Sometimes it’s the little things that make all the difference. It is in that spirit that we’ve released the Volume Extras Pack, which contains several volume analysis tools as well as one of our favorite space-saving studies.
Acme Relative Volume
The Acme Relative Volume (AVR) is a contextual volume analysis study intended to help you understand 3 distinct but related patterns. The AVR is a familiar histogram indicator but with the added feature of a periodic moving average of your choosing. For example, you can place the AVR on 15 minute bars, set the Period to 21 days, and you will see the 21-day moving average of the values on display for each respective 15 minute bar overlaid on the current values. Works on any minute chart of any periodicity. Note that as with every piece of information in trading, all of these patterns must be interpreted in a larger market context. Available in the Deluxe Edition only.
The AVR has 3 data display styles:
- Volume: displays the current volume for the bar against your chosen periodic moving average. Aids in picking out unusual high or low volume bars relative to bars in that time period in the past.
- Range: displays the current range for the bar against your chosen periodic moving average. Aids in picking out unusual high or low bar ranges relative to bars in that time period in the past.
- Churn: displays the current churn – which is volume divided by bar range – of the bar against your chosen periodic moving average. Many traders use churn patterns to help pick out possible turning points in price. So-called “high churn bars” are bars with low range and high volume. 2 examples of such patterns are shown in blue below. While “high churn bars” can indicate opposing forces entering the market, “low churn bars” – that is high range but low volume – can indicate that directional pressure driving the swing or trend is halting and small-size traders are entering late trying to catch a breakout.
- Audio alerts and chart markers for times when the current value exceeds the average value. Markers and audio alerts are completely configurable when on and can be individually switched off.
- Configurable thresholds for alerts and markers, which is perfect for controlling the sensitivity of the alerts and markers for different instruments and time frames.
- The ratio between the current value and the average value for a period can be displayed for each bar all the time, when your mouse is directly over of a bar (shown below), or not at all. Your choice.
In the interest of de-cluttering charts and maximizing screen real estate, here is a simple indicator that plots the bar volume along the bottom of the chart instead of in a separate panel. It’s a pretty simple thing, really. But saves a lot of horizontal space by not adding another panel to the chart.
Here are some feature highlights:
- Adjustable maximum volume bar height and opacity. Volume bar width adjusts automatically as you stretch and shrink charts horizontally.
- The volume can be displayed for each bar all the time, when your mouse is directly over of a bar (shown below), or not at all. Your choice (Deluxe Edition only).
- Colors are configurable for “up” and “down” bars.
Acme Trade Size
The Deluxe Edition contains a new-ish spin on volume analysis. It calculates the average trade size for the bar, then allows you to recolor the bars that are outliers. Essentially, it helps bars that have extraordinary size (large or small) stick out like the proverbial sore thumb. Often big size trades in small-range bars, and often tiny sizes trade in large range bars. You can use this study to help you see “inside the bar” and act accordingly. Available in the Deluxe Edition only.
Here are some feature highlights:
- Configurable upper and lower extreme sizes for use on virtually any instrument.
- Configurable colors for the extremes as well as the “normal” range of average sizes.