Unusual Volume Scanner for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
Here is a scanner that will help you screen for stocks with unusual volume in ThinkorSwim. When a stock suddenly increased or decreased in trading volume, that means it's being traded at an unexpectedly high level and a lot of traders often take advantage of this.

Create a new indicator in ThinkorSwim and import this code. You can add it to your chart but it won't do anything to it. Switch over to the Scan tab and look up the name of your indicator. From there you can scan for stocks that are increasing or decreasing in trading volume. You can also adjust the percentage (%) and length.




thinkScript Code

Code:
# UNUSUALVOLUME
# DREWGRIFFITH15 (C) 2014

input price = volume;
input choice = {default increased, decreased};
input percent = 10;
input length = 50;
def avg = average(price, length)[1];
def chg = 100 * (price/avg -1);
plot scan;

switch (choice) {
case increased:
    scan = chg >= percent;
case decreased:
    scan = chg <= -percent;
}

Shareable Link


Credit
 
markos

markos

Active member
VIP
To augment the above scan, take a look at putting Stock Sizzle and Sizzle Index as 2 columns in the watch list. That way you can compare if the stock volume was also followed by high options activity. Just a thought, cause it's what I use for every scan.
 

Top