DD - The long version..
Originally meant to be % of the average daily volume over the last 12 months... However the spreadsheet my data comes from reports average volume when in fact it is cumulative volume.. for the year..
Took me AGES to work out what the hell was going on!
So at present it takes a (the) number and divides by the number of trading days in a year (can't remember the exact number) and measures todays volume as a percentage of that.
Because the division is of a fixed number, it gets messed up when a stock hasn't been listed for 12 months..
Because of that inaccuracy, the new scan I am testing ATM shows todays volume as a percent of yesterdays volume.. Not quite as good due to the smaller data set - but 100% accurate as long a the stock has been listed for 2 days!
