My latest update to my CoCoVolume Indicator. It calculates today's percent over the 60 period average for both your symbol and index, and displays that difference. If the percent is over the max it highlights the color, showing BIG action for that stock.
The last version was calculating the percent difference from yesterday to today for the stock and index and displaying the difference. The prior method had large swings on low stocks... this one shows the independent action much better. The default values will suit most stocks.
You can set three variables...
- the index symbol, default is SPY
- the period for averaging, default is 60
- the max percent, default is 500
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.