I am looking for a volume indicator that shows the current volume for the day compared with the avg volume for the same time during the previous 20-day period.
For example, if a stock averages 2-million shares at 10am for the last 20-days, I want to be alerted when the volume at 10am exceeds 150% of that. Not just on that 60-minute bar, but I want to see the cumulative volume from pre-market up to that time during the day versus the average for that time prev 20-days.
This would be used to see how strong price breakouts/breakdowns are.
Hi....maybe what you looking for could be given by relative volume and / or also suggested by volume vs Net new trades. Also this info can be extralopated for index futures. There are probable ways maybe this can be synthesized if using FX but have not seen relative volume for fx only seen vwaps.
I guess many of the platforms can display this with in built or 3rd party indicators. I use TradeStation where I do have indicators for relative volume n Net new trades.