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Thinkorswim Relative Volume Paintbars Indicator Update v2.6

thinkorswim time based relative volume indicator

I’ve recently been adding several new functions and features to the Thinkorswim Relative Volume paintbars indicator package including:

  1. New volume sources
    1. Range by itself
      1. New range types added
    2. Open Interest
    3. Implied Volatility
    4. Many new combinations of all the types
  2. New BLENDED average mode — weight both the Time Based Average and Moving Average of your volume source according to whatever percentages you want
  3. New automatic or manually set time based mode
  4. New columns and scans for each type of volume source
  5. New labels indicator showing relative overnight volume, premarket volume, aftermarket volume, opening range volume, and regular hours volume
  6. New bonus columns for relative and absolute overnight, premarket, and aftermarket ticks/trade count and share volume

As always, if you purchased the indicator before, all updates are free. Just log back in and go to My Account > Orders > View and the new links should be there.

If you haven’t yet gotten your hands on it, check out the video and my playlists of trades on Youtube, and then purchase the set here:

Get the Relative Volume Indicators Here

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Day Trading with Equivolume Price & Volume Analysis

In this video Josiah introduces a simple method for day trading with Equivolume on highly liquid stocks like $MU. Specifically Josiah focuses on price and volume analysis on the 2 minute intraday timeframe. As far as tools and indicators, Josiah uses a basic 10 period Exponential Moving Average (EMA) as a trend indicator, along with the Z-Distance from VWAP indicator and Time Based Relative Shares Per Trade on Richard Arms’ Equivolume style charts. The combination of Equivolume and relative shares per trade adds an extra dimension of volume analysis and allows traders to see the relative commitment of large institutional traders at different times throughout the day.