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thinkorswim Volume Channel 05/07/09

Draws a high and low price channel with the range of the selected period’s high vol bar.

  1. Eric Purdy
    One of our forum members requested an implementation of something he had seen once in a seminar. The concept is simple – draw a high and low price channel corresponding to the price range of the day’s highest volume bar. Each time a higher volume bar occurs, the channel is redrawn to reflect the new high and low. In addition, the day’s chart can be broken into three time periods within which the volume channel is reset. In this chart, the white dots represent the boundary between the time slices. In a sense, these are volumetric pivot levels. volumechannel.png