Hi Bruce,

I was originally told that institutions had to report their volume after the end of the trading day.  But, now I 've been told that institutions do have up to 24 hours to report their volume.

Either way, institutional volume, which is much greater than retail volume, doesn't show on the Volume Bars we see on our charts each day.

This institutional volume is known as "Dark Pool" volume.

My purpose in identifying Dark Pool volume is that it leaves footprints as to the price at which institutions are purchasing positions.  So, I can place a limit order near the same price that institutions are accumulating shares.

Thus, I'd like to identify volume in the Dark Pool that exceeds previous volume (Average Volume?  Volume the Previous Day?).

Let's use JDST in which there's been a lot of Dark Pool volume for a long time -- probably since April 2016 (see below).

I've been experimenting with ways to code an indicator for this.  One way I've come up with is below:

GREATEST(V3,V2)>=AvgV252.1*3

I can use these columns to identify which day the Dark Pool occurs:

V2>=AvgV252.1*3

V3>=Avg V252.1*3

What leaves me in doubt as to my approach is this.  When I "Add Plot Custom PCF Indicator" and overlay AvgV252.1 over my plot for Volume Bars, it shows a steady increase in volume since April 2016.

However, a volume bar identified on my column doesn't appear to be equal or greater than the AvgV252.1 line.

I am thinking this is because, TC2000 doesn't allow one to "Add Plot", then "Custom PCF Indicator", then Scale With Volume".  Is this the issue that distorts the fact "a volume bar identified on my column doesn't appear to be equal or greater than the AvgV252.1 line".

Or, is my Custom PCF % True Indicator below the issue?

GREATEST(V3,V2)>=AvgV252.1*3

Thanks for your feedback on this issue,

traderlady

Make sure you are choosing the & Scale With option when overlaying the Custom PCF Indicator onto the Volume Bars. Everything seems to all line up and match for me.

I have plotted both an AvgV252.1 and an AvgV252.1*3 in the same pane and scale as volume. And everything seems to match up.

Keep in mind that the volume of 2 or 3 bars ago would not necessarily be above the AvgV252.1*3 plotted 2 or 3 bars ago but above the current value of the AvgV252.1*3 line.

Pleae explain how to choose the "& Scale".

Add the Volume indicator to the chart.

Add the Custom PCF Indicator to the same chart by clicking Add Plot to Chart at the top of the chart.

Adjust the settings of the Custom PCF Indicator to use the desired Formula.

Now click on the Move icon to the left of the name of the Formula. There should be an Overlay & Scale With button on top of the Volume indicator with a line between Overlay | & Scale With. Click on the & Scale with section below line.

Now I see the "& Scale".  Thanks!

Traderady maybe  could u please explain something for me, what is the difference between V2 & V3 - was that a typo? Should it have been V252.2 and V252.3.

1. GREATEST(V3,V2)>=AvgV252.1*3

I can use these columns to identify which day the Dark Pool occurs:

V2>=AvgV252.1*3

V3>=Avg V252.1*3

thanks

V2 is the volume of 2 bars ago.

V3 is the volume of 3 bars ago.

The formulas are used to determine which of the 2 bars had the high volume.

Thanks Bruce Senility struck again..... :-)

Hi traderlady, thank-you for your post on dark pools.  The only suitable sources for dark pool data I’ve heard of are Lightspeed and Schwab.

https://www.youtube.com/watch?v=NzNDjWDZETw&feature=youtu.be&t=192