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Relative Volume (RVOL) - Beasley SavageRelative Volume, often times called RVOL, is an indicator that tells traders how current volume is compared to past trading volumes over a given period. It is kind of a like a radar for how “in-play” a stock is. The higher the relative volume is the more in play it is. Relative Volume is displayed as a ratio. So if it is showing 3.5 relative volume, that means it is trading at 3.5 times its normal volume.
مؤشر Pine Script®
من ‎BeasleySavage‎
15
Relative Volume RVOL AlertsRelative Volume or RVOL is an indicator used to help determine the amount of volume change over a given period of time. It is often used to help traders determine how in-play a ticker is. General rule of thumb is the higher the RVOL, the more in play a stock is. I myself like to use it as a substitute of the volume indicator itself. Basic Calculation: Relative Volume = Current Volume / Average Volume Crossover Signals: Any time there is a volume spike which causes a crossover of the user set 'Smoothed Moving Average' or 'Threshold' a green/red dot will appear at the top. The color of the dot is dependent on closing of the candle. Therefore it does not necessarily mean price will continue in that direction since volume spikes often happen in peaks or valleys. Threshold: The level at which custom alerts and signal can be set. The higher the value, the more volume required to trigger. Built in Alerts: You can set custom alerts for the crossovers of the adjustable threshold, or the average RVOL band.
مؤشر Pine Script®
من ‎oh92‎
36
Relative Volume (RV)Relative Volume take the volume at a given time of day and compares it to the average volume at that time of day. You can either use the current volume or the cumulative volume in this analysis. You have the option to either see the average and the current volume or a comparative view where you see the percent difference between now and the average. My implementation of relative volume uses a key-value pair to simplify the process of getting the average volume for the time of day. This reduces the lines of code needed and makes it easier to understand. I have added the normal features you would find in a relative volume indicator with the addition of an average above/below average section for comparing the significance of above/below average moves are. I hope this script is not only useful but educational. Enjoy
مؤشر Pine Script®
من ‎The_Peaceful_Lizard‎
Relative Volume (RVOL)Relative Volume is calculated by taking the ratio of current volume relative to a moving average of your choice. It gives you a quick way to see how much volume is involved in the current movement relative to a recent period. Features: -Customizable Moving Average: You can choose the period (default is 21) and type (SMA or EMA) -Customizable base level: Default setting is 1. -Smoothing option: Uses a Hull moving average to smooth out the RVOL area plot, by default its turned off. Enjoy!
مؤشر Pine Script®
من ‎FractalTrade_‎
2
Relative Volume Indicator (RVOL)Relative Volume Indicator (RVOL) is a powerful tool designed for intraday traders who want to quickly identify key areas of interest based on relative volume activity. This indicator compares the current candle’s volume with the historical average volume over a customizable lookback period (default is 20). It highlights when volume is: 🔴 Below average 🟡 Average 🟢 Above average 🟣 Extremely high ⚙️ Customizable Settings: Lookback period for average volume Volume thresholds (average, above average, extreme) Custom colors for each volume zone 🎯 Best suited for: Scalping strategies Breakout confirmation Volume-based entries at key support/resistance levels Spotting unusual or algorithmic trading activity 📈 Works across all timeframes. 🎨 Fully customizable from the settings panel. 🔔 Alerts coming in future versions.
مؤشر Pine Script®
من ‎alvaropozo5‎
Relative Volume Candles [QuantVue]In the words of Dan Zanger, "Trying to trade without using volume is like trying to drive a few hundred miles without putting gas in your tank. Trying to trade without chart patterns is like leaving without having an idea how to get there!" Volume tends to show up at the beginning and the end of trends. As a general rule, when a stock goes up on low volume, it's seen as negative because it means buyers aren't committed. When a stock goes down on low volume, it means that not many people are trying to sell it, which is positive. The Relative Volume Candles indicator is based on the Zanger Volume Ratio and designed to help identify key volume patterns effortlessly, with color coded candles and wicks. The indicator is designed to be used on charts less than 1 Day and calculates the average volume for the user selected lookback period at the given time of day. From there a ratio of the current volume vs the average volume is used to determine the candle’s colors. The candles wicks are color coded based on whether or not the volume ratio is rising or falling. So when is it most important to have volume? When prices break out of a consolidation pattern like a bull flag or cup and handle pattern, volume plays a role. When a stock moves out of a range, volume shows how committed buyers are to that move. Note in order to see this indicator you will need to change the visual order. This is done by selecting the the 3 dots next to the indicator name, scrolling down to visual order and selecting bring to front. Indicator Features 🔹Selectable candle colors 🔹Selectable ratio levels 🔹Custom lookback period*** ***TradingView has a maximum 5,000 bar lookback for most plans. If you are on a lower time frame chart and you select a lookback period larger than 5,000 bars the indicator will not show and you will need to select a shorter lookback period or move to a higher time frame chart. Give this indicator a BOOST and COMMENT your thoughts! We hope you enjoy. Cheers!
مؤشر Pine Script®
من ‎QuantVue‎
5
Relative Volume Index [PhenLabs]Relative Volume Index (RVI) Version: PineScript™ v6 Description The Relative Volume Index (RVI) is a sophisticated volume analysis indicator that compares real-time trading volume against historical averages for specific time periods. By analyzing volume patterns and statistical deviations, it helps traders identify unusual market activity and potential trading opportunities. The indicator uses dynamic color visualization and statistical overlays to provide clear, actionable volume analysis. Components • Volume Comparison: Real-time volume relative to historical averages • Statistical Bands: Upper and lower deviation bands showing volume volatility • Moving Average Line: Smoothed trend of relative volume • Color Gradient Display: Visual representation of volume strength • Statistics Dashboard: Real-time metrics and calculations Usage Guidelines Volume Strength Analysis: • Values > 1.0 indicate above-average volume • Values < 1.0 indicate below-average volume • Watch for readings above the threshold (default 6.5x) for exceptional volume Trading Signals: • Strong volume confirms price moves • Divergences between price and volume suggest potential reversals • Use extreme readings as potential reversal signals Optimal Settings: • Start with default 15-bar lookback for general analysis • Adjust threshold (6.5x) based on market volatility • Use with multiple timeframes for confirmation Best Practices: • Combine with price action and other indicators • Monitor deviation bands for volatility expansion • Use the statistics panel for precise readings • Pay attention to color gradients for quick assessment Limitations • Requires quality volume data for accurate calculations • May produce false signals during pre/post market hours • Historical comparisons may be skewed during unusual market conditions • Best suited for liquid markets with consistent volume patterns Note: For optimal results, use in conjunction with price action analysis and other technical indicators. The indicator performs best during regular market hours on liquid instruments.
مؤشر Pine Script®
من ‎PhenLabs‎
6
Relative Volume (rVol), Better Volume, Average Volume ComparisonThis is the best version of relative volume you can find a claim which is based on the logical soundness of its calculation. I have amalgamated various volume analysis into one synergistic script. I wasn't going to opensource it. But, as one of the lucky few winners of TradingClue 2. I felt obligated to give something back to the community. Relative volume traditionally compares current volume to prior bar volume or SMA of volume. This has drawbacks. The question of relative volume is "Volume relative to what?" In the traditional scripts you'll find it displays current volume relative to the last number of bars. But, is that the best way to compare volume. On a daily chart, possibly. On a daily chart this can work because your units of time are uniform. Each day represents a full cycle of volume. However, on an intraday chart? Not so much. Example: If you have a lookback of 9 on an hourly chart in a 24 hour market, you are then comparing the average volume from Midnight - 9 AM to the 9 AM volume. What do you think you'll find? Well at 9:30 when NY exchanges open the volume should be consistently and predictably higher. But though rVol is high relative to the lookback period, its actually just average or maybe even below average compared to prior NY session opens. But prior NY session opens are not included in the lookback and thus ignored. This problem is the most visibly noticed when looking at the volume on a CME futures chart or some equivalent. In a 24 hour market, such as crypto, there are website's like skew can show you the volume disparity from time of day. This led me to believe that the traditional rVol calculation was insufficient. A better way to calculate it would be to compare the 9:30 am 30m bar today to the last week's worth of 9:30 am 30m bars. Then I could know whether today's volume at 9:30 am today is high or low based on prior 9:30 am bars. This seems to be a superior method on an intraday basis and is clearly superior in markets with irregular volume This led me to other problems, such as markets that are open for less than 24 hours and holiday hours on traditional market exchanges. How can I know that the script is accurately looking at the correct prior relevant bars. I've created and/or adapted solutions to all those problems and these calculations and code snippets thus have value that extend beyond this rVol script for other pinecoders. The Script This rVol script looks back at the bars of the same time period on the viewing timeframe. So, as we said, the last 9:30 bars. Averages those, then divides the: . The result is a percentage expressed as x.xxx. Thus 1.0 mean current volume is equal to average volume. Below 1.0 is below the average and above 1.0 is above the average. This information can be viewed on its own. But there are more levels of analysis added to it. Above the bars are signals that correlate to the "Better Volume Indicator" developed by, I believe, the folks at emini-watch and originally adapted to pinescript by LazyBear. The interpretation of these symbols are in a table on the right of the indicator. The volume bars can also be colored. The color is defined by the relationship between the average of the rVol outputs and the current volume. The "Average rVol" so to speak. The color coding is also defined by a legend in the table on the right. These can be researched by you to determine how to best interpret these signals. I originally got these ideas and solid details on how to use the analysis from a fellow out there, PlanTheTrade. I hope you find some value in the code and in the information that the indicator presents. And I'd like to thank the TradingView team for producing the most innovative and user friendly charting package on the market. (p.s. Better Volume is provides better information with a longer lookback value than the default imo) Credit for certain code sections and ideas is due to: LazyBear - Better Volume Grimmolf (From GitHub) - Logic for Loop rVol R4Rocket - The idea for my rVol 1 calculation And I can't find the guy who had the idea for the multiples of volume to the average. Tag him if you know him Final Note: I'd like to leave a couple of clues of my own for fellow seekers of trading infamy. Indicators: indicators are like anemometers (The things that measure windspeed). People talk bad about them all the time because they're "lagging." Well, you can't tell what the windspeed is unless the wind is blowing. anemometers are lagging indicators of wind. But forecasters still rely on them. You would use an indicator, which I would define as a instrument of measure, to tell you the windspeed of the markets. Conversely, when people talk positively about indicators they say "This one is great and this one is terrible." This is like a farmer saying "Shovels are great, but rakes are horrible." There are certain tools that have certain functions and every good tool has a purpose for a specific job. So the next time someone shares their opinion with you about indicators. Just smile and nod, realizing one day they'll learn... hopefully before they go broke. How to forecast: Prediction is accomplished by analyzing the behavior of instruments of measure to aggregate data (using your anemometer). The data is then assembled into a predictive model based on the measurements observed (a trading system). That predictive model is tested against reality for it's veracity (backtesting). If the model is predictive, you can optimize your decision making by creating parameter sets around the prediction that are synergistic with the implications of the prediction (risk, stop loss, target, scaling, pyramiding etc). <3
مؤشر Pine Script®
من ‎kurtsmock‎
74
Relative Volume Intensity Control Chart***NOTE THE VOLUME OSCILATOR PROVIDED AT THE BOTTOM IS FOR COMPARSION AND IS NOT PART OF THE INDICATOR**** This indicator provides a comprehensive and a nuanced representation of volume relative to historical volume. The indicator aims to provide insights into the relative intensity of trading volume compared to historical data. It calculates two types of relative volume intensity: mean volume intensity and point volume intensity. The final indicator, "Relative_volume_intensity," is a combination of these two. 1. Point Volume Intensity: Calculate the ratio of the current volume to the corresponding SMA from the previous period for each of the periods. Normalize each ratio by dividing it by the corresponding normalized SMA. Assign weights to each normalized ratio and calculate the point volume intensity. Point volume intensity calculates the intensity of the current trading volume at a specific point in time relative to its historical moving average. It assesses how much the current volume deviates from the previous historical average for different lookback periods(current volume/ average volume of previous n days). The calculation involves dividing the current volume by the corresponding previous historical moving average and normalizing the result. The purpose of point volume intensity is to capture the immediate impact of the current volume on the overall intensity, providing a more dynamic and responsive measure. 2. Mean Volume Intensity: Calculate the simple moving averages (SMA) of the volume for different periods (5, 8, 13, 21, 34, 55, 89, 144). Normalize each SMA by dividing it by the SMA with the longest lookback (144). Assign weights to each normalized SMA and calculate the mean volume intensity. Mean volume intensity, on the other hand, takes a broader approach by looking at the mean (average) of various historical moving averages of volume. Instead of focusing on the current volume alone, it considers the historical average intensity over multiple periods. The purpose of mean volume intensity is to provide a smoother and more stable representation of the overall historical volume intensity. It helps filter out short-term fluctuations and provides a more comprehensive view of how the current volume compares to historical norms. Purpose of Both: Both point volume intensity and mean volume intensity contribute to the calculation of the final indicator, "Relative_volume_intensity." The idea is to combine these two perspectives to create a more comprehensive measure of relative volume intensity. By assigning equal weights to both components and taking a balanced approach, the indicator aims to capture both short-term spikes in volume and trends in volume intensity over a relatively extended periods. In calculation of both point volume intensity and mean volume intensity, shorter-term moving averages (e.g., 5, 8) have higher weights, suggesting a greater emphasis on recent volume behavior. Visualization: The script then calculates the mean and standard deviation of the relative volume intensity over a specified lookback length. Plot lines for the centerline (mean), upper and lower 3 standard deviations, upper and lower 2 standard deviations, and upper and lower 1 standard deviation. Plot the relative volume intensity as a step line with diamond markers. It is displayed like a control chart where we can see how the relative intensity is behaving when compared to longer historical lookback period.
مؤشر Pine Script®
من ‎federalTacos5392b‎
1
Relative Volume & RSI PopThis is a basic idea/script designed to take a breakout trade by taking advantage of volume spikes when price/strength is extended (either long or short). The script only utilises two indicators, the Relative Volume (RV) and the Relative Strength Index (RSI). The script allows the user to select a RSI value between 69 up to 100 for a long trade and between 35 down to 0 for short trade and then pair this with RV from 0 - 10. The period for both the RSI and RV can also be amended by the user but I found in most cases there was no benefit gained by changing away from normal "14" period lookback. The script typically only has small draw downs as the script is designed to exit the trade when the RSI returns back to "normalised" level, therefore the trades are generally quite short. The exit condition for a long trade is when RSI crosses back below 69 (which is why you cannot enter a long below this value) and for a short the, trade will close when RSI crosses back above 35 (which is why you cannot enter a short above this value). These exit values are locked. By allowing RSI value to go all the way up to "100" on the long side and "0" on the short side this in effect is a way of eliminating the script from taking either longs or shorts if lets say you wanted to back test the script for long only spikes or short only spike. E.G. By setting RSI upper value to "75" the RV to "1" and RSI lower value to "0" then no short trades will not be taken in your back test as the RSI never really gets down to zero. I put this together with meme stocks in mind and back tested it on day charts for AMC and then a few trending style stocks too. It typically worked best as long only and with RSI settings between 71 - 75 and RV at 1 or 1.5. I also found it had okay results on some lower 1hr timeframe futures markets and weekly time frames too (albeit trades were few and far between on weekly timeframe). The beauty of such a basic script you could easily set up a trading view screener to look for these opportunities everyday and perhaps even add in an ADX filter on the screener to see if the trend is increasing. Then use this script to run a back test on the stocks that you've selected from the screener.
استراتيجية Pine Script®
من ‎gary_trades‎
6
Relative Volume at Time█  OVERVIEW This indicator calculates relative volume, which is the ratio of present volume over an average of past volume. It offers two calculation modes, both using a time reference as an anchor.                                          █  CONCEPTS Calculation modes The simplest way to calculate relative volume is by using the ratio of a bar's volume over a simple moving average of the last n volume values. This indicator uses one of two, more subtle ways to calculate both values of the relative volume ratio: current volume:past volume . The two calculations modes are:  1 — Cumulate from Beginning of TF to Current Bar where:     current volume = the cumulative volume since the beginning of the timeframe unit, and     past volume = the mean of volume during that same relative period of time in the past n timeframe units.  2 — Point-to-Point Bars at Same Offset from Beginning of TF where:     current volume = the volume on a single chart bar, and     past volume = the mean of volume values from that same relative bar in time from the past n timeframe units. Timeframe units Timeframe units can be defined in three different ways:  1 — Using Auto-steps, where the timeframe unit automatically adjusts to the timeframe used on the chart:     — A 1 min timeframe unit will be used on 1sec charts,     — 1H will be used for charts at 1min and less,     — 1D will be used for other intraday chart timeframes,     — 1W will be used for 1D charts,     — 1M will be used for charts at less than 1M,     — 1Y will be used for charts at greater or equal than 1M.  2 — As a fixed timeframe that you define.  3 — By time of day (for intraday chart timeframes only), which you also define. If you use non-intraday chart timeframes in this mode, the indicator will switch to Auto-steps. Relative Relativity A relative volume value of 1.0 indicates that current volume is equal to the mean of past volume , but how can we determine what constitutes a high relative volume value? The traditional way is to settle for an arbitrary threshold, with 2.0 often used to indicate that relative volume is worthy of attention. We wanted to provide traders with a contextual method of calculating threshold values, so in addition to the conventional fixed threshold value, this indicator includes two methods of calculating a threshold channel on past relative volume values:  1 — Using the standard deviation of relative volume over a fixed lookback.  2 — Using the highs/lows of relative volume over a variable lookback. Channels calculated on relative volume provide meta-relativity, if you will, as they are relative values of relative volume. █  FEATURES Controls in the "Display" section of inputs determine what is visible in the indicator's pane. The next "Settings" section is where you configure the parameters used in the calculations. The "Column Coloring Conditions" section controls the color of the columns, which you will see in three of the five display modes available. Whether columns are plotted or not, the coloring conditions also determine when markers appear, if you have chosen to show the markers in the "Display" section. The presence of markers is what triggers the alerts configured on this indicator. Finally, the "Colors" section of inputs allows you to control the color of the indicator's visual components. Display Five display modes are available:  • Current Volume Columns : shows columns of current volume , with past volume displayed as an outlined column.  • Relative Volume Columns : shows relative volume as a column.  • Relative Volume Columns With Average : shows relative volume as a column, with the average of relative volume.  • Directional Relative Volume Average : shows a line calculated using the average of +/- values of relative volume.   The positive value of relative volume is used on up bars; its negative value on down bars.  • Relative Volume Average : shows the average of relative volume. A Hull moving average is used to calculate the average used in the three last display modes. You can also control the display of:  • The value or relative volume, when in the first three display modes. Only the last 500 values will be shown.  • Timeframe transitions, shown in the background.  • A reminder of the active timeframe unit, which appears to the right of the indicator's last bar.  • The threshold used, which can be a fixed value or a channel, as determined in the next "Settings" section of inputs.  • Up/Down markers, which appear on transitions of the color of the volume columns (determined by coloring conditions), which in turn control when alerts are triggered.  • Conditions of high volatility. Settings Use this section of inputs to change:  • Calculation mode : this is where you select one of this indicator's two calculation modes for current volume and past volume , as explained in the "Concepts" section.  • Past Volume Lookback in TF units : the quantity of timeframe units used in the calculation of past volume .  • Define Timeframes Units Using : the mode used to determine what one timeframe unit is. Note that when using a fixed timeframe, it must be higher than the chart's timeframe.   Also, note that time of day timeframe units only work on intraday chart timeframes.  • Threshold Mode : Five different modes can be selected:    — Fixed Value : You can define the value using the "Fixed Threshold" field below. The default value is 2.0.    — Standard Deviation Channel From Fixed Lookback : This is a channel calculated using the simple moving average of relative volume     (so not the Hull moving average used elsewhere in the indicator), plus/minus the standard deviation multiplied by a user-defined factor.     The lookback used is the value of the "Channel Lookback" field. Its default is 100.    — High/Low Channel From Beginning of TF : in this mode, the High/Low values reset at the beginning of each timeframe unit.    — High/Low Channel From Beginning of Past Volume Lookback : in this mode, the High/Low values start from the farthest point back where we are calculating past volume ,     which is determined by the combination of timeframe units and the "Past Volume Lookback in TF units" value.    — High/Low Channel From Fixed Lookback : In this mode the lookback is fixed. You can define the value using the "Channel Lookback" field. The default value is 100.  • Period of RelVol Moving Average : the period of the Hull moving average used in the "Directional Relative Volume Average" and the "Relative Volume Average".  • High Volatility is defined using fast and slow ATR periods, so this represents the volatility of price.   Volatility is considered to be high when the fast ATR value is greater than its slow value. Volatility can be used as a filter in the column coloring conditions. Column Coloring Conditions  • Eight different conditions can be turned on or off to determine the color of the volume columns. All "ON" conditions must be met to determine a high/low state of relative volume,   or, in the case of directional relative volume, a bull/bear state.  • A volatility state can also be used to filter the conditions.  • When the coloring conditions and the filter do not allow for a high/low state to be determined, the neutral color is used.  • Transitions of the color of the volume columns determined by coloring conditions are used to plot the up/down markers, which in turn control when alerts are triggered. Colors  • You can define your own colors for all of the oscillator's plots.  • The default colors will perform well on light or dark chart backgrounds. Alerts  • An alert can be defined for the script. The alert will trigger whenever an up/down marker appears in the indicator's display.   The particular combination of coloring conditions and the display settings for up/down markers when you create the alert will determine which conditions trigger the alert.   After alerts are created, subsequent changes to the conditions controlling the display of markers will not affect existing alerts.  • By configuring the script's inputs in different ways before you create your alerts, you can create multiple, functionally distinct alerts from this script.   When creating multiple alerts, it is useful to include in the alert's message a reminder of the particular conditions you used for each alert.  • As is usually the case, alerts triggering "Once Per Bar Close" will prevent repainting. Error messages Error messages will appear at the end of the chart upon the following conditions:  • When the combination of the timeframe units used and the "Past Volume Lookback in TF units" value create a lookback that is greater than 5000 bars.   The lookback will then be recalculated to a value such that a runtime error does not occur.  • If the chart's timeframe is higher than the timeframe units. This error cannot occur when using Auto-steps to calculate timeframe units.  • If relative volume cannot be calculated, for example, when no volume data is available for the chart's symbol.  • When the threshold of relative volume is configured to be visible but the indicator's scale does not allow it to be visible (in "Current Volume Columns" display mode). █  NOTES For traders The chart shown here uses the following display modes: "Current Volume Columns", "Relative Volume Columns With Average", "Directional Relative Volume Average" and "Relative Volume Average". The last one also shows the threshold channel in standard deviation mode, and the TF Unit reminder to the right, in red. Volume, like price, is a value with a market-dependent scale. The only valid reference for volume being its past values, any improvement in the way past volume is calculated thus represents a potential opportunity to traders. Relative volume calculated as it is here can help traders extract useful information from markets in many circumstances, markets with cyclical volume such as Forex being one, obvious case. The relative nature of the values calculated by this indicator also make it a natural fit for cross-market and cross-sector analysis, or to identify behavioral changes in the different futures contracts of the same market. Relative volume can also be put to more exotic uses, such as in evaluating changes in the popularity of exchanges. Relative volume alone has no directional bias. While higher relative volume values always indicate higher trading activity, that activity does not necessarily translate into significant price movement. In a tightly fought battle between buyers and sellers, you could theoretically have very large volume for many bars, with no change whatsoever in bid/ask prices. This of course, is unlikely to happen in reality, and so traders are justified in considering high relative volume values as indicating periods where more attention is required, because imbalances in the strength of buying/selling power during high-volume trading periods can amplify price variations, providing traders with the generally useful gift of volatility. Be sure to give the "Directional Relative Volume Average" a try. Contrary to the always-positive ratio widely used in this indicator, the "Directional Relative Volume Average" produces a value able to determine a bullish/bearish bias for relative volume. Note that realtime bars must be complete for the relative volume value to be confirmed. Values calculated on historical or elapsed realtime bars will not recalculate unless historical volume data changes. Finally, as with all indicators using volume information, keep in mind that some exchanges/brokers supply different feeds for intraday and daily data, and the volume data on both feeds can sometimes vary quite a bit. For coders Our script was written using the PineCoders Coding Conventions for Pine . The description was formatted using the techniques explained in the How We Write and Format Script Descriptions PineCoders publication. Bits and pieces of code were lifted from the MTF Selection Framework and the MTF Oscillator Framework , also by PineCoders. █  THANKS Thanks to dgtrd for suggesting to add the channel using standard deviation. Thanks to adolgov for helpful suggestions on calculations and visuals. Look first. Then leap.
مؤشر Pine Script®
من ‎TradingView‎
52
Relative Volume Indicator (RVOL)Relative Volume Indicator (RVOL) The Relative Volume Indicator (RVOL) helps traders identify unusual volume activity by comparing the current volume to the average historical volume. This makes it easier to spot potential breakouts, reversals, or significant market events that are accompanied by volume confirmation. What This Indicator Shows This indicator displays volume as a multiple of average volume, where: - 1.0x means 100% of average volume - 2.0x means 200% of average volume (twice the average) - 0.5x means 50% of average volume (half the average) Color Coding The volume bars are color-coded based on configurable thresholds: - Red: Below average volume (< Average Volume Threshold) - Yellow: Average volume (between Average Volume and Above Average thresholds) - Green: Above average volume (between Above Average and Extreme thresholds) - Magenta: Extreme volume (> Extreme Volume Threshold) Horizontal Reference Lines Three dotted horizontal reference lines help you visualize the thresholds: - Lower gray line: Average Volume Threshold (default: 0.8x) - Upper gray line: Above Average Threshold (default: 1.25x) - Magenta line: Extreme Volume Threshold (default: 4.0x) How To Use This Indicator 1. Volume Confirmation: Use green bars to confirm breakouts or trend changes - stronger moves often come with above-average volume. 2. Low Volume Warning: Red bars during price movements may indicate weak conviction and potential reversals. 3. Extreme Volume Events: Magenta bars (extreme volume) often signal major market events or potential exhaustion points that could lead to reversals. 4. Volume Divergence: Look for divergences between price and volume - for example, if price makes new highs but volume is decreasing (more yellow/red bars), the move may be losing strength. Settings Configuration - Average Volume Lookback Period: Number of bars used to calculate the average volume (default: 20) - Average Volume Threshold: Volume below this level is considered below average (default: 0.8x) - Above Average Threshold: Volume above this level is considered above average (default: 1.25x) - Extreme Volume Threshold: Volume above this level is considered extreme (default: 4.0x) - Colors: Customize colors for each volume category Important Note: Adjust threshold values only through the indicator settings (not in the Style tab). Changing values in the Style tab will not adjust the coloring of the volume bars. Adjust these settings based on the specific asset being analyzed and your trading timeframe. More volatile assets may require higher thresholds, while less volatile ones might need lower thresholds.
مؤشر Pine Script®
من ‎AlgoCollective‎
Relative Volume Standard DeviationThe Relative Volume Standard Deviation indicator is a powerful tool designed for traders seeking insights into volume dynamics. This indicator assesses the deviation of a security's trading volume from its moving average, shedding light on potential shifts in market sentiment. Key Features: -Length: Tailor the indicator's sensitivity by adjusting the length of the moving average. -Number of Deviations: Customize the analysis by specifying the number of standard deviations to consider. -Show Negative Values: Toggle the visibility of negative values in the plot for a comprehensive view. How it Works: -Moving Average Calculation: The script computes the simple moving average (SMA) of the trading volume over the specified length, providing a baseline for comparison. -Standard Deviation Analysis: It calculates the standard deviation of the volume, identifying deviations from the average volume. -Relative Volume Standard Deviation: The indicator then normalizes the difference between the volume and its moving average by the calculated standard deviation, producing a relative measure of volume deviation. -Visual Representation: The result is visually represented on the chart using columns. Green columns signify relative volume standard deviation values greater than or equal to the specified number of deviations, while red columns represent values below this threshold. -Enhancements: Show Deviation Level: Optionally, a dashed horizontal line at the specified deviation level adds an extra layer of analysis, aiding in the identification of significant deviations.
مؤشر Pine Script®
من ‎ES_Algo_Trader‎
Relative VolumeHello traders, "There's nothing new on Wall Street" is an age-old saying that still shows its relevance in modern day financial markets; volume still serves as a valuable tool for any trader just as it did for those that came and succeeded before us; in order to succeed in modern day markets one has to take it up a notch and dabble in complicated topics, like math. Now I dunno about you reader but I’m not keen on sitting around all day just to watch numbers on a screen; it’s pretty important to add some color into your life before it becomes dull but how can someone add colors into their trading toolkit as an aid rather than bother? With a bit of help from 3 other amazing open-source indicators you too can become a statistics enjoyer by combining math and colors to make pattern recognition much more intuitive and offering more peace of mind when trading. “Sir but how?”, glad you didn’t ask, it helps with simplifying statistics, in this case a Gaussian bellcurve “HUH?”, you say? Alright class, Gaussian bellcurves for math dislikers 101 is in session - Imagine that we have a bunch of numbers that we want to graph. We could just draw a line and plot the numbers on it, but that might not be very interesting. - Instead, we can use the shape of a bell to show how many of each number we have. - Let's say we have a lot of people and we want to graph how tall they are. We would start by making a line from the shortest person to the tallest person, and then we would draw the bell shape around the line. - The bell shape is called a "Gaussian Bell Curve," and it shows us how many people are a certain height. - In the middle of the bell, where it's the widest, we have the most people who are about average height. As we move to the sides of the bell, the curve gets lower because there are fewer people who are really tall or really short. The bell curve discussed is the main idea for the candle coloring component of this indicator as being able to analyze the distribution of an entire dataset, in this case volume, can alert us when volume/participation in the market is away from its average using color, and therefore an opportunity could be present. Fair warning, it’s important to not strictly focus on volume as volume is meant to be confluence to the current structure of the market rather than causing tunnel vision. Why 3 indicators to combine? It starts with the RVOL by Mik3Christ3ns3n indicator as the backbone by calculating the average volume over a specified period of time, and then compares each new volume value to this average to determine whether it is above or below the average. The indicator then normalizes the volume data and calculates the z-score/standard deviation to determine whether the volume is within normal range or is an anomaly beyond a specified threshold which can also be set into an alert to aid in eyeing possible opportunities. The code also includes Candle Coloring by Morty as it calculates a function to get the z-score for the size of the candle's body, and then compares it to the z-score for volume to determine whether the body size is a factor in the price action. Finally, the code plots the anomalies and the normalized volume data on the chart using the first RVOL indicator mentioned, and colors the bars of the chart based on whether they are within normal range or are anomalies which comes from using code from veryfid's relative volume indicator. Overall, this custom technical indicator is best used to identify unusual changes in trading volume, which may indicate potential price movements in the underlying. How about some examples? This first example is for my scalpers wanting to get in and out but not having much of an idea where or let alone how; using a tool like VWAP can be great for determining the area value to execute mean reversion trades once a speculator spots a colored candle anomaly at standard deviation band. Works best when VWAP is flat as it signals lack of conviction from both bulls and bears This second example is for my fire and forget intraweek swing traders who want to execute a higher timeframe trend-following bias. A speculator starting 2023 off notices that the negative sentiment around Binance from late last year has quieted down and has conviction in upside after BTC began an uptrend as monthly VWAP (right chart) has began sloping up as well as a rally with momentum shown with the blue colored candle so the trader waits wait for a pullback for entry. On the chart to the left of the 4H the speculator notices a pullback into the area of interest to do business so a limit bid is left to enter for continued upside in Bitcoin through January 2023 just by keeping things simple That’s really the main purpose of this indicator: simplicity of statistics for confluence using volume Volume precedes price and price moves only for narrative to follow- why wait for your subjective Twitter timeline to give you a biased narrative to trade when you can use objective analysis by combining statistics and colors to allow for a cleaner execution process “But what about risk management?” Glad you didn’t ask reader! One last example then, we meet our trend following trader again feeling euphoric so they know profit taking season is coming soon but wants to leave emotion out of it. How to go about it? Same idea as our last trend following example: we see on the 4h chart to the right side shows Bitcoin lose and trade back within the 2nd standard deviation of quarterly VWAP which is telling our speculator that the uptrend has broken on top of which notices on the 30 minute chart on the left that aggressive market buyers have been steadily absorbed by limit sellers on multiple occasions of retesting 30,500 shown with the green colored candles and volume bars below, time to sell. Turns out that selling was proactive risk management because price dumped thereafter Hope this explanation gave you some useful insights on using statistics as colors from cherrypicked examples, remember that just because my examples are cherrypicked doesn’t invalidate these concepts at all as the market only does two things, initiate aggressive auctions and respond passively to auctions. This tool makes for seeing where that initiative aggressive activity is happening much simpler to deduce if others will respond to an anomaly of initiative aggressive activity or if the aggression will continue. If there’s just one thing you take from this- simplicity above all, cheers and good luck
مؤشر Pine Script®
من ‎starstudded‎
4
Relative Volume Prices Index by @WilliamBeliniWhat is the impact for Volume to the Prices? To respond this question, I formulate the hipótesis if a little Volume change a lot the Price, it's a reversion signal, and if a lot of Volume change a little the price, it´s because the price is established. This is one of 3 indicators created to improve this hipótesis, named: 1. Relative Volume Prices Index by @WilliamBelini (RVPI) 2. Relative Market Status by @WilliamBelini (RMS) 3. Trade Trigger RVPI by @WilliamBelini (TTR) - The first show you the effect from volume to the prices, meas the sensibility of the variation; - The second show you the feeling of the market by cicles, based at the cumulative average sensibility from the RVPI indicator; - The third show you a trigger to trading positions, with the analysis of the historical RVPI data, based on the normal distribution of the futures price variation, by previos RVPI values and some rules created based on data behaviors identified. To the end of this work, I can comprove the hipótesis, with simulations trading based from the TTR. How we can´t monetize our work here, on TradingView platform, I´m disponibilize 2 of 3 indicators for you here free. If you want to have the third, discover how to contact with me (@ ;), and for me will be a pleasure to help you.
مؤشر Pine Script®
من ‎wbelini‎
Relative VolumeIt is difficult to know how much volume is going on DURING the last bar, therefore this "Relative Volume" (RV) script, previous bars are as usual, but the last one adjusts the measured volume by comparing how much time passed and multiplying this with the volume. Examples: Here (5 minute bar) there are 31 sec passed of the 5 minutes The standard volume show little volume (since there is only 31s passed) The "RV" multiplies this so you'll see how much this volume would be over 5 minutes, IF everything goes the same for the rest of the 5'. 1' 5sec passed: (so relatively more volume) 3' 4sec passed: (With about 2' to go, you see there is a lot going on with the volime, while seeing the standard volume, nothing much...) Little 4' passed: 4,5': Almost 5' gone: Important: This "RV" volume can diminish when during the bar the volume fades. I think this can help evaluating the volume during the last bar W example: M example: (You can clearly see that during the first 4 days there is a lot going on!)
مؤشر Pine Script®
من ‎fikira‎
5
Relative Volume at TimeThe Relative Volume at Time indicator (RVOL) is a simple modification of the original Relative Volume at Time script available in TradingView’s public library. It doesn’t change how the indicator works but includes two small adjustments: Added Color Options – The ability to customize the colors of the volume bars, which was important to me as I use this indicator all the time and wanted more visually suitable colors. Renamed Short Title – The abbreviation "RVOL" replaces "RelVol", as it's a more commonly used term in trading. Aside from these small tweaks, the indicator retains all of its original functionality, including the ability to set an anchor timeframe, choose between Regular and Cumulative volume calculation modes, and adjust unconfirmed volume for incomplete bars. This version exists simply because I needed a more personalized display for an indicator that I rely on daily. How It Works The Relative Volume at Time indicator compares the current volume to the average volume at the same time in previous sessions. This helps determine if today’s activity is higher or lower than usual. Examples On a daily chart (1D timeframe, length = 10), each volume bar compares today's volume to the average volume at the same time over the last 10 days. If today’s volume is higher than usual at this moment, the bar will reflect that. On an hourly chart (1H timeframe, length = 5), each hourly volume bar compares the current hour’s volume to the same hour in the past 5 days. If the 10 AM bar is high, it means today's 10 AM volume is greater than the average of the past 5 sessions at 10 AM. On a weekly chart (1W timeframe, length = 8), the indicator compares this week’s volume to the average of the last 8 weeks. A higher bar means this week is seeing significantly more volume than usual. This logic applies to any timeframe. It always compares the current volume to past volumes at the same point in time. @Julien_Eche
مؤشر Pine Script®
من ‎Julien_Eche‎
9
Indicator: Relative Volume Indicator & Freedom Of MovementRelative Volume Indicator ------------------------------ RVI is a support-resistance technical indicator developed by Melvin E. Dickover. Unlike many conventional support and resistance indicators, the Relative Volume Indicator takes into account price-volume behavior in order to detect the supply and demand pools. These pools are marked by "Defended Price Lines" (DPLs), also introduced by the author. RVI is usually plotted as a histogram; its bars are highlighted (black, by default) when the volume is unusually large. According to the author, this happens if the indicator value exceeds 2.0, thus signifying that a possible DPL is present. DPLs are horizontal lines that run across the chart at levels defined by following conditions: * Overlapping bars: If the indicator spike (i.e., indicator is above 2.0 or a custom value) corresponds to a price bar overlapping the previous one, the previous close can be used as the DPL value. * Very large bars: If the indicator spike corresponds to a price bar of a large size, use its close price as the DPL value. * Gapping bars: If the indicator spike corresponds to a price bar gapping from the previous bar, the DPL value will depend on the gap size. Small gaps can be ignored: the author suggests using the previous close as the DPL value. When the gap is big, the close of the latter bar is used instead. * Clustering spikes: If the indicator spikes come in clusters, use the extreme close or open price of the bar corresponding to the last or next to last spike in cluster. DPLs can be used as support and resistance levels. In order confirm and refine them, RVI is used along with the FreedomOfMovement indicator discussed next. Freedom of Movement Indicator ------------------------------ FOM is a support-resistance technical indicator, also by Melvin E. Dickover. FOM is the ratio of relative effect (relative price change) to the relative effort (normalized volume), expressed in standard deviations. This value is plotted as a histogram; its bars are highlighted (black, by default( when this ratio is unusually high. These highlighted bars, or "spikes", define the positioning of the DPLs. Suggestions for placing DPLs are the same as for the Relative Volume Indicator discussed above. Note that clustering spikes provide the strongest DPLs while isolated spikes can be used to confirm and refine those provided by the Relative Volume Indicator. Coincidence of spikes of the two indicator can be considered a sign of greater strength of the DPL. More info: S&C magazine, April 2014. I am still trying these on various instruments to understand the workings more. Don't forget to share what you learn -- any use cases / ideal scenarios / gotchas, would love to hear them all.
مؤشر Pine Script®
من ‎LazyBear‎
25