Average Volume Deviation For ThinkOrSwim


Active member
I'm playing around with the idea of volume divergences, so I wanted to see an average of volume deviated from the norm. I couldn't really find anything already scripted, so I made this. So far, I don't have any correlation other than the fact that when volume increases, range and volatility also increase. But it's interesting enough to pursue and share so here you go. Enjoy.



# Author: Ramon DV aka Pelonsax
declare lower;

input length = 7;
input signalLength = 10;
input averageType = AverageType.EXPONENTIAL;
input showBreakoutSignals = yes;

def V = volume;

plot AVD = MovingAverage(averageType, V, length);
plot Signal = MovingAverage(averageType, AVD, signalLength);

plot UpSignal = if AVD crosses above signal then signal else Double.NaN;
plot DownSignal = if AVD crosses below signal then signal else Double.NaN;




AVD.DefineColor("Above and Up", Color.GREEN);
AVD.DefineColor("Above and Down", Color.DARK_GREEN);
AVD.DefineColor("Below and Down", Color.RED);
AVD.DefineColor("Below and Up", Color.DARK_RED);
AVD.DefineColor("Current", Color.CURRENT);

AVD.AssignValueColor( if AVD > Signal and AVD > AVD[1] then
AVD.Color("Above and Up") else if AVD >= Signal and AVD < AVD[1] then
AVD.Color("Above and Down") else if AVD < Signal  and AVD < AVD[1] then
AVD.Color("Below and Down") else if AVD <= Signal and AVD > AVD[1] then
AVD.Color("Below and Up") else AVD.Color("Current"));

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