OnBalanceVolume showing wrong values in watchlist

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Hi Pete. If I add OnBalanceVolume to my watchlist as a column to see values it is not showing the results accurately which I need. I am pretty certain it is because of the timeframe.

Example, look up any ticker and use the chart timeframe with TODAY as the custom “Time Interval and the “Aggregation Period” as 1 minute then it starts to calculate OnBalanceVolume starting from zero only for the start of today (early morning) and then it calculates OnbalanceVolume either up or down from that early morning zero point for TODAY . This is exactly what values I would like to see in my Custom Column.

So the magic question, how do I tell my custom quote script to calculate only using “TODAY” as the “Time interval” for zero point to show my 1 minute OnBalanceVolume values? 🙂

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Posted by (Questions: 3, Answers: 4)
Asked on December 14, 2020 3:16 pm
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Here is how you can see the actual difference; if you pull up any chart and any ticker and set Aggregation Period 1 minute (with ext hours) and set the custom Time Interval as "TODAY" and then add the OnBalanceVolume Indicator study to your chart and see the value it gives. Keep note of that value.. Now do the exact same thing with the same ticker using the same Aggregation Period 1 minute (with ext hours) but set the "Time Interval" to "1 Day' instead of "TODAY" and then look at your OnBalanceVolume study. You will see the difference of the value I am talking about compared to using the "TODAY" Time Interval where it starts out your OnBalanceVolume at zero for today... Hope that helps clarify.
( at December 14, 2020 3:18 pm)
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OnBalanceVolume uses a function named "TotalSum". This computes a value based on all of the viewable data on the chart. Increase or decrease the viewable data on the chart and the values of this chart study will change. Which means it is completely impossible to get the values for this study to match between charts and any other tool on Thinkorswim. Why? Because there is no way to get the amount of viewable data on the chart to match what is used on any of the other tools on the platform. This applies to watchlist columns, scan, study alerts and condition orders.

There is no way to work around this issue except to use a chart study that does not use this type of function for it's computations.

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Posted by (Questions: 37, Answers: 4118)
Answered on December 14, 2020 8:00 pm
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