New featur Index Volumes
We’re excited to share that Index Volumes are now live on FYERS Web, Trader & App.
With this update, you can now view and analyze index-level volumes for:
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@Awnishsingh365 These volumes are just superimposed from the Futures. Tradingview does the same. Better to shift to the Future chart in Dhan.
Try fyers broker index volume
@Awnishsingh365 It hardly makes a difference as we can easily switch to a Future chart in any broker to see this. The suggestion was how to get the same feature here and the Future price mimics the underlying with some premium on price.
No @nitishbangera. These are not superimposed from Futures. These are just combined volumes of all the constituents of that Index. For e.g., whatever volume of 50 components is, the total of same will reflect in Nifty Index volume.
I agree that these are misnomer. It would rather be great if Futures volumes are superimposed rather than the constituents’ one.
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@Awnishsingh365 @Shally I stand corrected on the “Superimposed” part but yes i just look at the Future chart if I need volume or VWAP. Dhan could add it but the value addition is too low when there already is an alternative.
This feature is already there in native Tradingview. Dhan is in the broker panel to place trades.
No value addition as such but it is always convenient to have volume bars within the chart rather than juggling between two windows just to see volumes. It is beneficial for volume breakout traders imo.
Surprisingly, pine code for volume indicator is also hidden on native TV?!?!
We can fetch the volume of index constituent stocks, add them and get the volume indicator for NIfty in pine code.
Yeah. That’s when Dhan’s backend team comes in picture; if their users want to have volume-based indicators on tv.dhan. Else native TV has integrated it by default anyways. Now Fyers too.
There is no need to juggle as such. You can primarily refer the Future chart only and once in month add that month’s future to the watchlist to refer to it daily. FYI this is only needed for Indices so the watchlist will have limited values.
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Hey @Awnishsingh365
This is a point that we have often revisited, however found multiple approaches to it:
- Showing futures volume data on Index charts
- Combining volumes of all constituents and then plotting on index charts - this can be again on two ways:
a. Simple SUM of all volume
b. Weight based SUM of volume
Would love to know thoughts of what would be the best way. This impacts indicators as well - for example applying VWAP on indices and hence become crucial.
This is the best approach IMO. @Hardik
As I have mentioned that I see volume on the Future chart, I would prefer seeing the above on the index spot.
I am no expert in futures segment, hence a doubt:
Volume of each month’s contracts wouldn’t be varying? Or it will be the sum/average of all index future contracts which are live?
Hi @hardik,
Glad to see the thought process here and appreciate that Dhan team is trying to incorporate volumes on Indices.
The current industry standard is SUM of volume of all constituents. (Not sure whether simple or weighted). However, I believe, this SUMMATION is just a misnomer. Reason: See, as a trader, I would trade based on the chart of respective scrip. So, if I want to know the volumes of Nifty because I want to trade it, I would be interested in Futures volume. SUMMATION of constituents’ volume give wrong picture. It might be possible that Reliance, for e.g., has huge volumes due to some news which might be skewing the volumes of Nifty as per this approach.
But RIL’s volume won’t have any direct impact on volume of Nifty Futures.
So, I believe, showing volume of near Futures chart is the best bet.
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वर्तमान समस्या:
वर्तमान में, आपके प्लेटफॉर्म पर इंडेक्स चार्ट्स (जैसे Nifty या Bank Nifty) पर वॉल्यूम डेटा प्रदर्शित नहीं होता है। यदि हम इंडेक्स फ्यूचर (Nifty Futures) का वॉल्यूम लगाते हैं, तो वह वॉल्यूम असली इंडेक्स वॉल्यूम का सही प्रतिनिधित्व नहीं करता है।
वॉल्यूम का सही महत्व:
- इंडेक्स वॉल्यूम (जो Nifty का समग्र वॉल्यूम है) और इंडेक्स फ्यूचर्स वॉल्यूम दो अलग-अलग डेटा सेट हैं।
- फायर्स (Fyers) और ट्रेडिंग व्यू (TradingView) जैसे प्लेटफॉर्म इंडेक्स चार्ट पर जो वॉल्यूम प्रदर्शित करते हैं, वह इंडेक्स की समग्र लिक्विडिटी, भागीदारी, और प्राइस मूवमेंट की पुष्टि के लिए कहीं अधिक उपयुक्त होता है।
हमारा अनुरोध:
मेरा अनुरोध है कि आप इंडेक्स चार्ट पर वह वॉल्यूम डेटा लागू करें, जो फायर्स और ट्रेडिंग व्यू में उपलब्ध है। यह इंडेक्स फ्यूचर्स वॉल्यूम से अलग वॉल्यूम होना चाहिए, जो इंडेक्स की समग्र ट्रेडिंग गतिविधि को दर्शाए।
यह फीचर इंडेक्स ऑप्शन और फ्यूचर्स ट्रेडर्स के लिए तकनीकी विश्लेषण को अविश्वसनीय रूप से सटीक और विश्वसनीय बना देगा।
हम आपके प्लेटफॉर्म के सुधार के प्रति आपके समर्पण की सराहना करते हैं और इस महत्वपूर्ण डेटा को प्राथमिकता के आधार पर जोड़ने की उम्मीद करते हैं।
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Hlw @Hardik index volume now sahi broker
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Hi @Awnishsingh365 , sorry for the late response!
We’ve noted your feedback regarding showing actual volumes of indices on our platform. Our team will work on improving and enhancing our volume indicator functionality in upcoming updates.