High-Volume Levels

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High-Volume Levels

The Divergence Software, Inc. High-Volume Levels study calculates the price levels at which the highest volume was traded for the current trading day and for each of the last X days (where X can be any number from 0 to 20) and it plots these price levels on the chart. These high-volume price levels (which are basically the Points of Control from prior trading days) identify prices where high levels of trading activity took place in the past and they can represent strong areas of support and resistance for the current trading day.

The high-volume lines are labelled on the chart based on their distance from the current trading day. For example, the high-volume line for the current trading day would be labelled "HV 00" and this particular line would update in realtime as new trades come in. The high-volume line based on yesterday's trading activity would be labelled "HV 01" and the high-volume line based on the trading activity from two days ago would be labelled "HV 02". In addition to the current day's high-volume line (e.g., "HV 00" ), up to 20 historical high-volume lines can be plotted on a chart (e.g., "HV 01" through "HV 20").

Example chart with high-volume levels from the prior 10 days displayed. Notice that almost all of these levels provided some degree of support/resistance during the current trading day.

Application

Can be loaded into any eSignal Advanced Chart that is using an intraday bar interval from 1-min and up. This study will not work with tick charts and will not work with daily, weekly or monthly charts.

Features

All operations are fully menu-driven.

Will work with any instrument that has a tick value. Has built-in logic to auto-detect the Tick Value for the security you are charting.

Allows you to override the auto-detect feature and specify a custom Tick Value and decimal Precision value.

Historical high-volume levels for up to the last 20 days can be plotted on the chart.

Current high-volume level is updated in realtime.

The study can be configured to update at any frequency from 1 second to 5000 seconds. With this option you can control the amount of system resources utilized by the study.