divergence software, inc.
Development & Consulting Services
Product Detail
Avg Volume-At-Bar for TradingView
TradingView indicators will be activated for your TradingView account and no installation is required. eSignal indicators will be delivered to you via email in zip files. Some of the more complex indicators have installer programs. In most cases we will require your eSignal username so that we can set up the entitlement for the indicator(s) you have purchased.
The majority of our indicators are licensed for a one-time fee (i.e., non-recurring). However, we do have some subscription-based products, including marketDirection Monitor, Harmonic Pattern Collection, and S/R Analyst Pro.
Description
The Avg Volume-At-Bar indicator for TradingView provides a different way of looking at volume. Specifically it allows you to compare the volume at the current bar to volume as of the same time on prior days.
For example, if you set the Average Length to 1, then the indicator will display the prior-days volume over the current day's volume based on bar time. So on today's 10:00am bar it would display today's volume at 10:00am and would also display yesterday's volume as it was at 10:00am.
You can set the Average Length (which is measured in Days) from 1 to 5. As mentioned above, if Average Length is 1 then the indicator will simply display the volume from the prior day at that same bar time. If the Average Length is greater than 1 it will create an average and display that instead. So if Average Length is 5 (and assuming we are on the 10:00am bar) it will average the volume at the 10:00am bar over the prior 5 days and display that value.
A Multiplier input is also provided and the value specified will be applied to the calculated average. So, for example, if you set the Average Length to 5 and the Multiplier to 2.5 then the displayed value on each bar will be the 5-day average of the volume at that bar time multiplied by 2.5.
A TradingView alert condition will also be set whenever the current bar volume exceeds the calculated average volume.
The indicator will only operate on intraday minute charts. For 2-min charts and up your can use an Average Length from 1 to 5 days, and for 1-min charts you can only use an Average Length of 1 due to the cpu-intensive nature of the calculation.
Specifications
- Product ID: TV0017
- Study only, no source code provided
- Requires TradingView