Abnormal Number Of Trades Intraday Indicator/Scanner

[justAnotherTrader]

Just a simple momentum scanner designed to pick up on unusual number of trades inspired by equityfeed. This scanner will scan on the desired time frame for stocks that are 3*the average number of trades in the current bar i.e. 1min etc. I hope you guys like it, I havent found a similar one on this site, so let me know if its a dup.

declare lower;

def AbnormalTradeMultiplier = 3;
def AvgTradeCountLength = 50;

def TradeCount = tick_count;
def AvgTradeCount = Average(TradeCount, AvgTradeCountLength);
def AbnormalNumberOfTrades = AbnormalTradeMultiplier*AvgTradeCount;
def scan = TradeCount > AbnormalNumberOfTrades;

plot s =scan;

This picture shows where the scan would have picked up NCLH indicated by the oval on the lower indicator and the red arrow on the main chart.

 

[Newton]

Thanks for the scanner. Do you put it as a study?

 

[BenTen]

@Newton Something like this should work:

 

[justAnotherTrader]

@Newton I use it as a scanner, but I adjust everything from the thinkscript editor. So far the way I have gotten the most utility out of it is to set the AvgTradeCount > 100 and set time frame to 5 minutes to get me the most liquid stocks with abnormal trade activity.

A real life example: Yesterday the scanner picked up on AMD at $60 around market open. The stock continued to run all day into after market reaching a peak of somewhere around 62.50

Im still playing with the settings but I believe there is a lot of potential using it in conjunction with another study. If for no other reason than to identify a universe of stocks that are super liquid to get in and out of quickly.

My settings with the 5 minute time frame:

declare lower;

def AbnormalTradeMultiplier = 3;
def AvgTradeCountLength = 50;

def TradeCount = tick_count;
def AvgTradeCount = Average(TradeCount, AvgTradeCountLength);
def AbnormalNumberOfTrades = AbnormalTradeMultiplier*AvgTradeCount;
def scan = TradeCount > AbnormalNumberOfTrades;


plot s =scan and AvgTradeCount > 100;

 

[Newton]

Cool, thank you very much.

 

[Adeodatus]

Very limited indicator, but it does exactly what its programmed it to do. I like intraday, not so much swingtrade or buy and hold, so I shortened the "def AvgTradeCountLength" to '13', to give it room to look back and still be ahead of any major movement. Works very well! I can get into a bullish run and, along with other indicators, it always provides the first indication of any major move in PPS in the bullish direction. lots of possibilities, maybe someone can code up a center-zero-line, and a distinction of a bearish signal too. Nice work J.A.Trader!

Lower indicator - - - - - -averagetradecountlength = 5, plot > 87

Lower lower indicator - -averagetradecountlength = 17, plot > 25

 

[HighBredCloud]

@justAnotherTrader Does this scanner ONLY search for LONG positions? or is it also searching for SHORTS?

 

[justAnotherTrader]

@justAnotherTrader Does this scanner ONLY search for LONG positions? or is it also searching for SHORTS?

It is not biased to price direction. Its just looking for an unusual number of trades