Volume Data for Indexes

Q: Traderbyte volume data is inconsistant on the $DOWI 30 min chart. Volume looks good on daily,weekly, and monthly although the volume amount shows milliions when should be billions.

A: The $DOWI is an index and as such is not a traded instrument.  The intra-day refresh does not have any volume information.   On the intra-day charts, what is being shown in the volume field for a bar is a tick count when the bar is built in real-time.  Each time a value is received, the volume is treated as 1 and the sum would be a total number of ticks in the bar’s time period.

On daily refresh from TraderBytes for this index, a volume value is returned. Their values
are shown in the millions. Possibly the values sent have a decimal shift to show 100 lots. Either way, Ensign displays the values returned on the data feed.

For weekly and monthly, the TraderBytes source does not have weekly and monthly bars, so Ensign requests refresh of daily bars and builds weekly and monthly bars from the daily data.  The daily volume values are summed to get a weekly value and a monthly value.

Swing Labels on an Average

Q: I would like to have a DYO that will assign labels to pivots on a simple moving average.  These labels would be similar to the labels used by the Pesavento Patterns (Min Size/Bars 0/0).   The DYO must be compatible with the new build for Ensign, and must include Double Tops (DT) and Double Bottoms (DB). The Pesavento Patterns do not include these.

A: Add to the chart the average study and the Pesavento Patterns study.  Change the DATA POINT selection in the Pesavento to reference the moving average and then the swing points of the average are labeled.  Use the LBL selection as the Marker on the top two rows of the Pesavento Patterns property form.