ETF liquidity

Bonjour Guys, newbie on board here. I am looking for your help.

-I am mainly interested in ETFs, trading - still learning not top notch specialist... yet

-I have a list of several ETFs for which I would like to check liquidity and before start doing this I will appreciate your ideas and suggestions.

- I found out that ETF’s liquidity is not determined by its trading volume, but the trading volume is more of an indicator of a funds popularity and how much it was traded in the past – not how liquid it is.
-So there is a suggestion that better gauge of liquidity is to look at the number of shares and other assets being traded. (is this approach okay? Any other innovative measures could be taken? Or any other ideas how to measure ETF liquidity?)

-For which information should I look/be careful for when I will investigating assets liquidity (just volume -buying and selling, or anything else?)

- Is it enough to take in consideration one-dimensional liquidity measures or
multi-dimensional liquidity measures?

Many Thanks,

What do you mean by an "indicator of a fund's popularity"? If it's popular, then it's liquid. Quid pro quo.

Average daily volume, the spread, and how much price bounces around on a chart (GOOG "looks" liquid, whereas something like CYBI does not "look" liquid) can give you an indication if you don't have access to some pieces of software. Though if you have e'm, your best bet is to have a look at the book through Level II, DoM, and T&S for a more accurate view.

That said, liquidity is an important consideration. There are so many ETFs out there these days that there's plenty that don't see any activity. Avoid those like the plague.