Relative Volume as a Percentage indicator of Average volume?

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Burr63

New member
I posted an incorrect request earlier , I asked for Volume Profile by Mistake ....I am looking for an indicator that will display RELATIVE VOLUME as a PERCENTAGE of an Average volume, Whereas 100% would be the center line . Therefore it would be displayed As Like this screenshot ;

 
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inthefutures

inthefutures

Active member
I think your ask is unclear is why no response, so here goes some questions you say average volume, what average? why would 100 be center not 0?
how do you want to represent the relative part?
 
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Burr63

New member
thanks for asking for clarification: 100% would be the center line as as the 100% line would equate to Average volume . If volume were 10% above normal it would then read 110% and of course vice versa , if volume were lower than average lets say 20% less it would be displayed as 80% . I am looking for it to display then similar to the MACD histogram . see screenshot: https://www.screencast.com/t/HtKOE0qw3
Please ask me any questions that remain unclear. Thank you once again for asking for clarification.
 
inthefutures

inthefutures

Active member
average of a day, a week a year, 1000 bars, 10 years, saying average is not telling me much
 
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Burr63

New member
i would put in 100 length ...that would tell me if the volumes average is above or below avg and would apply to ATR or daily price range expectancy. Fir sure it is not a 1:1 correlation , ex. if the days average range $20 and volume is 130% above normal it doesn't mean that the stock will move @26 that day but it will tell me i can expect the$20 + some additional range is likely. it is beneficial fir day trading targets or when to take profits or let it run.
 
inthefutures

inthefutures

Active member
Code:
#by inthefutures
declare lower;

input barsback = 100;

def avervol = average(volume,barsback);

def vol = volume;
plot spreads = (((vol /avervol)-1)*100);
spreads.setpaintingStrategy(paintingStrategy.HISTOGRAM);
spreads.assignValueColor(if spreads > spreads[1] then color.GREEN else color.RED);
plot zerobase = 0;
In this plot the histogram plots 100% of the average volume as 0 but the histo does show the true percentage of that average.
 
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Burr63

New member
inthefutures, Thank you very much, it is exactly what I was requesting.
 
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Burr63

New member
Hey thanks again, it proved quite valuable end of day in ES, i caught 20 points ..it quite a nioce tool
 
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Burr63

New member
thanks again for the Vol Profile as a percentage.. Do you know of a TPO or Volume Profile that will allow me to designate a specific time frame vs only Day / week/ month etc ..i would at times want to wrap a balance area itself . for example lets say a particular balance area were from April 9th thru today so I would like the ability to select the start date of the profile. Start date : 4/19/2020 for example thus I could then see the HVN of the balance etc.. hope it is clear , as you know my descriptions are not the best at time s
 
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S

soary

Member
Code:
#by inthefutures
declare lower;

input barsback = 100;

def avervol = average(volume,barsback);

def vol = volume;
plot spreads = (((vol /avervol)-1)*100);
spreads.setpaintingStrategy(paintingStrategy.HISTOGRAM);
spreads.assignValueColor(if spreads > spreads[1] then color.GREEN else color.RED);
plot zerobase = 0;
In this plot the histogram plots 100% of the average volume as 0 but the histo does show the true percentage of that average.
Nice, could you post the script for result of it - plot spreads = (((vol /avervol)-1)*100); to go in a label instead of a plot. Thanks
 
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