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Date/Time: Fri, 27 Dec 2024 11:56:49 +0000
Post From: Relative Volume Index
| [2014-08-28 19:20:57] |
| Marmany - Posts: 307 |
|
I trade futures and am interested in current day volume vs volume at same time on previous day (Cd) and total volume for previous day vs 2 days back (Pd). Then calculate Tvol = Cd X Pd / 100. General rule for non-rollover days is if Tvol > 150% market is accelerating and likely to yield profitable trending moves. If Tvol < 80% market is decelerating, unlikely to yield profitable trending moves but highly susceptible to erratic mean reversions. Very useful for comparing different commodities to select best candidate for day trading with trending strategies. I have put attached ACSIL together, using elements from various other published programs. I work with tick charts but program should display Tvol on any intra day chart (turn On in Study Settings). Set charts up to not load Weekend Data. Volume is taken from intraday charts and will differ from end of day data for reasons published in Sierra Documentation. From my analysis this does not significantly affect the effectiveness of Tvol as an indicator. |
 TotalRelativeVolume.cpp - Attached On 2014-08-28 18:37:26 UTC - Size: 5.36 KB - 716 views Attachment Deleted. |