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Delivery Volume Percentage Indicator for ThinkorSwim

A reader came to me with a request to convert a script from Trading View to ThinkorSwim.

The indicator is called Delivery Volume Percentage.

What is Delivery Volume Percentage

Delivery volumes, often known as “delivery percentage,” distinguish speculative trades from long-term trades.

In other words, this indicator tells when the stock is bought for long-term or just speculative trading.

Using that data, traders can predict the movement of the stock based on the delivery volume.

A sudden rise in the delivery % shows that more people are interested in buying shares of the stock.

Delivery Volume Percentage Indicator for ThinkorSwim

# Indicator Name: Delivery Volume Percentage
# Description: Identify trading volume intended for positional trades. A sudden rise in a stock's delivery percentage indicates accumulation and distribution patterns.
# Version: 1.0.0
# Developer: Melvin C.
# URL: https://thinkscript101.com/delivery-volume-percentage-indicator-thinkorswim/
# Source @obmanish https://www.tradingview.com/script/IBWTotkv-Delivery-Volume-Percentage/ 

declare lower;
def buyVolume = if((high==low), 0, volume*(close-low)/(high-low));
def sellVolume = if((high==low), 0, volume*(high-close)/(high-low));
def rawDeliveryVolumePercentage = (((buyVolume - sellVolume) / (buyVolume + sellVolume))*100);
def deliveryVolumePercentage = ((((buyVolume - sellVolume) / (buyVolume + sellVolume))*100)+100)/2;
plot upper = 95;
#plot lower = 5;
plot data = deliveryVolumePercentage;

Happy testing!

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