Using Metastock I generally like to plot the 50 day Exp Mov Avg of volume, but in the current market its way too volitile for many stocks.
One way to reduce the volitiliy would be to take the average volume of the days within 1 standard deviation of the mean (i.e. 68 of days).
My attempts so far to code in Metastock is below, but the result doesn't look at I would expect (i.e. it's too similar to MA on its own).
Any ideas appreciated.
If(V<MA+ST AND V>MA-ST,MA,PREV);