Tradingview Volume - Intraday vs Daily - Discrepancy

Beginner Questions
1

Hi. A newbie here… I am researching the relationship between volumes and price movement using Tradingview. (I’m downloading the data into Excel and doing analysis there.)

But I’m finding that the intraday volume figures (ie the ‘1h’ bars totalled over each day) have no correlation with the daily volume figures (ie the ‘D’ bars). I don’t just mean that they are not the same. I mean they have a mathematical correlation that is close to zero. I have tried running the days from 10am, 11am or 12am, but that doesn’t help. In some cases, the intraday volume (totalled over the day) is approx double the daily volume and in other cases it is maybe 10% to 20% higher - hence close to zero correlation. It is looking as though Tradingview is getting its volume data from fundamentally different sources, depending on the timeframe.

First, I don’t know which timeframe to trust. But, even if I can only trust one timeframe, it is bizarre because to do my analysis properly I need to be able to switch between timeframes.

Thank you sincerely for any thoughts. Daniella :slight_smile:

2

You’ll not have the proper trading volume here since it’s a decentralized market!

3

Hi Luke_Ronchi. Thank you for your reply! My understanding, based on research by Caspar Marney in 2011, is that tick volumes on Brokers’ databases correlate approximately 80-90% with actual volumes, which imho is a pretty good correlation, certainly enough for me to do the sort of analysis I am trying to do. If anyone can challenge, or support, this 80-90% correlation, please let me know.

If the above research is reliable, and tick volumes are useful representatives of actual volumes, this brings me back to my first question: why does Tradingview report such wildly different (and wildly non-correlating) tick volumes depending on the timeframe? Surely, at the end of the day, a tick is a tick… :wink:
Daniella

4

I have no idea on this parameter! Even, I have doubt on it!