The ShadowTrader Intraday Volume Measure thinkScript compares broad market volume data throughout the day, in increments defined by the trader, and compares it to previous broad market volume levels at the same times on previous days. In this way a trader can put current price action into context by comparing volume levels. Color coded results make the interpretation of this information easy to understand.
Use overall volume to contextualize the current trading day range bound, trend. Measures and plots intraday volume levels of major averages and exchanges relative to average levels of user defined intervals throughout the trading day.
Includes on screen menu of index volume symbols available on TOS for quick and easy moves between indices. Includes detailed instructions on how to insert and customize on your thinkorswim platform. Skip to content. Intraday Volume Measure Thinkscripts.
Relative Volume for Intraday Trading
Measures and plots intraday volume levels of major averages and exchanges relative to average levels of user defined intervals Customizable settings for individual user preferences Includes on screen menu of index volume symbols available on TOS for quick and easy moves between indices Includes detailed instructions on how to insert and customize on your thinkorswim platform.
Details Details The ShadowTrader Intraday Volume Measure thinkScript compares broad market volume data throughout the day, in increments defined by the trader, and compares it to previous broad market volume levels at the same times on previous days.
ShadowTrader Intraday Volume Measure Use overall volume to contextualize the current trading day range bound, trend. Measures and plots intraday volume levels of major averages and exchanges relative to average levels of user defined intervals throughout the trading day Customizable settings for individual user preferences Includes on screen menu of index volume symbols available on TOS for quick and easy moves between indices.Please log in to view and run your Saved Maps.
A Simple Way to Read Intraday Volume
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Fidelity does not endorse or adopt any particular investment strategy or approach to screening or evaluating ETPs.Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. In mathematical sense, the Relative Volume StDev is calculated as the ratio of the volume to its simple moving average SMAexpressed in standard deviations. This value is plotted as a histogram; its bars are highlighted when the volume is unusually large.
According to the author, this happens if the indicator value exceeds 2. DPLs are horizontal lines that run across the chart feel free to use a Price Level drawing for that at levels defined by following conditions:.
S&P 500 Index
DPLs can be used as support and resistance levels. Not a recommendation of a specific security or investment strategy. DPLs are horizontal lines that run across the chart feel free to use a Price Level drawing for that at levels defined by following conditions: Overlapping bars.
If the indicator spike i. Very large bars. If the indicator spike corresponds to a price bar of a large size, use its close price as the DPL value. Gapping bars.
If the indicator spike corresponds to a price bar gapping from the previous bar, the DPL value will depend on the gap size. Small gaps can be ignored: the author suggests using the previous close as the DPL value.
When the gap is big, the close of the latter bar is used instead. Clustering spikes. If the indicator spikes come in clusters, use the extreme close or open price of the bar corresponding to the last or next to last spike in cluster. Input Parameters Parameter Description length The number of bars used in calculation of both the standard deviation and the simple moving average.
StDevLevel The critical level. Further Reading 1. The number of bars used in calculation of both the standard deviation and the simple moving average.Today's Posts. Mark Forums Read. Quotes by TradingView. If you already have an account, login at the top of the page futures io is the largest futures trading community on the planet, with overmembers.
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You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple. Elite Member. I'm still trying to effectively use volume in my trading.
My thinking logically leads me to the concept of relative volume ; i. I did some googling Brett Steenbarger's blog he uses Excel to plot and code for other platforms.
If not, can anybody kindly port this code to Ninja 6. I'm no programmer but from the code I've seen, it doesn't look to complicated. Thanks in advance - soulartist. The following user says Thank You to soulartist for this post: RapidTrader. Can you help answer these questions from other members on futures io?
Help Moving average with Lag reduction NinjaTrader. Traders Hideout.In trading, the term volume represents the number of units that change hands for stocks or futures contracts over a specific time period. Traders rely on it as a key metric because it lets them know the liquidity level of an asset, and how easily they can get into or out of a position close to the current price, which can be a moving target.
Volume analysis is a technique used to determine the trades you will make by discovering the relationships between volume and prices. The two key concepts behind volume analysis are buying volume and selling volume. When trading volume is higher, you'll have an easier time buying and selling large or small quantities of stockbecause other traders are in the market, waiting to fulfill the other side of your trade.
Each transaction must have a buyer and a seller. To buy a stock, for example, a seller must sell to you, and for you to sell, a buyer must buy from you. Buyers have control when the price gets pushed higher.
Buy volume occurs at the offer price, and represents the lowest advertised price at which sellers will part with their shares. When someone buys shares at the current offer price, it shows that someone desires the stock and is included in the buying volume metric. Sellers have more control when the price gets pushed lower.
Sell volume occurs at the bid price. The bid represents the highest advertised price buyers will offer. If someone wants to sell at the bid price, it shows that the seller doesn't desire the stock this demonstrates an example of selling volume.
Volume typically shows along the bottom of a stock price chart. Charts depict trading volume in vertical bars, with the bar showing how many shares changed hands over a particular time period. The image below is a trading example of a 1-minute chart, where each volume bar along the bottom shows how many shares were traded in each one minute period. The volume bars on a daily chart show how many shares change hands during the course of each day.
Volume bars may be colored. A red volume bar means the price declined during that period and the market considers the volume during that period as selling volume estimated. If the volume has a green bar, then the price rose during that period and it is considered by the market as buying volume estimated. Traders prefer day trading stock with volume as it allows you to get into and out of a position quickly, with large or small positions.
The average volume statistic shows how many shares change hands in investments on a normal day. Some days will have a much higher volume than normal, while other days see a lower volume. Lower-than-average volume shows lower interest in the stock on that day and likely smaller price movements. Pay attention to days that have higher-than-usual volume. Such days usually have volatility and large price moves either up or down.
If most of the volume takes place at the bid price, then the price will move lower and the increased volume shows that sellers are motivated to get rid of the stock. If most of the volume has taken place at the ask price, then the stock price will move higher due to demand and price availability.Relative Volume RVOL compares current volume to the average volume for the same time of day during prior sessions. It gives a measurement as to how active the product is being traded. Increased volume can signify the start or end of a move.
In the screenshots below, the RVOL indicator has been added twice with different styling configurations. The orange dots and orange line represent the average of the volume for that specific timeframe over the past 20 days.
Notice that at the start of the move there is significantly higher volume than the average. Download PDF Manual. Download Relative Volume Indicator. Configure the colors and plot style to suit your needs and preferences. Configure the amount of days to be used for the calculation of the average volume for each specific time of day. Add the indicator to any intra-day chart. No NinjaTrader company has any affiliation with the owner, developer, or provider of the products or services described herein, or any interest, ownership or otherwise, in any such product or service, or endorses, recommends or approves any such product or service.
Our Indicators are built exclusively for the NinjaTrader Platform — Our 1 recommended trading platform. Skip to content. Relative Volume Indicator. NinjaTrader 8 Charting Extension. Secure Checkout with Paypal.
Technical Studies Reference
Relative Volume Indicator for NinjaTrader 8. Configurable Look Back Days. Configurable Styling. Add to Cart. Start 2 Week Trial. Indicator Features. RVol Styling Configure the colors and plot style to suit your needs and preferences. Look-Back Days Configure the amount of days to be used for the calculation of the average volume for each specific time of day.
Screenshot Gallery. Product Description. RVOL can be used to: Confirm a break-out Detect the start of a move early Detect the end of a move Expect increased odds of mean reversion throughout the session due to below average volume Quickly assess the Relative Volume Factor for the Day or Bar.
Buy License. Installation Instructions. License Instructions. To activate your license after your purchase, make sure to include your Machine ID in the Order Notes during Checkout.My Dashboard.
Relative Volume - for intraday bars. Given volumes fluctuate based on time-of-day, for intra-day bars the Relative Volume indicator in TASC library needs to be adjusted. Does the indicator support such intra-day calculation, to account for intra-day volume fluctuations? If not, what's the best approach to support this feature? The indicator does not contain any special adjustments for intraday. Early next month, the project's open source code will be updated on our website so that any motivated developer could take a look and try to enhance it.
Kiran: Curious if you were able to figure out the relative volume issue you mentioned years ago? I saw some old posts on ways one could trade based on intraday relative volume.
For example: if a stock meets a certain criteria at am then, only buy if the relative intraday volume calculated as average of cumulative daily volume at averaged over a 50 or day period. Thanks, Balram. QUOTE: if a stock meets a certain criteria at am then, only buy if the relative intraday volume calculated as average of cumulative daily volume at averaged over a 50 or day period.
That may look like a fun exercise but for me, averaging the bars over any period doesn't seem to have a solid rationale to justify the coding. Am I wrong? Eugene, Thanks for the reply. I think the relative volume is very useful. Clearly it is not needed for daily bars since its EOD. But for intraday bars, it could be helpful. For example, a stock could be trading at 10x volume at but by close at 4pm could have only 5x on daily. Knowing its 10x at is helpful info to have since a relative volume of 10x at could hint at a high potential of 5x on daily by EOD.
Any chance you can crack this :?