Just a quick update to let everyone know that the current version of the Relative Volume indicator now comes with my latest implementation of “Zanger Volume”. This concept is used by Dan Zanger, and the idea is that you can look at the current intraday cumulative volume at any particular time of day, and compare that to the average cumulative volume that has usually traded by that time of day in the past. I’ve had several requests for this indicator in the past so I finally decided to put in some effort and finish the version I started years ago. Here’s what it looks like:
Prior RelVol purchasers can get free access to this bonus when you log into the My Account / Orders / View Order Details area of the site.
New customers can get the whole RelVol package with the Zanger Volume bonus here:
Today I’ve released some substantial updates to both the Relative Volume indicator set and the Position Sizer.
Relative Volume, Trades, Shares-Per-Trade, and Shares-Per-Range
The Relative Volume, Trades, Shares-Per-Trade, and Shares-Per-Range indicators have all been combined into a single indicator that lets you switch between modes.
The Time-Based Average and the Moving Average based relative volume indicators have now all been combined into the single indicator as well, so you can switch between a time based average for use on intraday timeframe charts, and a custom moving average of volume for any timeframe chart.
Efficiency improvements have also been made to reduce resource consumption and keep your platform responsive.
The Position Sizer has a new mode for Fixed Dollar Target, in addition to the existing Fixed Price and Risk Multiple target modes.
New mode for stop – fixed dollar stop
New mode for risk per trade – choose a fixed dollar amount to risk or keep the normal percentage of buying power, either auto or manually chosen
All the data points in the label have been separated out so they can be controlled individually.
New labels for Bid-Ask Spread, Daily Volume, stop size, buying power required, etc.
Add spread size to stop size automatically
Fixed an issue to limit number of shares not only by risk per trade but also by buying power
Added offset setting for labels, so you can choose to display the entry/stop/target and position sizing info for the prior candle instead of the current candle, in case you like to use bar break types of entries based on the just-closed prior candle.
I will be updating the images and data sheets for each in the coming days, but I wanted to get the release notes out there for people who’ve already purchased in the past.
I hope these changes will add value and benefit your trading workflow. As always, updates are free to prior purchasers and the new links are available in the My Account > Orders area of the site. Thanks for your continued support and kind feedback!
Josiah is a stock trader, thinkScript programmer, real estate investor, and budding mountaineer. He's also rumored to be an in-shower opera singer. Josiah & his family live in Nashville, TN. Twitter | YouTube
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