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The Average Volume value by default can only be viewed through the Tool Values Window. This has repeatedly been verified to be 100% accurate. We have had some questions about the accuracy of the Average Volume calculation with the Relative Volume study. Set in the Volume Subgraph to Use Input with the Relative Volume study that you want the relative comparisons done with, to the relevant Subgraph of that study.

For complete documentation, refer to Based On.

Set the Based On setting with the Relative Volume study to refer to this other study.

If you want to compare the bar range for a chart bar to prior bars in the chart, then add the Bar Difference study to the chart.

Add the other study to the chart that you want to do comparisons for, to prior bars in the chart.įor example, if you want to compare the Number of Trades per chart bar to prior bars in the chart, then add the Number of Trades study to the chart.

Refer to the Adding/Modifying Chart Studies section for instructions.

Add the Relative Volume study to the chart.

Follow the instructions below to accomplish this. For these other types of relative comparisons generally you would mainly want to refer to the Relative Volume Subgraph. For example, you can do comparisons for Number of Trades, or the bar range.

For Futures Symbols Use Continuous Futures Contract ChartsĬomparisons relative to prior bars in the chart chart can be done on other than Volume. If you only want to display this one Subgraph and not the Relative Volume, then set the Relative Volume Subgraph Draw Style to Ignore. The Cumulative Volume Ratio is displayed using the Cumulative Volume Ratio Subgraph. The Cumulative Volume Ratio is calculated as: CurrentDa圜umulativeVolumeToTime / PriorDayAverageCumulativeVolumeToTime This is called CurrentDa圜umulativeVolumeToTime. The result is: PriorDayAverageCumulativeVolumeToTime.įor the current day, the volume for each chart bar is added together from the open for the day as determined by the Session Times to the particular bar time being compared to. This value is called PriorDa圜umulativeVolumeToTime and there is one for each day of the Period.Įach of these PriorDa圜umulativeVolumeToTime values is averaged together. Cumulative Volume Ratio Calculationįor the Cumulative Volume Ratio calculation, for each bar in the chart the following calculation is done:įor each of the prior days being referenced as specified by the Period - Days to Include Input, the volume from the open for the day determined by the Session Times is added together for each chart bar up to and including to particular time being compared to on the current day. If you want to display the cumulative volume for the trading day at each particular bar up to that bar, then instead use the Cumulative Sum of Study study which then references the Volume of the main price graph and set it to reset each trading day. The Draw Style for the Average Volume Subgraph by default is set to Ignore. The relative volume percentage ( Relative Volume Subgraph) and the underlying average volume ( Average Volume Subgraph) are available in two separate Subgraphs. The relative bar volume is represented using the Bar Draw Style which can be colored based on the High Percent Threshold, High Threshold Color, Low Percent Threshold, and Low Threshold Color Inputs. The number of previous bars used in the average calculation is controlled by the Period - Days to Include Input. For example, the 9:30:00 bar for the current day is compared against the average of the previous 9:30:00 bars.

For each chart bar, the bar volume is expressed as a percentage of the average volume for previous bars with the same starting time.