Suspicious Volume Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
This indicator helps to identify suspicious volume.

The ratio of the current volume to the average of several previous candlesticks has been defined as standardized between 0 and 100.
When the volume line goes above 70 or below 30, we can assume that the trading volume is abnormal.



thinkScript Code

Code:
# Suspicious Volume
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/EskEEMKW-Suspicious-Volume/

declare lower;

def Totlavol = volume;
input Ma_period = 10;
input highVol = 70;
input lowVol = 30;

def smaVol = simpleMovingAvg(Totlavol, Ma_period);
def volnow = volume[0];
def SVolume_index = (volnow / smaVol);
def sv_index = (100 - (100 / (1 + SVolume_index)));

plot h_vol = highVol;
plot l_vol = lowVol;

plot line = sv_index;
 
Last edited:
Birdie

Birdie

New member
2019 Donor
Warehouse
I think I'll incorporate this one into my swings that I buy EOD
 
A

alphabeta

New member
Warehouse
This indicator helps to identify suspicious volume.



When the volume line goes above 70 or below 30, we can assume that the trading volume is abnormal.



thinkScript Code

Code:
# Suspicious Volume
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/EskEEMKW-Suspicious-Volume/

declare lower;

def Totlavol = volume;
input Ma_period = 10;
input highVol = 70;
input lowVol = 30;

def smaVol = simpleMovingAvg(Totlavol, Ma_period);
def volnow = volume[0];
def SVolume_index = (volnow / smaVol);
def sv_index = (100 - (100 / (1 + SVolume_index)));

plot h_vol = highVol;
plot l_vol = lowVol;

plot line = sv_index;
thank you for sharing
is it possible to place alert when it goes above 70 it woluld be very helpful if possible
 
T

tomsk

Well-known member
VIP
thank you for sharing
is it possible to place alert when it goes above 70 it woluld be very helpful if possible

@alphabeta Yep, all you need to do is to add the following line to the end of the study and you'll be all set for that alert

Code:
Alert(sv_index crosses above highVol, "Crosses above 70 threshold", Alert.BAR, Sound.Ring);
 
A

alphabeta

New member
Warehouse
@alphabeta Yep, all you need to do is to add the following line to the end of the study and you'll be all set for that alert

Code:
Alert(sv_index crosses above highVol, "Crosses above 70 threshold", Alert.BAR, Sound.Ring);
thank you so much!!!!!!
 
W

Wright1

New member
VIP
Hey new member here! 😁 Do the 30 and 70 levels indicate buying and selling or are they just general?
 
BenTen

BenTen

Administrative
Staff
VIP
@Wright1 When the volume line goes above 70 or below 30, we can assume that the trading volume is abnormal.
 

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