Suspicious Volume Indicator for ThinkorSwim

[BenTen]

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

# 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;

 

[alphabeta]

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

# 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

 

[tomsk]

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

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

 

[Wright1]

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

 

[BenTen]

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