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Date/Time: Sun, 12 May 2024 10:35:00 +0000

Post From: large volume trade indicator scaling

[2017-02-24 06:38:55] Link To Thread - Link To Post [Go To First Post]
Neo - Posts: 198
I personally have studied normalizing by time of day across the past X days over a decade ago and didn't find to be too good for this recent order flow type of analysis. This is one type of way to normalize and there are others. Yeah, obviously, there's many ways. Please be more specific in how you propose to implement this? What I found most useful was monitoring the large volume trading in the recent past. I want to be assessing the tape in the immediate flow, not comparing it to the last X days....Your millage may vary based on your unique ways of generating trade ideas. Using my example, you could code an input setting for 'days to look back' so that an input of '1' day, only looked at volume from the current day, so using a 30min chart period( or whatever period you defined in the chart settings), the calculation would only look at all data(volume) from current day, based on the range of each 30min timestamp or 'block', eg (11:30:01-11:59:59) etc.