One of the advanced settings: “Don’t start deal(s) if the daily volume is less than” in 3commas can be hard to visualise when you’re looking for a reasonable setting. Often this have been the target of guesswork and/or only selectively checking only the latest volume each time you check it from CoinMarketCap.
We’re offered a tooltip that gives us some idea of what this is and where to find a number for the volume. But even then it’s not easily to find how exactly you should find the trade volume in BTC for the last 24 hours. USD is readily available on a lot of places, but not volume in BTC.
- Go to CoinMarketCap
- Select token (example: ETH)
- Go to Market, select Spot/Perp/Futures
- Change global currency on CMC on the very top left to Bitcoin
This will give you the volume converted to BTC for the last 24 hrs.
If you want to have this information readily available on the TradingView chart instead, we’ve now got you covered with the new indicator TTP Volume in BTC. This is replicating exactly what we went through above.
It takes the volume of the last 24 hourly candles of the asset in your chart, multiplies it with the volume weighted moving average price of the same and converts it to how many BTC that volume represents. Each bar represent the volume of the last 24 hours from that bar.
We’re using the same volume calculation in the Volume Filter in Gavin’s DCA Backtest. So now you can visually pair it with what you see on the chart too. Having this information you can easily review historic volume as well and not only the current volume.
Volume Threshold
There’s also a threshold setting so you visually can distinguish between periods when the volume is above or below the threshold. Green columns show when the volume is above your threshold and orange when it’s below.
Alerts
There’s built in alerts for when the volume crosses above or below your set threshold. It can be useful to find out when there is a lot of volume or if it dries up.
Happy testing!
Do you want to dig in further and want to chat directly with me about it? Then you can either book a call for 1-on-1 discussions or hook me up on discord in the channel #dca-backtest.
You can gain access to TTP Volume indicator by joining TTP via Patreon or TTP website.