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Updates to Relative Volume + Position Sizer

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.
  • Find out more here.
Thinkorswim Time Based Relative Volume Settings 1
Thinkorswim Time Based Relative Volume Settings 1

 

Thinkorswim Time Based Relative Volume Settings 2
Thinkorswim Time Based Relative Volume Settings 2

 

Thinkorswim Time Based Relative Volume
Thinkorswim Time Based Relative Volume

 

Position Sizer

Thinkorswim Position Sizer updated labels

  • 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.
  • Find out more here.
Thinkorswim Position Sizer - Settings 1
Thinkorswim Position Sizer – Settings 1

 

Thinkorswim Position Sizer - Settings 2
Thinkorswim Position Sizer – Settings 2

 

Thinkorswim Position Sizer - Settings 3
Thinkorswim Position Sizer – Settings 3

 

Thinkorswim Position Sizer - Settings 4
Thinkorswim Position Sizer – Settings 4

 

Thinkorswim Position Sizer - Settings 5
Thinkorswim Position Sizer – Settings 5

 

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

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Day Trading with Relative Trade Size and Equivolume – Daily Journal

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Day Trading with Price & Volume on $MU – 2018-04-25

Josiah recaps the entries on $MU for 2018-04-25 using his Price Volume Day Trading method.