Thinkorswim volume index

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thinkorswim volume index

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You can even share your screen for help navigating the app. Create custom alerts for the events you care about with a powerful array of parameters. Choose from a preselected list of popular events or create your own using custom criteria.

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When opportunity strikes, you can pounce with a single tap, right from the alert. Tap into the knowledge of other traders in the thinkorswim chat rooms.Trying to time the market? Market timing—that is, pegging exits and entries at their most fortuitous—eludes most investors. Instead, sentiment analysis attempts to track the potential velocity of a move. Well, a stock trader can often use these values to help determine when a security might encounter a bumpier ride thus signaling a time to hedgea time to build a position, or a time to expect a potential reversal.

For illustrative purposes only. Vol Index is the composite implied volatility IV for an underlying security in the thinkorswim platform. You can find the Vol Index in a Watchlist column, as a snapshot within the Probability Analysis section, or on a day-by-day basis within the Risk Profile section both are on the Analyze tab of the thinkorswim platform. Expected Move can show you, the equity trader, the dollar value of an expected move by a specific options-expiration date, as priced in by options traders.

This is the non-percentage value shown on the far right side of each options series header figure 1 above.

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Are we talking about exact market timing? Consider it a complement to the fundamental or technical analysis that typically drives your decision-making. Not investment advice, or a recommendation of any security, strategy, or account type. Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.

Market volatility, volume, and system availability may delay account access and trade executions. Past performance of a security or strategy does not guarantee future results or success. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.

Please read Characteristics and Risks of Standardized Options before investing in options.

thinkorswim volume index

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For a better experience, please enable JavaScript in your browser before proceeding. How to use the Market Sentiment Tool Market Sentiment is a new tool we just released to our community.

Its purpose is to indicate BenTen - Mar 7, Advanced Market Moves 2. BenTen - Feb 20, Threads Messages 7. Sub-forums Sub-forums Custom Index Futures. Script for Earnings Date. Tutorials Threads 28 Messages Threads 28 Messages Today at PM Trading Threads 46 Messages 2K.

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Threads 74 Messages 1.It is calculated as the ratio of the current total volume of put and call options to the arithmetic mean of daily put and call volumes over the last five days. Individual call and put Sizzle Index values are also calculated and available as watchlist columns. The Sizzle Index feature is essentially a Stock Hacker scan template that returns ten stock symbols with highest Sizzle Index values and, by default, have market capitalization of at least 35 million dollars, volume of at leastshares, and last price of at least five dollars.

These default values can be modified in the Stock Hacker interface. This will load the Top 10 Sizzling Stocks scan template. By default, three stock scan filters are added in the template: minimum last price, minimum volume, and minimum market capitalization. If necessary, modify these filters. The total number of matches is displayed live on the right. Note that even though each filter may display a certain number of matches in pre-scan, the actual scan may return no results, as the stock needs to match all the specified criteria.

If necessary, add more filters to the scan by clicking the buttons on above the filters area.

thinkorswim volume index

You can use up to 25 filters in a single scan and only one pattern filter is allowed. To remove a filter, click X on its right. Click Scan. The results will be displayed in a watchlist-like form and you can actually save them as a watchlist by clicking the Show actions menu button and selecting Save as Watchlist Virtually all operations available in watchlists are also available in the search results: you can add or remove columns, adjust sorting, add orders, create alerts, etc.

Consider saving your scan query for further use. To save your query, click on the Show actions menu button next to Sizzle Index and select Save scan query Enter the query name and click Save.

Scan results are dynamically updated. If you would like to be notified of changes in the results, consider adding an alert on the changes.

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To add an alert: Click on the Show actions menu button and select Alert when scan results change In the dialog window, specify which events you prefer to be notified of e. Specify the frequency options: whether you would like the system to notify you of every change in the results or send you a list of changes on an hourly, daily, or weekly basis.

Click Create.

thinkorswim volume index

The alert will be added to your Alert book.Some relative volume indicators simply check to see when volume is above its moving average.

But these measures are highly inaccurate at certain times of the day. Volume is always going to be higher at the open and the close, and these extremes skew the moving average for several bars, making it basically useless during these times.

Few people realize it, but similar volume spikes often happen at hourly and half-hourly increments throughout the day as well, which can further skew a typical moving-average based relative volume indicator. And that journey led to this set of ThinkScript studies for Thinkorswim, which provide an easy, visual way for stock traders to quickly determine if a tradable event is occurring.

I want to mention something briefly. Description Description Relative Volume Version 2. Version 2. A relative shares per trade indicator for intraday charts that shows you the average number of shares per trade for the current bar and whether or not it is an unusual amount.

This is key. When you see this number jump you know the big boys have joined the party!

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A relative shares per range indicator showing if there is a lot of volume being turned over but not much price movement happening. SCANS Find stocks showing high relative share volume, trade count or tick volume, shares per trade, shares per range, or even shares per trade per range. COLUMNS Quickly sort your watchlist to bring the symbols with the most extreme volume signals on any time frame you like to the top of your list.

Hold up guys and gals: free tip… I want to mention something briefly. Why you want it: Find key turning points on the chart before the move is over. See what the big boys are doing so you can follow in their wake and stay on the right side of the trade!

Separate the wheat from the chaff: see when a move has real impetus behind it versus being just another weak oscillation. This is key! Key breakouts and trend reversals or pattern changes are often confirmed with high relative volume. Example of some volume signals at important locations throughout a trend. Answer : For all our thinkscripts, we use the special ThinkOrSwim import links that automatically import the script into your system. There are 2 ways to use the import links: Method 1: Just click the link, and click the big green confirm button on the next page, and the script will be automatically imported into your platform.

Then you just load it up like any other script in your platform. This is the easiest method, but certain browsers might have trouble recognizing the links.

If yours does, just skip to the next method. Method 2: If your browser is incompatible with clicking the links, no problem! Then paste in the link and follow the prompts and it will immediately import the script into your system. Screenshots, video walk through, and a full tutorial video are available here. This is not something we can control. So just switch the default number of days you load on the chart to be more than required for the indicator.

Question: Does the indicator work with Extended Hours turned on? Answer: The time based average mode only works well on charts with Extended Hours turned off showing only regular trading hours. The moving average mode can be used on charts with Extended Hours turned on — just be aware that there will be the typical volume surges at the open and the close of the day that will temporarily affect the average.

Make sure you have enough history loaded on your chart, or decrease the look back period of the indicator.

Or you can decrease the look back period of the indicator. More Questions? Quick View. Josiah is a stock trader, thinkScript programmer, real estate investor, and budding mountaineer.To gauge a stock trend, it's all in the charts. But what about its options? You may not be trading options, but ignore them, and you may be missing the bigger picture. To the veteran options trader, that particular light show makes sense.

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Certain interesting options metrics can be instructive, regardless of your trading habits. The idea being that you can get a sense of what a stock might do based on what traders are doing with its options. The three more useful metrics are:. Open interest 2. When an exchange creates a new options series, before trading begins, the open interest is zero. Every trade is either opening, where a trader establishes a new position, or closing, where a trader exits an existing position.

So, a buy might be opening or closing, and a sell might be opening or closing. For every option position created through an opening trade, open interest goes up by one.

For every position closed, open interest goes down by one. For illustrative purposes only. If the stock price is away from the strike price, either the calls or puts at that strike will be in the money, and the trader who bought the call or put that is now in the money could be making money.

Yet, if the call is in the money, the put at that strike is out of the money, and vice versa. Whoever bought that out-of-the-money option could be losing money. Not good. But when the stock is exactly at the strike price at expiration, both the calls and puts at that strike are nearly worthless. And whoever bought either call or put could be losing money. If the stock goes to that strike, it could cause the greatest losses for the traders who are long those options.

Is the max-pain theory valid? Hard to say. It can seem like some stocks stay in a range of prices where the strikes have the highest open interest. So you may not want to base your stock price targets solely on the strikes with the highest open interest. Always use more than one indicator. Open interest could be supporting evidence for a next move, along with other technical or fundamental indicators. This is a straightforward measure of good old market sentiment. Say calls are bought after the stock has gone up a lot, and puts are bought after the stock has dropped.

Certain investors get caught up in the excitement of a big move up or down and expect it to continue. They place bearish long-put trades after the stock drops, and bullish long-call trades after a rally. That can signal a top in the price of the stock, with veteran traders taking profits as retail traders buy, which can lead to lower stock prices. The pro traders are buying short stock back from less experienced traders who might be exiting their long stock positions, either being stopped out, or having to close positions to meet margin calls.

This activity may drive stock prices higher. So, how can you interpret the data? It measures whether options trading has been more or less active relative to several days prior. If the sizzle index is greater than 1. You can find the Sizzle Index on the Trade page in thinkorswim see Figure 2.

The Sizzle Index can be used in a couple of ways.The Trade Volume Index TVI is a technical indicator that moves significantly in the direction of a price trend when substantial price changes and volume occur simultaneously. Unlike many technical indicators, the TVI is generally created using intraday price data. The Trade Volume Index indicator is similar to the on-balance volume indicator.

The Trade Volume Index is a common indicator provided by technical charting software.

Relative Volume Indicator for ThinkOrSwim

Its calculation can vary across the industry with different programs potentially using different formulas. The most common and simplified approach is a calculation that is based on tick value at intraday price intervals. Traders may have the option to customize tick value when using this indicator. There are several components involved in calculating TVI. First is the minimum tick value MTV which is typically set at 0. Next is the change in price calculated from the intraday price minus the last intraday price.

The calculations of the TVI are then based around tick value as follows:. Generally, traders will discern high conviction trading signals when volume is supporting a price change. This can occur when high volume occurs in association with bullish trading or bearish trading signifying that there is common sentiment by most investors. The Trade Volume Index follows the basic concepts around volume however it also associates price movements with volume.

When the change in price is greater than the MTV the method refers to this as accumulation and adds volume. When the price has decreased and a negative change is less than the -MTV then the method refers to this as distribution and subtracts volume.

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Thus, the TVI moves higher when substantial price increases occur with high volume and lower when substantial price decreases occur with high volume. The TVI is typically displayed in a window below the candlestick pattern. It can be used as an overlay to volume. Trading Strategies. Advanced Technical Analysis Concepts.

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Technical Analysis Basic Education. Your Money. Personal Finance. Your Practice. Popular Courses. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Fakeout Definition Fakeout is a term used in technical analysis when a trader enters a position, expecting a future price movement.