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Condition for Volume at this time compare to 21day avg volume Rate this Topic:
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edw168
Posted : Thursday, July 9, 2015 10:29:05 AM
Registered User
Joined: 12/1/2014
Posts: 7

Can you show me how to write a condition for showing Current volume compare to its 21day avg volume at  this time? like to know 1hour into the trading day, how's this hour volume compare to its 21d avg volume. Is ahead or behind and by what % ahead and behind. 

Thanks

Bruce_L
Posted : Thursday, July 9, 2015 11:03:53 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

There is no way to create a automated condition for this in TC2000.

Your best option would be to use Volume Buzz. It is based on comparing current volume to the 100 period moving average of volume ending 1 day ago.

Definition of Volume Buzz

There is no way to change the period from 100 to 21 and it can't be used as an EasyScan Condition however. It can only be used as a WatchList Column and sort.

Writing an Indicator Formula for the percentage that volume is above or below its average can sort of be done, but you would need to have a different formula for each bar of the trading day. In addition, the moving average has to be short enough that it can be calculated within the 500 bars of available data and there is no way to account for the percentage of the bar that has passed so far.

So let us say you were two 30 minute bars into the trading day and you wanted to compare the volume so far in the trading day to the average volume of those two bars during the previous 21 trading days. You could write the Indicator Formula as follows.

100 * (AVGV2 / ((AVGV2.13 + AVGV2.26 + AVGV2.39 + AVGV2.52 + AVGV2.65 + AVGV2.78 + AVGV2.91 + AVGV2.104 + AVGV2.117 + AVGV2.130 + AVGV2.143 + AVGV2.156 + AVGV2.169 + AVGV2.182 + AVGV2.195 + AVGV2.208 + AVGV2.221 + AVGV2.234 + AVGV2.247 + AVGV2.260 + AVGV2.273) / 21) - 1)

But you would be comparing the volume of 1 full bar and 1 partial bar to the average volume of 2 full bars. So it would only be near the end of the bar that it would be reasonably close.

And then when the next bar started forming, you would need to use a new Indicator Formula which would also be off until the end of the bar (but theoretically by a bit less since it would be comparing 2 full bars and 1 partial bar to the average of 3 full bars).

100 * (AVGV3 / ((AVGV3.13 + AVGV3.26 + AVGV3.39 + AVGV3.52 + AVGV3.65 + AVGV3.78 + AVGV3.91 + AVGV3.104 + AVGV3.117 + AVGV3.130 + AVGV3.143 + AVGV3.156 + AVGV3.169 + AVGV3.182 + AVGV3.195 + AVGV3.208 + AVGV3.221 + AVGV3.234 + AVGV3.247 + AVGV3.260 + AVGV3.273) / 21) - 1)

Increase the period too much or decrease the time frame too much and the Indicator Formula is no longer possible at all because it would require more than 500 bars of data to calculate.



-Bruce
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edw168
Posted : Thursday, July 9, 2015 11:26:05 AM
Registered User
Joined: 12/1/2014
Posts: 7

Got it, Thanks for the input

Bruce_L
Posted : Thursday, July 9, 2015 11:27:51 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.



-Bruce
Personal Criteria Formulas
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