Current candle volume Greater then previous candle


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Hello Pete

I had a question on the current bar volume.

I read the previous post on the following link, and the solution that was mentioned.

Volume is greater than VolumeAvg(“Length” = 20).”VolAvg” * 10 within 20 bars

https://www.hahn-tech.com/ans/volume-x-percent-above-average-within-last-x-bars/

I changed the 20 bars to 100 bars in the following pic.

Is there any way in TOS that once the CURRENT BAR volumes goes to lets say 5 times the previous bar volume then show that entry, can it be done in tos.

Thanks.

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Posted by (Questions: 9, Answers: 8)
Asked on January 18, 2021 2:29 pm
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Private answer

That is not the appropriate application of the solution you linked to. When you change it from 10 to 100 you are not comparing the current volume to 100 bars ago. You are saying that within the last 100 bars the code found at least one instance of current volume being greater than average volume times 10.

There is a significant difference between these two statements:

  1. Within the last 100 bars the volume has been greater than the current average time 10
  2. The volume of the current bar is greater than the average volume times 10 from 100 bars ago

The solution you linked to in your question performs item 1.

So let's look at your actual question:

Is there any way in TOS that once the CURRENT BAR volumes goes to lets say 5 times the previous bar volume then show that entry, can it be done in tos.

The solution to that request is as follows:

plot signal = volume > volume[1] * 5;

And this has absolutely no connection to either of the two statements I listed at the top of this answer. Notice in this solution we don't even compute the average volume. Because your statement was to compare current volume to previous volume.

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Posted by (Questions: 37, Answers: 4118)
Answered on January 18, 2021 6:04 pm
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Thanks Pete. That's what i was looking for, but kept getting confused with volumeavg and realtivevolumestdv.
( at January 18, 2021 7:46 pm)