I am posting my response to an email that I receive in regards to what the percentage number on the Chart-Ex Commodity Charts represents in case there are others that have the same question.
Question; “When I activate the price/volume line on the chart, what does the % under the line represent?”
Response; The “% number” under the line equals the above numerical volume number divided into the trading range’s TOTAL volume. If the trading range is for a Day; the numerical number is divided into the Day’s total volume, if the trading range is for a Week the numerical number is divided into the Week’s total volume, etc.
Chart-Ex Commodity charts objective is to display relevant and concise data for each price into a graphic that lets users’ analysis the relative strength and/or weakness of the price action for the trading range in a comparative format.
Don’t hesitate to email me if you have any other questions. Just click on my contact info.