Total amount of money traded indicator?

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  • 11/17/2019 at 9:33 PM #112982 quote
    William Silva Pereira
    Participant
    New

    Hi guys,

    I was wondering if there is a volume indicator that instead of showing the total number of transactions, it would show the total amount of money traded in that timeframe. Does anyone know if this indicator exists in PRT? If not, can anyone help me?

    11/18/2019 at 1:23 PM #113023 quote
    Nicolas
    Keymaster
    Master

    The only way to get an approximation to get what you want is to multiply the Volume by Price:

    a = volume*close
return a
    William Silva Pereira thanked this post
    11/18/2019 at 6:49 PM #113053 quote
    Vonasi
    Moderator
    Master

    Wouldn’t volume times median price be a closer approximation?

    William Silva Pereira thanked this post
    11/18/2019 at 8:23 PM #113057 quote
    William Silva Pereira
    Participant
    New

    It can’t be volume times close, because it wouldn’t tell the whole history.

    Nicolas wrote:

    The only way to get an approximation to get what you want is to multiply the Volume by Price:

    No, it can’t be, because it would not tell the whole history.

    11/18/2019 at 8:27 PM #113058 quote
    William Silva Pereira
    Participant
    New

    Yes, I think that this would work, if the median price reflects all the orders in that timeframe, not just open and close. Any idea it it would be possible such an indicator?

    11/18/2019 at 10:29 PM #113068 quote
    Vonasi
    Moderator
    Master

    Median price is just (high + low)/2 It could be that there were 1000 trades at a price of £2 and 1 trade at a price of £1 and median price would be £1.50 which is not a true reflection of things when volume and price is being considered. Closing price could be anywhere between £2 and £1 which is also not a true reflection of things but median price just feels like it would be a better average of prices than closing price would be to me anyway. Neither are true volume * price for every tick but at least it gives us some sort of value to work with!

    William Silva Pereira thanked this post
    11/19/2019 at 12:02 AM #113077 quote
    William Silva Pereira
    Participant
    New

    I was just thinking, the VWAP shows the value of the average price, right? So, if this value is multiplied per volume it would bring the result that I’m looking for

    11/19/2019 at 2:54 PM #113123 quote
    Nicolas
    Keymaster
    Master

    VWAP formula already include the volumes weighted by the price, so it is considered as the mean value of the considered period of analysis.

    William Silva Pereira thanked this post
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Total amount of money traded indicator?


ProBuilder: Indicators & Custom Tools

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William Silva Pereira @william_silva_pereira Participant
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This topic contains 7 replies,
has 3 voices, and was last updated by Nicolas
6 years, 2 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 11/17/2019
Status: Active
Attachments: No files
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