ThinkScript Compund Value

February 7th, 2017, 03:30 PM

I was wondering if anyone could help interpret two lines of ThinkScript code from the VSA indicator.

The first is:

rec avgVolume = CompoundValue(volumeEMALength, ExpAverage(volume, volumeEMALength), Double.NaN)

and the second:

rec sAvgVolume = CompoundValue(volumeEMALength, Average(volume, volumeEMALength), Double.NaN);

I initially thought that the first one was simply an EMA of the volume, but the presence of the CompoundValue(volumeEMALength, is throwing me off.

The second appeared to be just the simple average of the volume, but again, I am having a hard time understanding the beginning.

Could someone shed some light on what these two lines of code are actually measuring and the logic behind it.

I checked the TOS website and am having hard time making sense of the explantion in regard to compound value and this specific code.

Thank you in advance for the help

July 31st, 2019, 09:45 PM

Hey,

Did you figure out what this compoundvalue function does and why its being used - whats any other similar function in other languages (Python,c#) if any...

ABCTG · August 1st, 2019, 04:48 AM

BTR411,

from the code snippets it appears the CompoundValue should make sure that the averages have enough bars present before they are used.
If the bar number on the chart is greater than the value for volumeEMALength CompoundValue would return the value for ExpAverage(volume, volumeEMALength) otherwise it would return Double.NaN.

Additionally the link below might help clarifying things for you:
https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Others/CompoundValue.html

Regards,

ABCTG

ThinkScript Compund Value

Discussion in ThinkOrSwim

ThinkScript Compund Value