TD Ameritrade’s platform gives us a stock volume indicator, however it doesn’t really give us clear information besides the total volume traded. In this post we will go over a Custom Volume Indicator for Think or Swim that focuses on Uptick volume vs Downtick volume.
Here’s how to install it:
Once you have Think or Swim open, click the link below and click on “View in Think or Swim.” This will have you save the script into your studies list. Name it something you’ll be able to find easily. I saved it as “Volume BUY/SELL” – then simply add it into your charts/studies/sets.
Custom Think or Swim Volume Indicator: http://tos.mx/NbxaA1u
Check out this post as well on another indicator I like to use: RSI – Relative Strength Index