Extended Hours AVOL Comparison BY ATALLA

Extended Hours AVOL Comparison BY ATALLA - Indicator Summary
Purpose
This indicator tracks and analyzes trading volume during extended market hours, dividing it into key components and comparing them to the average daily volume to provide insights into off-hours market activity.
Key Components

After Hours Volume (AH)

Tracks accumulated volume after regular market close (16:00-20:00 ET)
Displayed in absolute value and as a percentage of average daily volume


Pre-Market Volume (PM)

Tracks accumulated volume before regular market open (04:00-09:30 ET)
Displayed in absolute value and as a percentage of average daily volume


Total Extended Hours Volume (EH)

Combines AH and PM volumes to show total off-hours trading activity
Provides a consolidated view of extended hours participation


Average Daily Volume (AVOL)

Calculates the average volume over the last 21 days (configurable)
Serves as a benchmark for evaluating the significance of extended hours volumes



Visualization

Information Table

Displays all relevant data in a structured format
Shows absolute volumes and percentages for easy interpretation


Charts

Color-coded lines representing accumulated volumes (AH in cyan, PM in magenta)
Histogram visualizing the current volume percentage relative to AVOL



Practical Applications

Market Event Analysis - Evaluate the impact of news after close or before open
Momentum Assessment - Identify unusual interest in an asset outside regular hours
Opening Preparation - Assess pre-market activity to anticipate potential moves at open
Gap Strategy Development - Understand the volume behind opening or closing gaps
Liquidity Analysis - Determine if there's sufficient volume for order execution in extended hours

Customizable Settings

AVOL Period - Adjust the number of days for average volume calculation
First Volume Treatment - Option to include or exclude the volume from the first after-hours bar

This indicator serves as a valuable tool for traders who operate in or monitor assets during extended hours, providing quantitative context to assess the importance of price movements outside regular trading hours