time weighted percent of average volume

[bkout]

I'm hoping this indicator exists and can be used in the Market analyser for a group of stocks.
The idea is that at any point intraday when the market is open the indicator looks at the current trading volume of a stock. Then it time weights it meaning "if the stock keeps trading at the current rate for the rest of the day then this will be the volume at the close." Finally this number is divided by the 50 day average daily volume to produce a percentage number. So at say 10:35 am EST a 100 in the column for a stock would be saying that IF the stock contines to trade at the same rate for the rest of the session then the daily volume will be the same as the last 50 day's average. 200 would mean on track to be double volume, 50 would be on track to be half of the average volume etc. Does this exist?
I have written the "code" for Ameritrade's Strategy Desk but I am not able to write Ninja code.

[NinjaTrader_JC]

Hello bkout,

I am not aware of an indicator that do this, but NinjaTrader does have a Volume Weighted Moving Average (VWMA) indicator that comes preloaded that is close to what you are looking for, but the percentage and the check for the day average volume would have to be added in.

I will leave this thread open for other members of our support forum or if you are interested in trying to code this I would be happy to help.

[bkout]

Thanks JC. This is a useful indicator to evaluate intraday breaks of support or resistance etc. If a noble Ninja coder is willing to work on it I could supply the logic via the Strategy Desk code which is more like an Excel formula than "real" code