I should note that, because of the copious number of lines of code, this may not represent true averages over multiple days if your timeframe is really small. This is dependant on those days being open in the current timeframe - it will not pull data not on your plot. One is the running total of the average volume by time over the last n days. The IndicatorThe indicator is, at it's essence three plots. Hopefully the original author will be pleased to see old work resurface and with a twist. I cannot lay claim to having originated the average volume by time method. This script is a work derived in part from an indicator I found on the internet. A problem I see is that volume does not accumulate in a linear manner through the trading day, and visualizing above and below average volume days is not easy. Other studies show, often in labels, volume by time t as a percentage of an average volume for the day. To try to tame the wilderness of volume analysis, I humbly present a script for comparing intraday volume to recent volumes and projecting a forecast for volume through the day. IntroductionForecasting volume is notoriously tricky business.
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