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Hi all,
I really like the idea of using turnover in conjunction with volume.
The reason I like turnover is because it can often show the level of
interest in a stock a bit more accurately than volume especially if
the price is going up. If the share price is increasing the volume
can decrease even tho the market is showing the same or more
interest in the stock. However, if turnover is maintaining or
increasing with the rising share price this can give a more accurate
indication than level of volume (which imo is only really helpful
for determining liquidity). There are other applications but I'll
get to the point ...
I reaslise that AB's turnover formula is 2 x Vol x closing price.
After that ramble I have a few questions:
1. Is this formula based on anything in particular, or is it the
best way to attempt to indicate actual turnover.
2. Are there any data providers that provide actual daily
dollar "turnover"? (I use AOT (now Comsec) and could manually input
dollar turnover ("value" traded), but only for a few stocks that I'm
watching.)
3. If so, could AB handle this in a formula / indicator? Could it
replace the current turnover indicator and overlay the price chart?
Hope all this makes sense.
Thanks / cheers
Ian
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