Support Board
Date/Time: Wed, 27 Nov 2024 16:46:33 +0000
Relative Volume Based on recent bars and not days
View Count: 2970
| [2021-12-30 16:47:43] |
| User8135477 - Posts: 115 |
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Hi, I'd like to change my Relative Volume study settings to reflect the changes based on the past few bars (for eg. on a 1-min chart, based on the past 5 minutes). However, there is only the option to set the relative volume calculation based on the past few days. Is there a way to change this, or a different study available?
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| [2021-12-30 17:05:51] |
| Tony - Posts: 519 |
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Relative Volume it says: "The number of previous bars used in the average calculation is controlled by the Period - Days to Include Input.", it seems like if you would use 1-min chart, then 5 previous bars is used to calculate, that would be 5 minutes. |
| [2021-12-30 17:12:22] |
| User8135477 - Posts: 115 |
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it says: "The number of previous bars used in the average calculation is controlled by the Period - Days to Include Input.", it seems like if you would use 1-min chart, then 5 previous bars is used to calculate, that would be 5 minutes.
I don't think that is a correct interpretation if you continue to read the description. I've copied the relevant part below: For each chart bar, the bar volume is expressed as a percentage of the average volume for previous bars with the same starting time. For example, the 9:30:00 bar for the current day is compared against the average of the previous 9:30:00 bars. The number of previous bars used in the average calculation is controlled by the Period - Days to Include Input.
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| [2021-12-31 14:55:24] |
| John - SC Support - Posts: 36322 |
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What exactly do you want to accomplish? What is the final outcome of information you are looking for? Once we know this, then we can point you in the right direction. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-12-31 19:09:05] |
| User8135477 - Posts: 115 |
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Thanks John. I've listed my parameters below: i) I will be using this on different charts with their own time frames. For example, 1-minute & 5-minute chart ii) compare the last 2 volume bars to the last 5 volume bars iii) if there is a 50% increase between the 2 comparisons, then have the volume bar turn a different color. |
| [2021-12-31 19:34:07] |
| John - SC Support - Posts: 36322 |
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You would want to use the Color Bar Based on Alert condition and given the relatively simple calculation, you can just do everything in the alert condition. So you would have an alert condition that would be the following: = (V[0] + V[-1]) / (V[0] + V[-1] + V[-2] + V[-3] + V[-4]) >= 0.5 Although we are not sure which way you want to do the calculation, so you may need to flip the order of the two sums. And we are also not sure if the ratio of the two being .5 is exactly what you want, but you can adjust as necessary. If this were more complicated, then you might want to use the Spreadsheet Study to be able to sum the volumes you want. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-12-31 20:03:42] |
| User8135477 - Posts: 115 |
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Does the study need to be in its own separate Chart Region, or should it be underlying the volume bar Region? Do I need to make any changes under Settings and Inputs? I don't expect to make it any more complicated than what I described above with the 50% threshold. However, I'm currently not able to implement the study with your last instructions. Perhaps having the questions in this post answered may hep. |
| [2021-12-31 20:34:13] |
| John - SC Support - Posts: 36322 |
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Here is a Study Collection that does what we specified above. Adjust this as needed. Refer to the following for how to use a Study Collection provided by Sierra Chart: Study Collections: Using a Study Collection Provided by Sierra Chart Support For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
 ColorVolume2x5.StdyCollct - Attached On 2021-12-31 20:34:08 UTC - Size: 31.41 KB - 212 views |
| [2023-01-06 05:43:17] |
| Trade Dojo - Posts: 45 |
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I understand that this is an old question but it does not have the answer yet. I tried the ColorVolume Study Collection but it does not have what I need. I'm using Volume-based candle chart, let's say 5000. However, I'm looking for a way to have an output to a label (I know how to do this part) of the last 5-minute volume compare to the last 5 x 5-minute bars in term of %. For instance, SMA(5x5-min vol) = x, and the latest 5-min vol = y, I'd like to see what y * 100.0/x = value on a label on my 5000-volume candle chart. I hope I made myself clear. I thought about a simple 5-minute candle chart for this purpose and link the value to my 5K candle chart. If that's possible, could you guys help me on this? |
| [2023-01-06 15:28:24] |
| John - SC Support - Posts: 36322 |
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In general your idea of using a 5 minute chart and then getting the information you need from that chart and overlaying it to the 5K candle chart is the way to do this. But, we do not really understand what you want to accomplish. 5 5-minute bars gives you 5 minutes worth of data. And then you want to somehow compare that against the latest 5 minutes of data, which is the exact same information. Additionally, if you are wanting to get the last 5 minutes of data from the 5k Volume chart, then there is not really a way to do this as you can only get the information for the total bar, and since the 5k Volume is not a time based chart, you would have to go to the nearest 5 minute increment where a bar started, but this could be very far from a 5 minute period. Let us know if we are missing something in what you are wanting to do and we can try to point you in the right direction. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-01-13 20:04:08] |
| Trade Dojo - Posts: 45 |
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I got this with study overlay. Thank you for being very responsive and supportive. This totally changes my view about the 1990-ish website look at the very first sign 2 months ago. You guys have the best product in town. |
| [2023-01-13 21:49:12] |
| John - SC Support - Posts: 36322 |
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Thank you for the kind words. We just find it more important to have things that work properly, and as such, we keep some things very simple.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-07-25 17:51:47] |
| awakef - Posts: 66 |
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John there's a way to only have the average volume on the past 14 candles instead of days?
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| [2023-07-25 18:13:59] |
| John - SC Support - Posts: 36322 |
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Although a little lengthy, you can use the Spreadsheet Formula and enter a formula that looks like the following: = (V[0] + V[-1] + V[-2] + V[-3] + V[-4])/5 Where you would have to expand this to the 14 bars you want to include in the average calculation and divide by 14. Refer to the following for the "Spreadsheet Formula": Spreadsheet Formula For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-07-25 18:24:12] |
| awakef - Posts: 66 |
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Thanks John like always 👍
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