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Volume Forecast
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=== Volume Forecast ===
The idea of "Vwap BLVD"(Closing vwap value of most recent highest volume Day of which todays price is coming in contact with above or below) is to show when you are running into "overhead supply", and or "Demand zones" on the daily chart , or intraday. You can use the Volume Forecast to check throughout the day to see if we are on pace on the current day to "beat" the Blvd's launch dates recorded volume . You can go long on positive volume forecasts toward blvd, or on the break and hold over, or you can go short against Blvd on a negative/lower forecast at the rejection of Vwap Blvd or key technical highs
You can use this label tool after the open, checking periodically to see what VF% on the day were at thus far, and does today's Forecast have a positive expectancy in relation to previous high volume days in question? Or does it have a negative expectancy based on a lower forecast number than the highest volume day and possibly slow % gains over the first hour, (checking every 15min and notating increase or decrease) thus possibly failing to over come previous over head volume resistance from the highest volume day.
Scenarios would be-
Long- We have a previous highest volume day metric of 10Mil on the daily chart. Today we have a Small gap, high PM Volume, and First 30min Were already at 50% of a 100Mil forecast. In this scenario, i would have more confidence getting long once we have reached key support areas or broken and held prior highs or vwap of the highest volume day knowing that we are forecasting MUCH higher on the day then highest volume day previously.
Short- Would be just the opposite. We have a Gapper in the morning of which has a previous high volume day of 100mil, and were interacting with that days range. low volume premarket, and out of the bell we spike but fail, and VF% is very slow to rise, and our total forecast on the day is only showing 5mil on the day total after the first 30min. I would feel confident going short against Vwap BLVD or a prior HOD from the highest volume days price range, knowing we wont have enough volume to clear the overhead volume supply.
Ive also included a small table that covers AVG vol on the time frame of your current chart. RVOL and ATR as well to help ID outlier type moves.
ALL METRICS INCLUDING VOLUME FORECAST CALCULATE FOR THE TIME FRAME YOUR CHART IS CURRENTLY ON.
Best results and most accurate readings for Forecast have been on the 1min and daily chart. Using both time frames for cross comparison intraday to gauge the volume flow after open every 15 min for the first hour or so of market. Volume forecast DOES NOT work outside of normal market hours on trading view. It will reflect negative numbers in off hours depending on the volume done on the day in that stock and in some replay modes.
This is a SIMPLE study, I wanted to KEEP it that way. So it was EASY to read, and less to be confused about.
ARE WE DEALING WITH A EARLY BIG, HIGH % IN FIRST HOUR FORECAST FOR TODAY VS PRIOR HIGH VOL DAYS???
Or
ARE WE DEALING WITH A LOW, SLOW BUILDING FORECAST IN THE FIRST HOUR FOR TODAY VS PRIOR HIGH VOL DAYS KEY LEVELS?
The easier and simple it is to read this, the faster and cleaner you can execute.
Hope you enjoy.
JMF
SPECIAL THANKS TO ©Rumpypumpydumpy AN AMAZING CODER IVE BEEN WORKING WITH FOR HELP WITH THE FINAL LOGIC AND CLEANING THE CODE AND VISUAL ASPECTS UP.
Make sure to stop by his page here on trading view and check out some of his amazing studies.
If you have any questions feel free to Dm here.
The idea of "Vwap BLVD"(Closing vwap value of most recent highest volume Day of which todays price is coming in contact with above or below) is to show when you are running into "overhead supply", and or "Demand zones" on the daily chart , or intraday. You can use the Volume Forecast to check throughout the day to see if we are on pace on the current day to "beat" the Blvd's launch dates recorded volume . You can go long on positive volume forecasts toward blvd, or on the break and hold over, or you can go short against Blvd on a negative/lower forecast at the rejection of Vwap Blvd or key technical highs
You can use this label tool after the open, checking periodically to see what VF% on the day were at thus far, and does today's Forecast have a positive expectancy in relation to previous high volume days in question? Or does it have a negative expectancy based on a lower forecast number than the highest volume day and possibly slow % gains over the first hour, (checking every 15min and notating increase or decrease) thus possibly failing to over come previous over head volume resistance from the highest volume day.
Scenarios would be-
Long- We have a previous highest volume day metric of 10Mil on the daily chart. Today we have a Small gap, high PM Volume, and First 30min Were already at 50% of a 100Mil forecast. In this scenario, i would have more confidence getting long once we have reached key support areas or broken and held prior highs or vwap of the highest volume day knowing that we are forecasting MUCH higher on the day then highest volume day previously.
Short- Would be just the opposite. We have a Gapper in the morning of which has a previous high volume day of 100mil, and were interacting with that days range. low volume premarket, and out of the bell we spike but fail, and VF% is very slow to rise, and our total forecast on the day is only showing 5mil on the day total after the first 30min. I would feel confident going short against Vwap BLVD or a prior HOD from the highest volume days price range, knowing we wont have enough volume to clear the overhead volume supply.
Ive also included a small table that covers AVG vol on the time frame of your current chart. RVOL and ATR as well to help ID outlier type moves.
ALL METRICS INCLUDING VOLUME FORECAST CALCULATE FOR THE TIME FRAME YOUR CHART IS CURRENTLY ON.
Best results and most accurate readings for Forecast have been on the 1min and daily chart. Using both time frames for cross comparison intraday to gauge the volume flow after open every 15 min for the first hour or so of market. Volume forecast DOES NOT work outside of normal market hours on trading view. It will reflect negative numbers in off hours depending on the volume done on the day in that stock and in some replay modes.
This is a SIMPLE study, I wanted to KEEP it that way. So it was EASY to read, and less to be confused about.
ARE WE DEALING WITH A EARLY BIG, HIGH % IN FIRST HOUR FORECAST FOR TODAY VS PRIOR HIGH VOL DAYS???
Or
ARE WE DEALING WITH A LOW, SLOW BUILDING FORECAST IN THE FIRST HOUR FOR TODAY VS PRIOR HIGH VOL DAYS KEY LEVELS?
The easier and simple it is to read this, the faster and cleaner you can execute.
Hope you enjoy.
JMF
SPECIAL THANKS TO ©Rumpypumpydumpy AN AMAZING CODER IVE BEEN WORKING WITH FOR HELP WITH THE FINAL LOGIC AND CLEANING THE CODE AND VISUAL ASPECTS UP.
Make sure to stop by his page here on trading view and check out some of his amazing studies.
If you have any questions feel free to Dm here.
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Fixed "Current Bar" labelリリースノート
Cleaned code, and worded labels slightly different. リリースノート
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