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Relative

Relative Volume (RVOL) - ATR - R4RocketHello !! This is a big upgrade on my earlier Indicator called "RVOL - R4Rocket". I could have updated the existing script, but there were two reasons for me to not do so. 1. I changed a lot of the previous code and added a lot of statistics like a. Intraday Daily ATR Plot b. Progressive (High - Low) Range as % of Daily ATR c. % of RVOL Days in available chart data in any timeframe d. In the new script RVOL Sectional has been removed as I did't find it very useful (Old script still has that feature) e. And lastly and greatly, I modified the actual RVOL code (Huh ? Well I'll explain what I mean by this below) 2. Earlier I named my script just as RVOL. But then I though, well not everyone is going to search "Relative Volume" Indicator as "RVOL" Indicator, right? And Then during my second update I even tried to see whether I can change the script name but I couldn't figure it out. (Maybe it's not possible or maybe you know, "I DON'T HAVE ENOUGH BRAIN POWER" :P). So in order to make my script more accessible and easy to find for everubody so that it may add a little value to them in their trading, I'm changing the name of the script in this publication to "Relative Volume (RVOL) - ATR - R4Rocket". (Quite a big name, don't you think?) Now as my reasons are out of the way, let me tell you about the indicator and the available options. First let me explain what is RVOL basically. (Even after making 4 updates to my last script, I forgot to explain this......BIG BRAIN POWER :P) It is calculated as (Cumulative sum of volume till time t from the start of the session) divided by the (Average of same period volume over a given number of days). Lets say market starts at 09:30 am and right now the time is 10:00 am. So what RVOL does is it takes the sum of volume done from 9:30 am to 10:00 am for today and divides it by the same average volume that occurred between 9:30 to 10:00 in lets say X number of last days. What this does is gives you the means to quantify how much everybody is interested today in the given stock w.r.t last X days. Generally higher the RVOL value - higher the public interest (due to some known or unknown reason like results / news / market condition etc) - and hence higher is the probability of stock movement on intraday basis. (Mostly everybody prefers to trade stocks intraday with RVOL > 2) Now let's get back to the changes and the features. 1. It calculates Relative Volume Adjusted in a way that the recent volume spike (e.g say due to quarterly result announcement or some other big news) don't skew the next day's RVOL calculation. What this will do is, it will give you a good idea whether the stock is still in play the next day or a day after that. LIGHTS !! CAMERA !! ANNNNNNDD ACTION !! (I love to watch movies, not very relevant here I know, but couldn't help it :P) Now you can see in the image below the difference between old and new script RVOL calculations. This will help you to find out 2nd Day, 3rd Day plays. To calculate RVOL first you have to choose your local exchange trading hours E.g. NSE (India) trades from 09:15 to 15:30 NASDAQ (USA) trades from 09:30 to 16:00 LSE (UK) trades from 08:00 to 16:30 etc Then you have to choose the RVOL period. This is the lookback period for cumulative volume average calculations.(I suggest using default value of 4 but it depends upon your preference and one more thing to note is that too high of a value will not even load the script due to some constraints that I don't know) And last parameter is RVOL Trigger = What RVOL value YOU CONSIDER IMPORTANT. (I like 2 and if RVOL > RVOL Trigger then the columns will turn Green otherwise they will be Red. SIMPLE !!) You can use any timeframe from 1 min to 1 Day. (Even custom timeframes like 2,4,6 will work fine) 1 min Chart 2 min Chart 2. It calculates Daily ATR in % terms of the day's open and plots it on intraday charts (and on daily charts too, if you want) It's just what I just said - plain & simple. You can see it in the image below. (Yellow dotted line and value in yellow color) This will help you if you use profit targets or stop losses based on previous day's ATR values. All you have to do is tick the Plot Daily ATR % box in inputs and choose the ATR Average. 3. The indicator calculates (High - Low) range as and when it extends throughout the day as the % of Daily ATR This will help you quickly in finding which stocks are trading with extreme volatility. Can be seen in the image below where the stocks trade @ almost 3 times or 300 % of the previous days ATR (Blue dotted line and value in blue color) 4. And lastly it gives you the statistic that will tell you how much is the average % of total days are RVOL days. (Did you get that ? It sounded great in my head but really don't know what I just said) Let me tell you in terms of numbers. Lets say on daily timeframe Tradingview provides some 5000 bars worth of historical data. Out of that there were 16% days where RVOL was more than 2. Roughly speaking if you were to trade this stock every day then you would find on an average about 3 days per month with RVOL > 2. (If you reduce the RVOL Trigger, then you will get more % RVOL days. In the second image if you reduce RVOL Trigger to 1.5 then you will have almost 27 % good trading days AS PER YOUR DESIRED & DEFINED PARAMETER OF RVOL TRIGGER = 1.5. Which translates to almost 6 days per month. You can play with it as you want and deem fit.) RVOL Trigger = 2 RVOL Trigger = 1.5 “The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder With best regards. R4Rocket
مؤشر Pine Script®
من ‎R4Rocket‎
14
RVOL - R4RocketRelative volume or RVOL for short is an indicator that is used to measure how 'In Play' the stock is. Simply put, it helps to quantify how interested everybody is in the given stock - higher the value, higher the interest and hence higher is the probability for movement in the stock. I have tried to create RVOL (Relative Volume ) Indicator as per the description that I read on SMB Capital blog. The blog is a great resource. ................................................................................................................................................................................... How to use the indicator - The indicator is meant for INTRADAY ONLY. The indicator has following inputs - 1. RVOL Period - Value from 3 to 14 (Default Value = 4) This is used to calculate the average volume over the given period of days. e.g. average volume for the last 5 days, last 3 days, last 10 days etc. NOTE - If you use higher RVOL Period on smaller timeframes, the code will give an error. So I recommend using 4 or lower for 5 min timeframe. (Nothing will work on 1 min chart and you can experiment for other timeframes.) 2. RVOL Sectional - True / False (Default Value = False) If you check this box then you will be able to calculate the RVOL for a particular session (or between particular sessions) in that trading day. What do I mean by session? Well I have divided the trading day into 6 (almost) equally spaced sessions in time, i.e. 6 hours and 15 mins (for NSE - India) of trading day is divided into 1 hr - 1st session, 1 hr - 2nd session, 1 hr - 3rd session, 1 hr - 4th session, 1 hr - 5th session, 1 hr and 15 min - 6th session. Before using 3rd and 4th inputs of indicator, RVOL Sectional box MUST BE CHECKED FIRST. 3. RVOL From Session - 1 to 6 (Default Value = 1) 4. RVOL To Session - 1 to 6 (Default Value = 2) Now if you select 2 in "RVOL From Session" input and 3 in "RVOL To Session" input, the indicator will calculate RVOL for the 2nd and 3rd hour of the trading day. If you select 3 in both the inputs, then the indicator will give RVOL for the 3rd hour of the trading day. 5. RVOL Trigger - 0.2 to 10 (Default Value = 2) Filter to find days having RVOL above that value. The indicator turns green (or colour of your choice) when RVOL is more than "RVOL Trigger". ................................................................................................................................................................................... Hope this indicator will add some value in your trading endeavor. “Only The Game, Can Teach You The Game” – Jesse Livermore Yours sincerely, R4Rocket **If you have some awesome idea for improvement of the indicator - request you to update the code and share the same.
مؤشر Pine Script®
من ‎R4Rocket‎
21
Volume+ (RVOL By Time of Day)This script is an enhanced volume indicator. It calculates relative volume (RVOL) based on the average volume at that time of day (rather than using a moving average). For example, using this indicator you can see today’s volume during the first 5-minute candle of the market open compared to the previous day’s volume at the market open. Or you can see today’s volume at the market close during the last 15-minute candle compared to the average of the past 20 days of volume at the market close. Due to the different quantity of candlesticks in a session between Stocks and Forex/Crypto, I separated those markets into separate settings, making this an all-in-one volume indicator that works on all markets. Settings: Stocks If you set the lookback period to 1 on the 5-minute chart and look at the 9:30am candle for a stock, then the current volume bar will show you what today’s volume is compared to yesterday’s 9:30am 5-minute candle. If you set the lookback period to 15, then the current volume bar will show you what today’s volume is compared to the average of the last 15 days of 9:30am 5-minute candles. Max Lookback: 64 Sessions Stocks This setting is for traders who want to use this indicator on a timeframe lower than the 5-minute chart. Due to limitations in how many historical bars PineScript can reference, referencing 1-minute and 3-minute bars requires a lot more historical data so I separated the two to allow the 5-minute+ timeframes to have a longer lookback period. Max Lookback: 12 Sessions Forex/Crypto When you set the script to Forex/Crypto, it does the same thing for stocks but calculates based on a 24-hour period. So if you set the lookback period to 1 on the 1-hour chart and look at the 11:00am candle for a currency pair, then the current volume bar will show you what today’s volume is compared to yesterday’s 11:00am 1-hour candle. If you set the lookback period to 10, then the current volume bar will show you what today’s volume is compared to the average of the last 10 days of 11:00am 1-hour candles. Max Lookback: 17 Sessions What Doesn’t It Work On? Because I had to manually calculate how many volume candles to look back per timeframe to get the previous session’s candle, I had to hard-code the math in this script. That means that this indicator will only work on 1m, 3m, 5m, 15m, 30m, 45m, 1h, 2h, 3h, 4h, Daily and Weekly timeframes. If you try to use it on any other timeframe it will revert to a regular volume indicator. Why Is It Useful? Similar to volume profile by price, this gives you a volume profile by time in a way that the default volume indicator does not. For example, you can use this to determine when a stock has a particularly strong opening drive, or when a currency pair has a weak fake-out leading up to the London open, or for general confirmation on trading signals with time-specific volume information to work with. Colors The purple line and the faint gray bar is the RVOL value. The blue number is the percentage of the current volume bar relative to RVOL. There are four different bar color settings: Heatmap – Changes color to be brighter based on higher RVOL Price – Changes color based on price action (like the default TradingView volume indicator) Traffic – Changes color based on RVOL percentages (for fast visual cues) Trigger – Changes color only when the specified alert conditions are met Heatmap: Traffic: Trigger: Price: Heatmap: Turns very bright green at 2.0 RVOL Turns light green at 1.0 RVOL Turns normal green at 0.75 RVOL Turns medium green at 0.5 RVOL Turns very dark green at 0.25 RVOL Is gray otherwise. Price: Turns red if the price action candle closed bearish. Turns green if the price action candle closed bullish. Traffic: Turns red if RVOL is between 1.0 and 1.5. Turns orange if RVOL is between 1.5 and 2.0. Turns dark green if RVOL is between 2.0 and 3.0. Turns bright green if RVOL is above 3.0. Is gray otherwise. Trigger: Turns teal if any of the given alert conditions in the user settings are met. Alerts Alerts are optional. You have to set them like any other indicator, by creating a new alert and selecting this indicator. If you leave the "Alert At RVOL %" setting at 0, then alerts will only be triggered if the current candle exceeds the 1.0 (100%) RVOL level. If you change the "Alert At RVOL %" setting then alerts will be triggered if the RVOL percentage (blue number) exceeds your given value. The blue number is a percentage of the average, so if it’s at 0.5, then it’s 50% of the average. Notes - This indicator only works with regular time bars. It will not work with range, tick, renko etc. - This script has lookback limitations due to restrictions on how many historical bars PineScript can reference. The lookback limit varies based on the market type you choose. The more bars required for calculation the lower the lookback limit. - If you use it on the Daily timeframe the lookback period will count as 1 week. If you use it on the Weekly timeframe the lookback period will count as 1 month. So a Lookback of 3 on the Daily would be 3 weeks of averages, a Lookback of 5 on the Weekly would be 5 months of averages (for that Day of Week or Week number). - Big thanks to @tb12345 for the idea and for helping to field-testing the indicator!
مؤشر Pine Script®
من ‎ZenAndTheArtOfTrading‎
119
AG Relative BandWidthThis is an indicator that we've been using for a while, very useful for identifying when the market is in a low volatility state. We use the bandwidth of the Bollinger Bands as a proxy for this, but we do something different - we ask the question of "relative to what?". Whereas typical Bollinger BandWidth indicators give values only applicable for that particular asset, the normalised nature of our Relative BandWidth indicator means that it works and be inferred the same across all assets and timeframes. A really handy tool! "After periods of low volatility come periods of high volatility" is a well-known theory, and this indicator helps to quickly and easily identify when markets are in low volatility states. Another name for the information our indicator shows is known as the "Bollinger squeeze". Trading breakouts of this squeeze in Bands can be a profitable strategy, given one can filter the false breakouts adequately. I have shown examples of when the indicator was showing low volatility, take note of what the price action and the width of the Bollinger Bands are doing. Every parameter is editable, so feel free to play around with the settings. The default settings are what we have used for a long time and have worked well.
مؤشر Pine Script®
من ‎Analog-Trading‎
AG Relative Currency Strength IndicatorThis is an indicator that we've been using for a while to pinpoint currencies that are strong/weak. By knowing which currencies are strong and weak, you can focus your attention on the currency pairs that are actually moving, or plan ahead when researching trades. This indicator gives the Relative Currency Strength, on any timeframe, for every major currency: USD, EUR, GBP, JPY, CHF, CAD, AUD, and NZD. The indicator includes labels if you need them (you can toggle on/off - default=off), but you will quickly get used to which colour line represents which currency. You can also choose to show/hide any currency, for isolation or clarity, e.g. only showing USD, EUR and JPY if that's all you're interested in. Note: due to how much data is being pulled in and processed, this indicator does take a while to load.
مؤشر Pine Script®
من ‎Analog-Trading‎
7
Volume Columns w. Alerts (V) [LucF]These are volume columns on steroids, for serious volume users. You can use the indicator to show volume columns or relative volume. You can define alerts using numerous conditions in both column and relative modes simultaneously. Multiple coloring schemes allow you to reveal volume columns in a much more useful light than the two-color standard. Features Seven Color Schemes Plain gray. Different color for columns above average MA. Standard green and red. Color gradient using the relative position of MA (default mode). The first 3 schemes allow for highlighting increasing volume columns. A gray column in an otherwise colored scheme indicates no change in price. Two Modes Column Mode: In this mode you can show the volume MA and mask the columns under it. The standard is an EMA because I think it better suits volume’s quick changes, but you can change it to the usual simple MA, as well as define its length. Relative Volume: Calculations have been kept rudimentary. Current volume is simply compared to the previous bar’s volume. In order to compensate for this, a multiple area mode also compares current volume to 5, 15, 50 and 200 periods MAs. You can choose to view only the main relative volume value. Relative volume is capped in order to prevent the loss of detail caused by wild increases. The default cap is 10, but you can define your own. Spikes that are capped show a dot at their top. A separate threshold (its default value is the standard 2) is included for relative volume; it is used to generate relative volume markers. Four Markers Bumps (marker 1): A bump occurs when an increasing volume column is above its MA and the candle’s close is above/below the previous close. Double Bumps (marker 2): A double bump occurs when 2 bumps are present in the last 3 bars. Volume Over MA (marker 3): Triggers whenever volume is above MA. This is the noisiest of the markers. Relative Volume (marker 4): This event occurs when relative volume crosses the pre-defined threshold. You can choose to only show long or short markers. Two Backgrounds You can choose to highlight the background on bumps and double bumps. Alerts You can define alerts on any combination of markers you configure. After defining the markers you want the alert to trigger on, make sure you are on the interval you want the alert to be monitoring at, then create the alert, select V, use the default “Configured Markers” alert condition and choose your triggering window (usually “Once Per Bar Close”). Once the alert is created, you can change the indicator's inputs with no effect on the alert. No worthwhile price movement exists without volume. It thus makes sense to define alerts on volume if you want to monitor markets. I use the markers to define two types of alerts. For general market scanning, I use markers 2 and 4 on high time frames. When I have identified a good opportunity for entry and am waiting for confirmation, I will often setup a custom alert for that market at a shorter time interval using markers 1 and 4. Notes Until we have access to delta volume information on TradingView, this indicator tries to get the most out of volume columns without using security calls at inside intervals to get more resolution on volume, because it slows things down considerably. The chart shows different combinations of color schemes and markers, along with my TLD indicator on the chart.
مؤشر Pine Script®
من ‎LucF‎
1
Volume+ (RVOL/Alerts)This indicator colors the volume bars based on any of the three follow criteria: - Volume Amount - RVOL (Relative Volume) - Lookback (Highest Over Period) You can use one, two or all three of these settings at the same time. You can also set alerts with this indicator. The script will trigger an alert whenever any of the three specified flags are triggered. RVOL is calculated as: Volume divided by Moving Average value. You can change the moving average period (and type) in the settings.
مؤشر Pine Script®
من ‎ZenAndTheArtOfTrading‎
24
Dorsey InertiaThis indicator was originally developed by Donald Dorsey (Stocks & Commodities, V.13:9 (September, 1995): "Refining the Relative Volatility Index"). Inertia is based on Relative Volatility Index (RVI) smoothed using linear regression. In physics, inertia is the tendency of an object to resist to acceleration. Dorsey chose this name because he believes that trend and inertia are related and that it takes more effort and energy to reverse the direction of a stock or market than to keep it in the same direction. He argues that the volatility is the simplest and most accurate measure of inertia. When the indicator is below 50, it signals bearish market sentiment and when the indicator is above 50 it signals a bullish trend. Good luck!
مؤشر Pine Script®
من ‎everget‎
5
RSI Divergence Smoothed with Signal Line and Power ZonesThis Indicator plots Regular and Hidden Divergences lines for an RSI smoothed by an EMA and for its Signal Line The RSI can be set to change colour with direction or can be set as single colour Colour Changing RSI helps when trading Multiple Timeframes as you can look for confluence in the direction of RSI The divergence script is thanks to @RicardoSantos, I've just adjusted it to suite my indicator Remember that divergences work best when traded with the trend or very late in a trend when going against the trend I have also added a Colour Changing Signal Line & Hima Reddy's Power Zones so now you can also Take full advantage of trading; signal line crosses, 50 crosses and Power Zone RSI support and resistance
مؤشر Pine Script®
من ‎Lij_MC‎
3
Relative Strength Index Multi Time frame RSII am always checking RSI on 1hr, 4Hr and Day RSI. Having to switch is annoying so wrote this little script to show RSI on upto 5 time frames. The green bold line is the current time frame, and you can change the other 4 to what you prefer. If one time frame is over sold or overbought you can change the back to indicated a buy or sell etc. Anyway thought I would share it. If you like it, please click the like button.
مؤشر Pine Script®
من ‎CryptoPeep‎
4
FofT - 1h, 4h, and Daily RSI in any time intervalView multiple-timeframe RSIs in a single interval. All RSI lines stay the same no matter your preference to trade in 15m, 1h, 3h…. etc. Default RSI length is 7 (can be changed in the format settings) All RSIs are smoothed out in default (can be changed in the format settings) Line colors 5m RSI - white (disabled in default) 15m RSI - Lime (disabled in default) 1h RSI - Yellow 4h RSI - Red D RSI - Blue Overbought and Oversold threshold colors >70 (grey) - overbought >80 (orange) - highly overbought >90 (pink) - extremely overbought =50 (black dotted lines) - equilibrium <30 (grey) - oversold <20 (orange) - highly oversold <10 (pink) - extremely oversold How to add to chart * Click on "Add to Favorite scripts" in the bottom right * While in chart view click on "/" button on your keyboard or click on the Indicators button on the top tool bar * Go to Favorites Tab and click on this indicator Other interval RSIs will be added based on request. Feel free to leave any questions or requests in the comment section below. If you find this script useful, please like and share.
مؤشر Pine Script®
من ‎FofT‎
3
Relative StrengthRelative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular index over the same time period". This indicator oscillates around zero. If the value is greater than zero, the investment has been relatively strong during the selected period; if the value is less than zero, the investment has been relatively weak. The period and the comparative symbol can be set in the settings for the indicator (the defaults are 50 and SPX), there you can also find an option to turn on a moving average.
مؤشر Pine Script®
من ‎modhelius‎
89
Relative Vigor Index with Dominant Cycle Detection (RVI)Relative Vigor Index with Dominant Cycle Detection. As Ehler's mentioned, fixed length look back is inherently flawed when it is possible to extract a length from a dominant price cycle. may be less effective if signal to noise ratio is greater than 2, but that usually would not happen at >5m candles, and honestly shouldn't be looking at RV(igor)I when price is moving sideways. Read just like an RVGI, but adjusted to the current time frame. To reduce noise, changing to heiken ashi will help with signals as well. Let me know if there are improvements! Made for JD, the OG.
مؤشر Pine Script®
من ‎anoojpatel‎
5