Unusual Volume For ThinkOrSwim

[KCLLive]

Simple script modification that helps me to confirm when a trend is broken. All it does is paint candles dark red or dark green if volume is 3x average. If you see anything wrong with the code please point it out thank you.

https://ibb.co/p2dmnFL - for an example on TSLA, I made good money trading puts off that broken trend.

#
# TD Ameritrade IP Company, Inc. (c) 2007-2021
# Modified VolumeAvg to paint candlesticks that are 3x the average volume.
# Make sure you put this in the Volume section of studies

declare lower;
declare zerobase;

input length = 50;

def AvgVol = Average(volume * 3);

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));

AssignPriceColor(if close > close[1] AND volume > AvgVol then color.DARK_GREEN else color.current);
AssignPriceColor(if close < close[1] AND volume > AvgVol then color.DARK_RED else color.current);

https://imgur.com/a/JHG8Dd3

 

[rad14733]

@KCLLive After more careful inspection I can see the slightly darker candle... Between the small size and minimal color differentiation it was tough to notice...

 

[KCLLive]

@KCLLive After more careful inspection I can see the slightly darker candle... Between the small size and minimal color differentiation it was tough to notice...

Simple solution. I kept it easy for my eyes, I don’t like the bright neon colors for highlighting that others like. But you can change it as you see fit if you decide to use it just change DARK_RED or DARK_GREEN to the color of your choosing in the last two lines.

AssignPriceColor(if close < close[1] AND volume > AvgVol then color.DARK_RED else color.current);

 

[eatingwagyu]

I would like to convert this code into a study to find volume greater than 300%, preferably with a column that can display what percent has changed as well. below is the code for the script:






# CustVolumeStudy by 7of9 for BRT

declare lower;

#Inputs

input Show30DayAvg = yes;
input ShowTodayVolume = yes;
input ShowPercentOf30DayAvg = yes;
input UnusualVolumePercent = 200;
input Show30BarAvg = yes;
input ShowCurrentBar = yes;
input ShowPercentOf30BarAvg = yes;
input ShowSellVolumePercent = yes;

def O = open;
def H = high;
def C = close;
def L = low;
def V = volume;
def buying = V*(C-L)/(H-L);
def selling = V*(H-C)/(H-L);

# Selling Volume

Plot SellVol = selling;
SellVol.setPaintingStrategy(PaintingStrategy.Histogram);
SellVol.SetDefaultColor(Color.Red);
SellVol.HideTitle();
SellVol.HideBubble();
SellVol.SetLineWeight(5);

# Total Volume

Plot BuyVol = volume;
BuyVol.setPaintingStrategy(PaintingStrategy.Histogram);
BuyVol.SetDefaultColor(Color.Dark_Green);
BuyVol.HideTitle();
BuyVol.HideBubble();
BuyVol.SetLineWeight(5);

#Volume Data

def volLast30DayAvg = (volume(period = "DAY")[1] + volume(period = "DAY")[2] + volume(period = "DAY")[3] + volume(period = "DAY")[4] + volume(period = "DAY")[5] + volume(period = "DAY")[6] + volume(period = "DAY")[7] + volume(period = "DAY")[8] + volume(period = "DAY")[9] + volume(period = "DAY")[10] + volume(period = "DAY")[11] + volume(period = "DAY")[12] + volume(period = "DAY")[13] + volume(period = "DAY")[14] + volume(period = "DAY")[15] + volume(period = "DAY")[16] + volume(period = "DAY")[17] + volume(period = "DAY")[18] + volume(period = "DAY")[19] + volume(period = "DAY")[20] + volume(period = "DAY")[21] + volume(period = "DAY")[22] + volume(period = "DAY")[23] + volume(period = "DAY")[24] + volume(period = "DAY")[25] + volume(period = "DAY")[26] + volume(period = "DAY")[27] + volume(period = "DAY")[28] + volume(period = "DAY")[29] + volume(period = "DAY")[30]) / 30;
def today = volume(period = "DAY");
def percentOf30Day = Round((today / volLast30DayAvg) * 100, 0);
def avg30Bars = (volume[1] + volume[2] + volume[3] + volume[4] + volume[5] + volume[6] + volume[7] + volume[8] + volume[9] + volume[10] + volume[11] + volume[12] + volume[13] + volume[14] + volume[15] + volume[16] + volume[17] + volume[18] + volume[19] + volume[20] + volume[21] + volume[22] + volume[23] + volume[24] + volume[25] + volume[26] + volume[27] + volume[28] + volume[29] + volume[30]) / 30;
def curVolume = volume;
def percentOf30Bar = Round((curVolume / avg30Bars) * 100, 0);
def SellVolPercent = Round((Selling / Volume) * 100, 0);

# Labels

AddLabel(Show30DayAvg, "Avg 30 Days: " + Round(volLast30DayAvg, 0), Color.LIGHT_GRAY);

AddLabel(ShowTodayVolume, "Today: " + today, (if percentOf30Day >= UnusualVolumePercent then Color.GREEN else if percentOf30Day >= 100 then Color.ORANGE else Color.LIGHT_GRAY));

AddLabel(ShowPercentOf30DayAvg, percentOf30Day + "%", (if percentOf30Day >= UnusualVolumePercent then Color.GREEN else if percentOf30Day >= 100 then Color.ORANGE else Color.WHITE) );

AddLabel(Show30BarAvg, "Avg 30 Bars: " + Round(avg30Bars, 0), Color.LIGHT_GRAY);

AddLabel(ShowCurrentBar, "Cur Bar: " + curVolume, (if percentOf30Bar >= UnusualVolumePercent then Color.GREEN else if PercentOf30Bar >= 100 then Color.ORANGE else Color.LIGHT_GRAY));

AddLabel(ShowPercentOf30BarAvg, PercentOf30Bar + "%", (if PercentOf30Bar >= UnusualVolumePercent then Color.GREEN else if PercentOf30Bar >= 100 then Color.ORANGE else Color.WHITE) );

AddLabel(ShowSellVolumePercent, "Cur Bar Sell %: " + SellVolPercent, (if SellVolPercent > 51 then Color.RED else if SellVolPercent < 49 then Color.GREEN else Color.ORANGE));

input length = 50;

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));

 

[Slippage]

For scanning, this script is more complex than you need and does a lot of extra calculations that will be unused, making it inefficient and slower to run. If you want to scan for 300% above 30 day average volume, TOS has a built in filter for that and you don't need any custom code.

 

[wefewfewfew]

Unusual Volume near 52 weeks high scanner: https://tos.mx/qksBhga

1. Near 52 week high indicates strength
2. Unusual volume indicates current interest at peak
3. Sorting on Zscore or DMI oscillator --> intraday strength
4. Sustained momentum --> Daily and weekly RSI >60
5. Green on E1, E5, E15, E30, E4h --> strength
6. Chart Observations -> REGN is a good candidate at this time
7. Only possibility, it can change any time

My ThinkorSwim workspace: https://tos.mx/aIZeT6k

The basic concept of Z-Score is that it’s an oscillator denominated in standard deviations from the VWAP mean.

I am a new trader, how do i save your thinkorswim workspace to my chart. just cannot seem to do it. anyone can help?

 

[MerryDay]

@Technicalyst93 Click here for --> Easiest way to load shared links

 

[CJ_brt]

@Technicalyst93 Click here for --> Easiest way to load shared links

are you able to get his workspace properly loaded? i cant seem to get most of the studies to properly load, especially the watchlist. Appreciate the help!

 

[MerryDay]

@CJ_brt This is not a workspace or a watchlist. The shared link Is a SCANNER.
Unusual Volume near 52 weeks high scanner: https://tos.mx/qksBhga Click here for --> Easiest way to load shared links

 

[stamenski]

Thank you. TOS, shows this with the Options Hacker icon...Is this Options Scanner?

@CJ_brt This is not a workspace or a watchlist. The shared link Is a SCANNER.
Unusual Volume near 52 weeks high scanner: https://tos.mx/qksBhga Click here for --> Easiest way to load shared l

 

[MerryDay]

@stamenski I went through all four pages and did not see an instance of any posters using this an option scanner.
But I switched it over to options and it did find results.

 

[KevinSammy]

Hello,

As many of you know, we can enable volume to be displayed as an overlap in the upper part of the chart.
I like doing this because it allows me to compare volume easily while simultaneously looking at the chart/candles. I used to have volume in the lower sections, but found that I wasn't using it well because I was too focused on the chart.

The one thing, however, that I liked about having volume in the lower section was that it showed the average volume for one's desired timeframe as a horizontal line across the volume bars. This was nice because of the additional analysis it provided.

My question is whether anyone knows how to display the average volume (per one's desired tim frame) as a horizontal line on the upper, overlap volume bars?

Thank you!

 

[TradeUp]

Hello,

As many of you know, we can enable volume to be displayed as an overlap in the upper part of the chart.
I like doing this because it allows me to compare volume easily while simultaneously looking at the chart/candles. I used to have volume in the lower sections, but found that I wasn't using it well because I was too focused on the chart.

The one thing, however, that I liked about having volume in the lower section was that it showed the average volume for one's desired timeframe as a horizontal line across the volume bars. This was nice because of the additional analysis it provided.

My question is whether anyone knows how to display the average volume (per one's desired tim frame) as a horizontal line on the upper, overlap volume bars?

Thank you!

@KevinSammy , I found this nice little code on this forum that I am using. Check it out, it might be something similar to what you are asking for. It paints the candles that have 2x volume. You might find it useful.

#
# TD Ameritrade IP Company, Inc. (c) 2007-2021
# Modified VolumeAvg to paint candlesticks that are 3x the average volume.
# Make sure you put this in the Volume section of studies

declare lower;
declare zerobase;

input length = 50;

def AvgVol = Average(volume * 2);

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));

AssignPriceColor(if close > close[1] AND volume > AvgVol then color.White else color.current);
AssignPriceColor(if close < close[1] AND volume > AvgVol then color. Magenta else color.current);

 

[TradeUp]

Simple script modification that helps me to confirm when a trend is broken. All it does is paint candles dark red or dark green if volume is 3x average. If you see anything wrong with the code please point it out thank you.

https://ibb.co/p2dmnFL - for an example on TSLA, I made good money trading puts off that broken trend.

#
# TD Ameritrade IP Company, Inc. (c) 2007-2021
# Modified VolumeAvg to paint candlesticks that are 3x the average volume.
# Make sure you put this in the Volume section of studies

declare lower;
declare zerobase;

input length = 50;

def AvgVol = Average(volume * 3);

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));

AssignPriceColor(if close > close[1] AND volume > AvgVol then color.DARK_GREEN else color.current);
AssignPriceColor(if close < close[1] AND volume > AvgVol then color.DARK_RED else color.current);

https://imgur.com/a/JHG8Dd3

I really like this indicator but Instead of changing the color of the candles can someone help me add arrows instead? Please.

 

[MerryDay]

I really like this indicator but Instead of changing the color of the candles can someone help me add arrows instead? Please.

#
# TD Ameritrade IP Company, Inc. (c) 2007-2021
# Modified VolumeAvg to paint candlesticks that are 3x the average volume.
# Make sure you put this in the Volume section of studies

declare lower;
declare zerobase;

input length = 50;

def AvgVol = Average(volume * 3);

plot Vol = volume;
plot VolAvg = Average(volume, length);

Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));

#AssignPriceColor(if close > close[1] AND volume > AvgVol then color.DARK_GREEN else color.current);
#AssignPriceColor(if close < close[1] AND volume > AvgVol then color.DARK_RED else color.current);

plot UpArrow= if close > close[1] AND volume > AvgVol then low else double.NaN ;
UpArrow.SetPaintingStrategy(PaintingStrategy.ARROW_up);
UpArrow.SetDefaultColor(color.blue) ;
UpArrow.SetLineWeight(1);

plot DnArrow = if  close < close[1] AND volume > AvgVol  then high else double.NaN ;
DnArrow .SetPaintingStrategy(PaintingStrategy.ARROW_down);
DnArrow .SetDefaultColor(color.magenta) ;
DnArrow .SetLineWeight(1);

 

[richlabz]

@crawford5002

AssignBackgroundColor( if percentOf30Bar >=200 then color.Dark_GREEN else  if percentOf30Bar >= 100 then color.yellow else  if percentOf30Bar < 100 then color.red else color.black);

Any way to add an alert to this? if >=200?, i just tried but my coding skills are still new

 

[MerryDay]

Any way to add an alert to this? if >=200?, i just tried but my coding skills are still new

Alert(percentOf30Bar >=200, ">=200", Alert.Bar, Sound.Chimes);

 

[richlabz]

Alert(percentOf30Bar >=200, ">=200", Alert.Bar, Sound.Chimes);

Thank you, it doesn't seem to work. Is this because its in the watchlist? Ive never used an alarm within a watchlist before.

 

[MerryDay]

Thank you, it doesn't seem to work. Is this because its in the watchlist? Ive never used an alarm within a watchlist before.

Can't use an alarm in a watchlist.
Read more here: https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-58010

 

[ZachA]

Great...but is this an actual RELATIVE scan? For example...does it compare 1pm on Thursday to the last 20 1pm bars going back Wed Tues Monday etc...

All volume indicators don't say much unless they can actually compare last 20 "hour to hour" (not last 20 hours). Most morning opening hours are inflated as well as closing hours.

Did you ever find something for this? This is exactly what im looking for. There is one in Trading View that has been helpful, but TV doesn't capture all volume. I would like one for TOS. Any luck?

@toncuz I thought that this was covered before but just in case, here goes:

Can you cite a CMT that agrees with your point of view? JC Parets doesn't even use volume on his charts. That doesn't make him right, but with a large corporate clientele and 55,000 twitter followers I'd say people listen to him.

I don't know of any trading platform that offers volume as you describe it, please correct me. Most do have VWAP. You might want to look at VWAP. VWAP is used by day traders and swing traders and it taught in order to pass the CMT exam. A wise mathematician told me and others many times that each day, for day traders, it is a coin flip. Relative volume will tell you little to nothing because comparing 1pm today from 1pm last week Wednesday each have distinct news events and institutional rotation among a host of other items. Just because volume is higher or lower doesn't tell anyone if a stock is being accumulated or not. I could be short sellers covering.

You might want to look at VWAP. VWAP is used by day traders and swing traders and it taught in order to pass the CMT exam. In the end, you are free to have your own ideas. I just can't see this one having credence. Have a good holiday.

Trading View Has this indicator. However I would like one for TOS. VWAP is fine IMO. However, with what he is talking about will actually give more insite into if VWAP could potentially hold or not.