OmniTrader Professional Forum
OmniScripts
VOLUME INDICATOR
2 replies, 614 viewings
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OmniTrader Professional Forum
OmniScripts
VOLUME INDICATOR
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Last Activity 9/1/2024 11:18 PM 2 replies, 614 viewings |
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nawaz New User Posts: 2 Joined: 5/16/2016 Location: SURREY BC CANADA  User Profile |
"percentage difference between the current volume and the 20-day average volume" | ||
| Etherist Member  Posts: 25 Joined: 6/9/2024 Location: South Australia User Profile |
Try out this attached file **Volume % Diff Indicator**, set to a 20-period default, and see if this works for you. =============================================================== The Volume Percentage Difference indicator can be used in a trading strategy to identify potential trade opportunities based on changes in trading volume. Here's how you might integrate this indicator into a trading strategy: Trading Strategy Concept Identify Volume Spikes: Significant deviations in trading volume can indicate strong buying or selling interest, often preceding price movements. Combine with Other Indicators: Use in conjunction with price action analysis, trend indicators (like moving averages), or momentum indicators (like RSI) to confirm signals. Entry and Exit Rules: Define clear rules for entering and exiting trades based on the percentage difference and other confirming factors. Example Strategy Buy Signal: The percentage difference is significantly positive (indicating a volume spike). The price is above a key moving average (e.g., 50-period MA) to ensure the trend is upward. A momentum indicator (e.g., RSI) is above a certain threshold (e.g., 50). Sell Signal: The percentage difference is significantly negative (indicating a drop in volume or increased selling). The price is below a key moving average to ensure the trend is downward. A momentum indicator is below a certain threshold (e.g., 50). Exit Rules: Set a stop-loss at a percentage below the entry price. Use a trailing stop to lock in profits as the price moves in your favor. Exit the trade if the percentage difference shows a significant reversal. ================================================================== [Edited by Etherist on 6/24/2024 7:58 PM]  Attached file : VolPercentDiff.txt (1KB - 89 downloads) | ||
| Etherist Member Posts: 25 Joined: 6/9/2024 Location: South Australia User Profile |
[Edited by Etherist on 6/27/2024 6:55 AM] Attached file : VolumePercentDiff.jpg (125KB - 147 downloads) |
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