AlAlawi ~ Volume Confidence Breakout

8 Jun 2020

This is a Volume statistical mean and Lognormal deviation

This indicator shows X amount of Volume bars Lognormal Mean and Standard Deviation, then applies your confidence level.

Just hit like to keep getting free indicators!

18 Jun 2020

Nota Keluaran

No major change to the original code, changed the default number of volume bars to get closer to the mean and lowered the confidence level to 90% ~ 1.645.

Changed the line to a Histogram with easier to see Get Ready Bars.

This indicator is one of my favourite for its sheer simplicity, enjoy it!

18 Jun 2020

Nota Keluaran

Adding Text for clear labeling

19 Jun 2020

Nota Keluaran

Finalized the LUX on this indicator with a few mods, sadly, replicating the original Volume indicator takes a toll on productivity and decided to just not to try to overlay the indicator on the price chart.

Changes are done to the script to improve missed Volume Breakouts due to Standard Error of the Sample size, I decided to have it relatively aggressive to increase the number of breakouts for overall less volatile instruments that most FX Traders would enjoy such as EURUSD

Note~ The aggressiveness here is not considered a faulty approach, just statistically riskier relatively while this indicator is also not built to be used Solely without due diligence.

If you make money with this Replacement of the Volume, SMASH that LIKE button to help boost the Free Indicators Morale!

23 Jun 2020

Nota Keluaran

Adjusted the format of the figures to read as Volume such as (10K)

Hit like or TROLL this indicator out!

23 Jun 2020

Nota Keluaran

Okay another fancy upgrade to this Indicator is to have a Dynamic Confidence Level that would generally increase at times of significant volatility where volume continues to rapidly breakout a constant 90% (1.645) confidence level for example...

So we run a count of Breakouts to adapt for Significant Activity,
if there were Less than 25 Breakouts, we would have 90% 1.645
if there were Less than 50 Breakouts, we would have 95% 1.96
if there were Less than 75 Breakouts, we would have 99% 2.576
Else Pi is what I use as my THEORETICAL 100% Confidence Level.

if you don't like it TROLL this indicator, else a simple thank you is just a good motivation.

23 Jun 2020

Nota Keluaran

Accelerated the Velocity of Breakout Adjustment on the Dynamic Confidence, this should help improve responsiveness.

30 Jun 2020

Nota Keluaran

Added a title to the plots to easily identify them from the settings clog ...

5 Jul 2020

Nota Keluaran

Clean Up!

27 Jul 2020

Nota Keluaran

As part of getting a better point estimate of a more reliable mean if that makes any sense to Humans out there !!
I decided to trim away the outliers in the sampled data should they become in excess of 95% or lower than 5% to avoid skewed data and get a normal distribution (less probability in the tails)

This hopefully would now work better on Stocks due to the nature of trading on equities.

26 Ogo 2020

Nota Keluaran

Hello every1

To allow a selective variety for the amount of data to trim from the volume ... this is generally valid for stocks that relatively drops dead on volume during the day ... this allows you to put a trim on the top and lower ~ 90 95 99 and the virtual 100% at 99.999999

play up the options and let me know if this indicator helped you in any way in the comments below..

26 Ogo 2020

Nota Keluaran

typo

1 Nov 2020

Nota Keluaran

Given the recent volatility in the markets, we have seen an increase of trading activity, probably has to do with all the broker ads that' are going on;
This gave me an idea to look at Volume in terms of a Multiple from the Current Price to illustrate areas of high activity and or interest.

To KISS ~ Keep it Simple.
A Stock with 10M shares floating is worth 20$ per share beginning of the year with a Volume of 1M per day VS Today is priced at 7$ with 1M Volume a day is not the same interest level and or activity!

Although the money exchanged was the same at 1 Million, however, the interest at 7$ with 7x10M shares = 70M Market Cap where 1M Trading Volume is 1.43% of the Companies fair value while the 20$ beginning of the year X 10M shares is worth 200M Market Cap where 1M Trading Volume is only 0.5% of the companies fair value.

This multiple theory in my opinion only! I don't care if you agree, troll me in the comments; would serve as a better measure of interest and or activity levels.

24 Nov 2020

Nota Keluaran

Concept Correction and Reversal, Renaming Labels and Adjusted Breakouts to Ratio from the sample population.

Concept Correction and Reversal ~ No longer continuing with a Volume multiple from Float is no feasible. Reasons;
The script was previously dividing the # of Shares traded (volume) by current bar instead of multiplying them for shares notional average value traded.
The volatility of the floats with no live access to the data as companies may announce the Shelved Shares any day during the year.
The financial() function only provides the Financial Year Float, not even the Financial Quarter.

Having done the below changes, I truly believe this Volume indicator is a much better upgrade to the Traditional Volume indicator.

** Please stop using the previous versions and ensure you are up to date to the Latest Published Version!!

24 Nov 2020

Nota Keluaran

Label Update Only

10 Dis 2020

Nota Keluaran

Due to the variable volatility between stocks it is much better to view all confidence levels, and could be removed if not wanted from the Style prompt.

I think this will take some getting used to as it increases additional lines to look at for no reasons, (Again can be removed).

Let me know what you think needs improvement if any.