The 3.14 Volume Spike is a basic calculation that takes an average of volume and filters for spikes that exceed the average by a factor of 3.14. This gives the user a simple, objective measure for abnormal volume and can be used to identify where price may be experiencing exhaustive volume or to highlight small-range bars that pass under the radar at first-glance but nevertheless represent key densely traded spots on the chart.
To load the Volume Spike indicator into a chart:
•Right-click in your chart and select the Insert Study option from the pop-up menu.
Chart Menu
•The Insert Study dialog will be displayed. Click on the Add-on Studies tab.
Insert Study dialog
•Then scroll down until you find the Harmonic Pattern Collection folder. Double-click on the folder to open it. Then click on the HT_VolumeSpike.efs indicator to select it, click on the Apply button, and then click on the Close button to close the dialog.The indicator will now be loaded in your chart.
•Once the indicator has been loaded into a chart, you can access the parameters dialog by by right-clicking in the indicator pane of the chart and selecting the Edit Chart option from the pop-up menu. The parameters dialog (called Edit Chart) will be displayed:
•Make your edits/changes and then click on the Close button at the bottom-right of the dialog to close the parameters dialog and return to the chart. See the Settings section for a complete description of all of the available parameters.
See Also:
