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Hi all,
I have created this volume % indicator based on the 5min but how do I
make it work for 1, 10, 15, 20, 30, 60, 90, 180, 240 min, etc?
Basically it compares the volume of each bar to the 30 day average volume as a fraction of the bar that is being studied.
For example,
x = 5min
Last 5min volume / [ ( 30 Day average volume * x ) / (6.5*60) ]
TimeFrameSet (inDaily) ;
EMAV30 = EMA ( V, 30 ) ;
TimeFrameRestore () ;
EMAV30_Day = TimeFrameExpand ( EMAV30, inDaily ) ;
EMAV30_Day_5min = ( EMAV30_Day * 5 ) / (6.5 * 60) ;
sumavgvol = V / EMAV30_Day_5min ;
Sumavgvol1 = ( Sumavgvol - 1 ) * 100 ;
Plot ( abs (Sumavgvol1), _DEFAULT_NAME(), IIf (sumavgvol1 > 0,
ParamColor ("Above Avg", colorGreen), ParamColor ("Below Avg",
colorRed)), ParamStyle ( "style", styleHistogram | styleThick,
maskHistogram ) );
I would also like to create another volume filter that will give me a cumulative % vs the average.
Say I want find the % volume at 10 am vs the average:
last 30min volume / ( EMAV30_Day * 30 ) / (6.5 * 60) ;
Or at 12 pm
last 180min volume / ( ( EMAV30_Day * 90 ) / (6.5 * 60) ;
I would appreciate your help
Thanks
Tony
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