Volume Spikes Scan For ThinkOrSwim

[rip78]

Greetings. I recently found a stock scanner for volume spikes. Thought that I would share the scanner.

mod note:

In day trading, volume spikes are useful because they show a jump in market activity. This can help traders spot breakouts, catch trend changes, and get in or out of trades more accurately.

# RCG3:  Unusual volume

input price = volume;
input choice = {default increased, decreased};
input percent = 20;
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;
}

#end

For Scan : http://tos.mx/!pVrDmnVt

Read more how I use this scanner with the Slingshot Strategy:
https://usethinkscript.com/threads/...ones-setup-for-thinkorswim.20072/#post-155228