Comments on: Relative Volume Percentage

By: piktrader

piktrader — Sun, 10 Jan 2010 19:42:05 +0000

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

ThinkScripter — Sun, 10 Jan 2010 19:35:41 +0000

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

piktrader — Sun, 10 Jan 2010 19:23:35 +0000

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

ThinkScripter — Sun, 10 Jan 2010 14:29:13 +0000

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

piktrader — Sun, 10 Jan 2010 01:57:20 +0000

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

By: sunset_atl

sunset_atl — Sat, 05 Sep 2009 05:07:38 +0000

Wouldn’t that be 23.25 hours, assuming index futures are closed 4.15 to 4.30 and 5.30 to 6 eastern time?

And what would the considerations be for currency futures that trade all but 5 to 6.

I presume it would work with 23.25 and 23 respectively. Not quite savy enough to fully understand the code but guessing the code just counts bars from some anchor point each day to find the volume bar it needs to tally – and doesn’t care otherwise.

By: Nunya

Nunya — Sat, 05 Sep 2009 04:36:01 +0000

Cheerio !

By: ThinkScripter

ThinkScripter — Thu, 20 Aug 2009 01:42:07 +0000

Yes – Percentage is relative to the same period average over all the bars in the chart. I have not tried it on 24 hours but can’t think of any reason why it wouldn’t work.
Eric

By: filip

filip — Wed, 19 Aug 2009 04:46:32 +0000

So the percentage is relative to the same period average of the other days in the chart? For example if one uses 60 min 20 days and 10 o´clock shows 150%, that means its 150% of the averge for 10 o´clock the last 20 days?

Does compare in 60 min or if one uses 5-min chart, does it compare to other 5-min periods?

And lastly, if one would put 24h per cycle would it work premaket as well on a indexfuture?

Lots of questions but it seems to be an interesting indicator… Thankx

By: AdamGreen

AdamGreen — Mon, 27 Jul 2009 04:05:42 +0000

So. Does this work on tick charts?