.
Line G will test to see if the Line E ratio is below -0.5 and conditionally
change the paint can color to Red.
Finally, Line H will plot the Line B average spread using the histogram
marker and the color in the paint can. The paint can color will be used
because the color selection for Line H is black. Black is the selection
that tells the DYO to use the color in the paint can, which is either
blue, green or red.
Sincerely, Howard Arrington