Cummulative Sheep Index (Relative Volume)

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Anita

• December 20, 2017 13:36

CSI shows Volume at the time of day relative to the prior N days. To identify when volume is picking up or slowing down. Gives an idea to analyse volume/participation in the market. The absolute value is not as important as the rising and falling.....

 

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  Anita

  • December 20, 2017 13:37

  Also part of Ninja Trader platform

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  Tiki Dave

  • January 27, 2018 16:47

  Sounds pretty useful - could you give more details on how this works, and maybe a screenshot or an article describing it? 

  Would this indicator only work on time (i.e. minute/daily) based charts, and look at the same bar in prior time periods? 

  Is it looking at the average price of those N periods?  

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  Tiki Dave

  • February 11, 2018 18:02

  Managed to find a thread that explained how this indicator works and built it for ya.  :)

  You can specify N periods to calculate an average volume, the default is 200.  You can also add the time you want to the cumulative relative volume to reset, default is 9:30.

  

  Unfortunately in futures markets there's a LOT of time spent doing nothing and it influences the average quite a bit no matter what period you specify.

  To work around this, I added an override where you can specify an average volume manually - anything over 0 will activate it.

  

  Enjoy!

   

   

   

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  Anita

  • February 13, 2018 10:55

  Thanks a lot Tiki Dave.

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  Andreas Wunder

  • March 09, 2018 10:27

  Hey Tiki Dave,

  thank you for this one! i am a heavy user of it within sierra chart.

  is there a way to make it plot as a histogram?

  thanks a lot,

  Andreas

   

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  Tiki Dave

  • May 17, 2018 02:30

  Andreas, I must have missed your note a while back.  I went ahead and made a histogram version of the indicator!  It's called "Tiki Relative Volume Histogram".  

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  Evelina

  • October 24, 2019 19:06

  Tiki Dave, in 5 min chart, does the period stands for 200 bars or 200 days ? tks

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  Tiki Dave

  • October 25, 2019 11:53

  200 bars, we do not have access to higher timeframes.

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  Evelina

  • October 30, 2019 17:18

  Tiki Dave, as RTH has 7hr 15min *4 = 29 bar of 15minutes

  if i want to see relative volume for last 10 days on 15min chart, could i just type 290 period or is 200 the max period ?

  (which mean i must use 30m with 150 period to show 10 days relative volume)

  thanks for your kind info 

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