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Id’like to define an exploration based on equivolume charting.
in order to discover which securities have generated a box or
oversquare box bar. How can such an exploration be written?
Thanks Michmauro
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Equivolume shows the trading range based upon a unit of volume instead of time so
you have to define your unit of volume and then "box" and then "oversquare".
I wasn't able to find the latter two in the reference manual, any examples?
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Rank: Newbie
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Thanks johnl, for your answer.
The definition of “box”, “oversquare box” as well as methodology are available at [censored]Arms page http://www.armsinsider.com/pdf/index.asp , where
you can download a pdf copy of his newest file.
The goal is to calculate the box ratio [in EOM Indicator manual page :Volume/(H-L)] and to find securities for which box ratio is lower or equal to 1
The calculation of volume, as appears in bar, is somewhat complex.
At least for me.
Thanks in advance for your attention
Michmauro
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The page you referenced says to include the volume by normalizing it over the range of displayed volume. If you were to normally display 50 bars of data at a time, the normalizing could be done this way:
tv:=Sum(V,50);
bw:=(V/tv)*100;
box:=(H-L)*bw;
bw is the percentage of the volume of the current bar as compared to the the last 50 bars.
box is the area of the bar.
I know this is not everything you were asking for, but it should help you get closer to your objective.
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Rank: Newbie
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Thanks for your suggestion.
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