Comments on: Relative Volume Percentage http://www.thinkscripter.com/2009/07/26/relative-volume-percentage/ Custom ThinkScript Indicator Scripts for thinkorswim Wed, 28 Jul 2010 12:44:47 +0000 hourly 1 http://wordpress.org/?v=3.0 By: piktrader http://www.thinkscripter.com/2009/07/26/relative-volume-percentage/comment-page-1/#comment-1488 piktrader Sun, 10 Jan 2010 19:42:05 +0000 http://www.thinkscripter.com/?p=1436#comment-1488 Thanks Eric, Sorry for the misunderstanding. I did look at the 5 minute intraday on the /NQ for Friday and it did not look right either. I'm sure you are busy but take a look at say the 5 minute 3:40 bar on 1/8/2010 vs. the 5 minute 3:40 bar on 1/7/2010. Do you feel its producing the proper data values? Thanks Eric,

Sorry for the misunderstanding. I did look at the 5 minute intraday on the /NQ for Friday and it did not look right either. I’m sure you are busy but take a look at say the 5 minute 3:40 bar on 1/8/2010 vs. the 5 minute 3:40 bar on 1/7/2010. Do you feel its producing the proper data values?

]]> By: ThinkScripter http://www.thinkscripter.com/2009/07/26/relative-volume-percentage/comment-page-1/#comment-1487 ThinkScripter Sun, 10 Jan 2010 19:35:41 +0000 http://www.thinkscripter.com/?p=1436#comment-1487 You are misunderstanding the purpose of this study. This study is not designed to work on daily charts - only intraday charts (see the description above). It is designed to show you the relative volume compared to the same bar in other trading days. So, on an hourly chart, it will compare the volume in the 10:30-11:30 bar to all the other 10:30-11:30 bars present on your chart. The most you can use is 20 days of data which is the TOS limit for intraday charts. -Eric You are misunderstanding the purpose of this study. This study is not designed to work on daily charts – only intraday charts (see the description above). It is designed to show you the relative volume compared to the same bar in other trading days. So, on an hourly chart, it will compare the volume in the 10:30-11:30 bar to all the other 10:30-11:30 bars present on your chart. The most you can use is 20 days of data which is the TOS limit for intraday charts.
-Eric

]]> By: piktrader http://www.thinkscripter.com/2009/07/26/relative-volume-percentage/comment-page-1/#comment-1486 piktrader Sun, 10 Jan 2010 19:23:35 +0000 http://www.thinkscripter.com/?p=1436#comment-1486 I'm not sure I understand this. Lets looks at the /NQ chart on TOS Style= 3-months, Day If I look at volume on the /NQ on 1/18/2009 I get a Volume number of 268,934 with an average number of 51.07 and a percentDiff number of 75.985. If my volume was above the average, shouldn't the percentDiff value be over 100%? What am I missing here? Something does not seem to be correct here, but I may also may not be understanding it correctly. For instance if you use QuoteTracker and bring up the 3-month relative percent average for QQQQ on Friday it was near 130% of the 3-month average. I would think that the percentDiff would give me a similar number to indicate how much higher the volume was compared to the overall average. Please correct me if I am wrong. Thanks I’m not sure I understand this. Lets looks at the /NQ chart on TOS

Style= 3-months, Day
If I look at volume on the /NQ on 1/18/2009 I get a Volume number of 268,934 with an average number of 51.07 and a percentDiff number of 75.985. If my volume was above the average, shouldn’t the percentDiff value be over 100%? What am I missing here? Something does not seem to be correct here, but I may also may not be understanding it correctly. For instance if you use QuoteTracker and bring up the 3-month relative percent average for QQQQ on Friday it was near 130% of the 3-month average. I would think that the percentDiff would give me a similar number to indicate how much higher the volume was compared to the overall average. Please correct me if I am wrong.

Thanks

]]> By: ThinkScripter http://www.thinkscripter.com/2009/07/26/relative-volume-percentage/comment-page-1/#comment-1484 ThinkScripter Sun, 10 Jan 2010 14:29:13 +0000 http://www.thinkscripter.com/?p=1436#comment-1484 The average period input is the period for the yellow average line you see running through the study. It is an average of the volume percentage. The threshold tells the study what percentage above or below the 100% line to color the bar. So, if set at 25%, a bar with a 75% or less will be colored red while a 125% or more will be green. The zero line is set at 100% indicating that bar is at the average for that time bar (100%). -Eric The average period input is the period for the yellow average line you see running through the study. It is an average of the volume percentage. The threshold tells the study what percentage above or below the 100% line to color the bar. So, if set at 25%, a bar with a 75% or less will be colored red while a 125% or more will be green. The zero line is set at 100% indicating that bar is at the average for that time bar (100%).
-Eric

]]> By: piktrader http://www.thinkscripter.com/2009/07/26/relative-volume-percentage/comment-page-1/#comment-1479 piktrader Sun, 10 Jan 2010 01:57:20 +0000 http://www.thinkscripter.com/?p=1436#comment-1479 Can you please tell me what the average period input does, along with the threshold input? Also what is the purpose of the zero indicator? thanks Can you please tell me what the average period input does, along with the threshold input? Also what is the purpose of the zero indicator?

thanks

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