1. Home
  2. ThinkorSwim Indicators
  3. Delivery Volume Percentage Indicator for ThinkorSwim

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;
data.setpaintingStrategy(PaintingStrategy.HISTOGRAM);

Happy testing!

Unlock the Power of ThinkorSwim

Get the latest news and updates on TD Ameritrade, ThinkorSwim indicators, thinkScript tutorials, and trading strategies delivered straight to your inbox every week.

We don’t spam! Unsubscribe at anytime.

Leave a Reply

Your email address will not be published. Required fields are marked *