Unusual Volume Dashboard for ThinkorSwim: A Watchlist Column in Standard Deviations

It is a custom quote for ThinkorSwim that adds an unusual volume column to any watchlist. It reads the RelVol plot of the Relative Volume StDev study and shows the reading only at 3 standard deviations or more, green when the bar closed above its open and red when it closed below. It is for Volatility Box members.

Click the watchlist cog icon, choose Customize, open Custom Quotes and pick an empty slot. Click the scroll icon, go to the thinkScript Editor tab, name it Unusual Volume, set the aggregation and paste in the code. Or import the shared link from the download through Setup and Open shared item, which adds a new slot.

A green cell means volume was 3 or more standard deviations above normal on a bar that closed above its open, a bullish bar. A red cell means the same volume on a bar that closed below its open, a bearish bar. The number in the cell is the RelVol reading, such as 3.8 on Biogen in the video.

ThinkorSwim shows that message once more than 1,500 custom quotes run at once. Each custom quote column counts once for every symbol in the watchlist, and option chain custom quotes count too. Remove custom quotes you have elsewhere or switch to a smaller watchlist. In the video, the Weeklies list hit the limit.

Loading appears while ThinkorSwim calculates the column and clears on its own. NaN appears where the reading is between 0 and the threshold, because no label covers that range. The black background keeps NaN from standing out, so only the green and red cells catch your eye.

Yes. The video uses daily bars, but you can change the custom quote's aggregation to 1 minute or another intraday period and choose whether to include extended hours. The code stays the same, and the 60-bar length then covers 60 bars of the period you choose.

Edit the line def volumeThreshold = 3, the first line after the header comments. A lower number such as 2 colors more symbols, and a higher number such as 4 colors fewer. The labels and the background color all read the same variable, so one change updates the whole column.

Both read the Relative Volume StDev study. The scans search the whole market and can alert you when unusual volume triggers. The dashboard shows the reading for every symbol in a watchlist you choose, so you can see which of the stocks you trade have unusual volume and sort them in one click.