RE: If I can stay awake.... part 3

[Bob Perry <bobperry@xxxxxxxxxxx>]

**BP Vol_Intra%Avg2 - indicator

In subgraph two, scale to screen.

If "AsSpread" = False:
Plot1: cyan/magenta = today's current volume as percentage of N day
average of NASDAQ+NYSE volume.
Plot2: off.
Plot3: Yellow line = 0% line.
Plot4: red line = user specified "cut-off" line.

If "AsSpread" = True:
Plot1: off
Plot2: cyan/magenta = (today's current volume) - (N day average of
NASDAQ+NYSE volume) .
Plot3: Yellow line = 0 line.
Plot4: red line = user specified "cut-off" line.

This indicator let's you compare, even in the first couple of bars of
the day, if the volume is less than or more than the average.
You can rewrite this to cover more days back by changing the "10" in the
array.  It's interesting to see how things have been going for a month
or so.  It lets you see how often there is adequate volume to justify
intraday momentum plays (to give enough follow through).  I usually love
a day when both the Nyse and Nasdaq are both above the 0% line on their
individual charts and on the combined chart.  Days when both are above
the -10% are just barely ok.  Below -10% and it's generally the floor
traders making the money.  Sometimes one market will be right at the
average and the other market is way below - it can get pretty choppy. 
It's a good idea to play around and do some research to find where you
are comfortable and your methods work the best.  When the volume is
"up", my signals work great and it gives me confidence to trade more
contracts.  When volume is mediocre I am cautious and will get out
quickly on 1 - 3 lots.  When the volume sucks, so does my trading, time
to not trade or the only one who makes money is my broker.


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{Bob Perry 2/01,5/01
only use with time bar charts
futures have 405 minutes, indexes only have 390 minutes
Data1 = $VOLQE - NASDAQ Total Volume
Data2 = $VOLU - NYSE Total Volume	}
{-----  If you are using just one data stream: "High Data1 + High Data2"
can be replaced with "High"  -----}

Inputs:	DaysBak (9),
		MinLevel(-10),
		ColorOn(True),
		AsSpread(False);
Vars:	BSS (0),	{BSS = BarsSinceStart of Day}
		Daycount(0),
		Barcount(0),
		Sum(0);
Arrays:	Volume10Day[ {405}78, 10 ](0) ;	{two dimensional array set up
for 5 minute bars}

BSS = Round((TimeToMinutes(time) -
TimeToMinutes(Sess1StartTime))/BarInterval,0);

If date <> date[1] then begin
	for daycount = DaysBak downto 1 begin
		for barcount = 1 to 81 begin
			Volume10Day[ Barcount, Daycount ] = Volume10Day[ Barcount, Daycount-1
];
		End;
	End;

	for barcount = 1 to 81 begin
		Sum = 0;
		For Daycount = 1 to DaysBak begin
			Sum = Sum + Volume10Day[ BarCount, Daycount ];
		End;
		Volume10Day[ Barcount, 0 ] = Sum/DaysBak;
	End;
End;
If Currentbar >= DaysBak * Round(( TimeToMinutes(Sess1EndTime) -
TimeToMinutes(Sess1StartTime) )/BarInterval, 0 ) then begin
	If AsSpread = False then Begin
		Value2 = 100*(( High Data1 + High Data2 ) - Volume10Day[ BSS, 0
])/Volume10Day[ BSS, 0 ] ;
		If ColorOn = True then Begin
			if Value2 > Value2[1] then SetPlotColor[1](1,cyan);
			if Value2 < Value2[1] then SetPlotColor[1](1,magenta);
		End;

		Plot1( Value2, "%AvgVol");		{color:light
gray,type:line,style:1,weight:1}
	End;
	If AsSpread = True then Begin
		Value2 = (( High Data1 + High Data2 ) - Volume10Day[ BSS, 0 ]) ;
		If ColorOn = True then Begin
			if Value2 > Value2[1] then SetPlotColor(2,cyan);
			if Value2 < Value2[1] then SetPlotColor(2,magenta);
		End;
		Plot2( Value2, "DiffAvgVol" );	{color:light
gray,type:line,style:1,weight:1}
	End;
	Plot3( 0, "zero" );					{color:yellow,type:line,style:3,weight:1}
	If MinLevel <> 0 then begin
		Plot4( MinLevel, "Min%Level" );
{color:red,type:point,style:1,weight:1}
	End;

End;

If BSS = 1 then Value1 = ( High Data1 + High Data2 )
	Else Value1 = MaxList( Value1, ( High Data1 + High Data2 ));

Volume10Day[ BSS, 0 ] = Value1;

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Bob Perry
San Jose, CA

Attachment: Description: "INTRA%AVG2.ELA"