EstimatedVolume is a ProScreener command used in the ProBuilder language to predict the final volume of the current bar before it closes. This command is particularly useful for analyzing volume trends in real-time, providing traders with an estimation of trading activity within a specific time frame.

Syntax:

EstimatedVolume

The calculation of EstimatedVolume is based on the formula:

EstimatedVolume = Volume * Multiplier

where Multiplier is defined as:

Multiplier = Unit of time / Time that the current candlestick has been active

Example:

Suppose you want to estimate the volume at the end of a 1-hour bar, and 30 minutes have passed in the current hour with a recorded volume of 500 units:

Multiplier = 60 / 30 = 2
EstimatedVolume = 500 * 2 = 1000

This example estimates that the total volume by the end of the hour will be 1000 units, assuming the volume continues at the same rate.

Additional Information:

• The EstimatedVolume command is only applicable within the ProScreener tool, which is used for real-time market screening.
• This command helps in making more informed decisions by estimating how much volume is expected to accumulate by the end of the current bar, based on the volume already recorded and the time elapsed.

Understanding EstimatedVolume can be crucial for traders who rely on volume trends to make trading decisions, as it provides a predictive insight into market activity.