bonus thinkscript: sdi_avatod - average volume at time of day
bonus thinkscripts are the extra's you get when you purchase a distribution of my thinkscript suite. in the past they have mostly been thinkscripts that i pass along from other open sources. this new thinkscript is one for which i am not blogging the source code. here is the image for my average volume at time of day script:
wmt with sdi_avatod
average volume at time of day is an important concept for the investors business daily (ibd) crowd. in the image above the 50 day/1 hour avatod is shown as the red stairstep lines. the first hour of trading is particularly important (volume highlighted in a lighter shade of blue) as above average volume then is thought to be an early indication of institutional trading. on a holiday shortened day the the first hour of trading on wmt shows volume way above the 50 day average for the first hour of trading with a price gap to the upside. draw your own conclusions.