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thinkorswim Four Volume 05/04/09

Averages the volume of the /ES, /YM, /NQ, and /TF and creates a volume ratio.

  1. Eric Purdy
    Here is a bit of a twist on my earlier Up/Down Volume Ratio study. Rather than plot the ratio of an underlying equity or future contract, this study averages the volume of the /ES, /YM, /NQ, and /TF and performs the same calculations. In essence, I’m trying to see if more of the volume is going into the bars that close down or to those that close up. You can see from the plot that very high ratios often precede tops and very low ratios often precede bottoms. The indicator can also produce nice divergences as well. (NOTE: This one is a resource hog! You may not want to run this on a “challenged” machine)