the market open volume indicator report on edgeful measures the relationship between the first 15 minutes of session volume and the volume across the rest of the session.

calculates the correlation coefficient so you can see whether high or low opening volume reliably predicts how active the rest of the day will be.

this is one of the 150+ reports available on the edgeful platform. here's how it works, what the data shows, and how traders use it.

table of contents

• what the market open volume indicator report measures
• how the calculation works
• how traders use market open volume indicator data
• combining market open volume indicator with other reports
• key takeaways

what the market open volume indicator report measures

analyzes every trading day in the lookback to compare opening volume (the first candle of the session) with remaining session volume (every candle after). reports the average for each, and the correlation between them.

the report is available for futures, stocks, ETFs, forex, and crypto. you can filter by ticker, session (NY, London, Asian, full globex, or custom), and lookback period.

how the calculation works

the market open volume indicator report groups historical data by trading day and compares the open to the rest of the session.

• the report groups historical data by trading day
• it pulls the volume of the first candle of the session as opening volume
• it sums every remaining candle in the session as remaining volume
• both series are averaged across all days in the lookback
• a Pearson correlation coefficient is calculated between the two series
• the higher the correlation, the more reliably the opening volume predicts the rest of the day

how traders use market open volume indicator data

• gauging whether to attack or step aside based on opening volume relative to historical average
• sizing up when opening volume is well above average on a strongly correlated ticker
• skipping or sizing down when opening volume is well below average and the rest of the day historically follows
• pairing with pre-market volume indicator for a longer pre-session-to-session volume view
• building data-backed rules for which days to engage instead of trading every session the same

the data doesn't tell you to trade. the market open volume indicator report tells you the historical performance of the setup in front of you. what you do with that information is your decision.

results require customization, time, and effort. the numbers change depending on your ticker, session, and lookback period. always check the data for your specific conditions.

combining market open volume indicator with other reports

the market open volume indicator report works best when combined with other edgeful reports for confluence:

• use the what's in play dashboard to see market open volume indicator data alongside your other favorite reports in one view
• the screener lets you scan up to 49 tickers for market open volume indicator setups across 4 reports simultaneously
• edgeful AI can analyze market open volume indicator data alongside other reports and find patterns you'd never spot manually

key takeaways

• the edgeful market open volume indicator report measures the correlation between opening volume and the remaining session volume
• available for futures, stocks, ETFs, forex, and crypto with full session, ticker, and date range filtering
• correlation coefficient plus mean opening volume and mean remaining volume
• part of the 150+ reports included in the edgeful essential plan ($49/month or $39/month annual)
• works best when combined with other reports using what's in play, the screener, or edgeful AI

trading involves risk. past performance and historical data do not guarantee future results. the statistics referenced in this post are based on historical data and may not reflect future market conditions. always trade with proper risk management.