Given volumes fluctuate based on time-of-day, for intra-day bars the Relative Volume indicator (in TASC library) needs to be adjusted. For example, RelVol(period=20) should be evaluated based on comparison with 20 historic 10am bars vs, comparing with the previous 20 bars.

Does the indicator support such intra-day calculation, to account for intra-day volume fluctuations? If not, what's the best approach to support this feature?

thanks
Kiran

The indicator does not contain any special adjustments for intraday. Early next month, the project's open source code will be updated on our website so that any motivated developer could take a look and try to enhance it.

Kiran: Curious if you were able to figure out the relative volume issue you mentioned years ago?

---

I saw some old posts on ways one could trade based on intraday relative volume.

For example:
if a stock meets a certain criteria at 10:23 am then, only buy if the relative intraday volume calculated as average of cumulative daily volume at 10:23 averaged over a 50 or 100 day period.

Thanks,
Balram

QUOTE:
if a stock meets a certain criteria at 10:23 am then, only buy if the relative intraday volume calculated as average of cumulative daily volume at 10:23 averaged over a 50 or 100 day period.

That may look like a fun exercise but for me, averaging the 10:23 bars over any period doesn't seem to have a solid rationale to justify the coding. Am I wrong?

Eugene,
Thanks for the reply. I think the relative volume is very useful. Clearly it is not needed for daily bars since its EOD. But for intraday bars, it could be helpful. For example, a stock could be trading at 10x volume at 10:23 but by close at 4pm could have only 5x on daily. Knowing its 10x at 10:23 is helpful info to have since a relative volume of 10x at 10:23 could hint at a high potential of 5x on daily by EOD.
Any chance you can crack this :) ? I spent 2 days trying to generate code (with no luck) for cumulative volume that tracks total volume for each day relative to open at each intraday bar. Then one can divide avg cumulative volume at any bar time point (ex: 10:23) for last 50 days to get a sense of where today's intraday volume is at 10:23. Appreciate your feedback.

I still believe that making a fixed time like 10:23 a parameter the way you describe is nothing but exercise in curve fitting. What may work is the average volume by period e.g. hourly. Cone has coded an indicator known as the Volume Buzz which can be found in thread below. Hope this helps your own coding:

How to estimate entire day volume in first 5..30 minutes of intraday data?

think i may have not conveyed it correctly. 10:23 was just a timepoint I used for explaining. Your link to Volume buzz is exactly what I was looking for. Thanks Eugene and Cone!!

But wait, there's more.

1. For your convenience, let's add VolumeBuzz to Community Indicators for its 2020.03 release.

2. What you're asking for may have already been coded by Cone as CIV indicator in Community Indicators. Check this out:

CIV (Cumulative Intraday Volume)

You guys rock !!! Thanks again.

Oh, it was nothing.

@balram79

VolumeBuzz added to Community Indicators. To use it, please update the extension to v2020.03 or higher.

Eugene,
I just download the latest version of the community indicators (" Community Components library") V2020.04. I could not locate the VolumeBuzz indicator in there. Could you point me to where i could locate it?

It's right where the other 408 indicators are:

Eugene,
I downloaded the community components library 2020.04 and while a message popped up suggesting it successfully installed, i unfortunately do not see the VOLUMEBUZZ in the indicators. Interestingly, when i go back to the extension again, it says that it has not been installed (screen shot attached). This whole thing is a bit strange.

The only strange thing here is that someone shies away from reading the WLP User Guide (Extension Manager) and the Wiki online guide. ;)

The Extension Manager clearly tells you that you have to restart WLP to apply the change. Be prepared to confirm UAC dialog and OK an Extension Manager info dialog.

Eugene,
Unfortunately, i followed the directions using extension manager. The update to community library and other updates showing up in the extension manager don't really install even when i click install and restart. It does give a message saying they successfully installed but when I re-start wealthlab, none are actually getting installed. Attached is the screen shot saying successfully installed.

Good news Eugene. I went through a related post and the solution there also worked for me -- Below are the instructions from that post that were very helpful.

https://www.wealth-lab.com/Forum/Posts/-quot-Not-installed-quot-Can-39-t-find-Community-Extensions-after-installation-in-WLP-6-9-18-38884

QUOTE:
All right. I fixed it!

On Windows 10, open "Control Panel", then go Programs and "Turn Windows features on or off".
Enable ".NET Framework 3.5 (includes .NET 2.0 and 3.0)" and apply it.

It will install files in "MSBuild" and "Reference Assemblies" folders under "Program Files" and "Program Files (x86)" folders.

Now all extensions will show up in Extension Manager.

Apparently Extension Manager requires .NET 2.0, 3.0 or 3.5 to access the assemblies.

I have never uninstalled .NET Framework 3.5 and I have no idea why it is not installed.

Good to know. It's even been part of our Errors section:

Errors | Extensions, Other errors > In Wealth-Lab Pro, Extension Manager marks some extensions are "Not Installed" or doesn't list them.

It's recommended to visit every time you encounter an error message or an issue:

1. Known Errors
2. Open Issues

Will do.Thanks for your invaluable support.

My pleasure.