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; data.setpaintingStrategy(PaintingStrategy.HISTOGRAM);