Advanced Volume-Driven Breakout SignalsThe "Advanced Volume-Driven Breakout Signals" indicator is a cutting-edge tool designed to help traders identify high-potential trading opportunities through sophisticated volume analysis techniques. This indicator integrates volume flow analysis, moving averages, and Relative Volume (RVOL) to provide a comprehensive view of market conditions, going beyond traditional Volume Spread Analysis (VSA) methods.
Key Features:
Volume Flow Analysis: Distinguishes bullish and bearish volume flows with distinct colors, making it easier to visualize market sentiment and potential breakout points.
Volume Flow Moving Averages: Calculates moving averages for volume using various methods (SMA, EMA, WMA, HMA, VWMA), accommodating different trading strategies. This includes settings for adjusting the type of moving average and its period, as well as thresholds for high, medium, and low volume levels.
Volume Spikes Detection: Identifies significant volume spikes based on user-defined multipliers and moving averages, highlighting unusual trading activity.
Volume MA Cloud Settings: Computes general moving averages of volume to track trends and detect deviations. This feature includes options to select different moving average types and adjust thresholds for detecting high volume activity.
Relative Volume (RVOL): Measures current volume relative to historical averages, triggering signals when RVOL exceeds predefined thresholds, indicating notable changes in trading activity.
Entry Conditions: Provides clear long and short entry signals based on combined volume flow conditions and RVOL, offering actionable trading opportunities.
Volume Visualization:
— Bullish Volume Flow: Light and dark green bars indicate bullish volume flow.
— Bearish Volume Flow: Light and dark red bars denote bearish volume flow.
— High Volume Bars: Highlighted in yellow, and extreme volume bars in orange for additional context. These bars are plotted for visual aid and do not directly influence trade signals, focusing instead on the quality and strength of the volume flow.
Alerts: Allows users to create alert notifications for long and short entry signals when the criteria are met, enabling traders to respond promptly to trading opportunities.
Usage:
Overlay: Apply the indicator directly to your price chart to visualise real-time signals and volume conditions.
Customisable: Adjust settings for moving averages, RVOL, and other parameters to match your trading strategy and preferences.
Comparison to VSA Scripts: The "Advanced Volume-Driven Breakout Signals" indicator extends beyond traditional VSA scripts by incorporating a wider range of analytical features. While VSA primarily focuses on volume spread patterns and price action, this indicator offers enhanced functionality with advanced RVOL metrics, customizable moving averages, and detailed volume spike detection, making it a more versatile tool for identifying breakout opportunities and managing trades. It is particularly effective when used alongside key levels and order blocks.
Acknowledgements: Special thanks to @oh92 and @goofoffgoose for their invaluable scripts, which served as inspiration in the development of this advanced trading indicator.
Notes: The script is continually evolving, with ongoing refinements aimed at enhancing accuracy and performance.
Rvol
Enhanced Volume by SR7SiddharthaRay007's Enhanced Volume Indicator works on any Timeframe
⦿ Volume Labels:
1. Current Volume, Volume Change%, Average Volume, Average Doller Volume, Up/Down Ratio, ADR%.
=>Average value can be changed using 'Lookback Length' (Default: 20)
⦿ Simple Moving Average: MA (Default: 50). Color of MA changes based on the up down volume ratio.
1. Up/Down Ratio > 1: Blue
2. Up/Down Ratio < 1: Orange
⦿ Volume Bar Colors:
1. High Relative Volume Positive Candle: Lime Green .
2. High Relative Volume Negative Candle: Red .
3. Normal Volume Positive Candle: Blue .
4. Normal Volume Negative Candle: Fuchsia .
5. Low Relative Volume Positive/Negative Candle: Orange .
=>High Relative Volume > 300% of Average Volume; Low Relative Volume < 30% of Average Volume
⦿ Pocket Pivot (A pocket pivot is an up day with volume greater than any of the down days volume in the past 10 days)
1. 10 day Pocket Pivots: Lime Green Diamond below volume bar
2. 5 day Pocket Pivots: Blue Diamond below volume bar
⦿ 'Highest Volume (HV) ' on top of the Volume Bar:
1. Highest Volume Ever (HVE)
2. Highest Volume in Over a Year (HVY)
⦿ Projected Volume Bar: Aqua
⦿ Plot a line at 2x and 3x Average Volume and set Alerts
RVOL++Overview
RVOL++ is a valuable tool for intraday traders to gauge market participation and anticipate the pace of the market. By understanding the RVOL levels, traders can adjust their strategies and expectations to align with the current market conditions. RVOL is a simple mathematical formula that compares the current volume to a prior lookback period, such as the previous 5 days or previous 10 days. This indicator helps traders understand the level of interest or participation in the market, which in turn can indicate the speed or pace of the market.
How to calculate RVOL at Time
Check if the current time is within the specified time period (e.g., 9:30 AM to 5:00 PM EST).
If it is, calculate the current cumulative volume for that period.
Find the average cumulative volume for the same period over the past X days (where X is the lookback period).
Calculate the RVOL at Time as:
RVOL at Time =(Current Cumulative Volume/Average Cumulative Volume)×100
For more info about calculating RVOL at time please refer to the Tradingview article.
www.tradingview.com
Key Features of RVOL++
Two Session and Daily Modes: In Two Session mode, it calculates RVOL for two distinct trading sessions, while in Daily mode, it calculates RVOL for the entire trading day. Two Session mode helps for instruments like futures, forex, crypto that trade 23+ hours. If you are using an instrument such as a stock like AAPL, if you don't have pre-market/extended hours enabled you will want to use "Daily Mode".
Session Time Settings: The indicator allows users to define the trading session times in Eastern Standard Time (EST) for more accurate RVOL calculations.
Customizable Lookback Period: Users can set the number of days for the lookback period, allowing for flexibility in calculating the average volume at time (RVOL).
Color-Coded RVOL Histogram: The indicator displays a color-coded histogram to visualize RVOL levels. Different colors represent different RVOL ranges, making it easy to identify low, neutral, and high RVOL periods.
RVOL Ranges**: The indicator defines RVOL ranges as follows:
40 - 80: Low RVOL (Red/Yellow)
80 - 120: Neutral RVOL (Blue/Cyan)
120+: High RVOL (Green-Lime)
Low RVOL Environment
Expect slow market movement with limited opportunities.
Focus on A+ setups and be selective.
Use tighter stops, size down, and adjust trading goals.
Neutral RVOL Environment
Expect a more normalized trading pace with frequent rotations.
Lean on structure and incorporate other trading tools.
Use normal sizing and stop management.
High RVOL Environment
Expect the best opportunities for range expansion and rotations.
Be more relaxed about overtrading but stay focused on structure.
Start with smaller initial size and build up to a full position.
Volume Suite - By Leviathan (CVD, Volume Delta, Relative Volume)Volume Suite is an all-in-one script that includes several volume-based indicators such as CVD, Volume Delta, Relative Volume, Buy/Sell Volume, Cumulative Relative Volume and more. Additionally, it offers fully customisable appearance and features for improved data visualization, such as highlights for high volume activity, small price changes with high volume, or large price changes with low volume and more.
Data available in version 1:
- Volume Delta
Volume Delta is the net difference between Buy Volume and Sell Volume at a given bar. Positive Delta indicates that Buy Volume > Sell Volume, while Negative Delta means that Sell Volume > Buy Volume. As there is not way to get tick data on Tradingview, calculating Volume Delta is improvised by using the direction of lower timeframe candles and their volume.
- Cumulative Volume Delta (CVD)
CVD is a running total/cumulation of Volume Delta values, where positive VD gets added to the sum and negative VD gets subtracted from the sum. It can be used for trend strength analysis, divergence strategies, sentiment, etc.
- Buy/Sell Volume
Buy and Sell Volume provides an insight into volume activity in a given bar by estimating the buying/selling volume based on the direction of lower timeframe candles and their volume.
- Relative Volume
Relative Volume is used to compare current trading volume to past trading volume over a given period. For instance, a relative volume of 1.0 indicates that volume is at an average level, while a relative volume of 2.0 suggests that the volume is twice as high as the average.
- Cumulative Relative Volume (CRVOL)
CRVOL is a running total/cumulation of Relative Volume values, where RVOL at close>open gets added to the sum and RVOL at close<open gets subtracted from the sum. It can be used for trend strength analysis, divergence strategies, sentiment, etc.
Alerts, aggregated data and more data sets coming in future updates.
Swing Data - ADR% / RVol / PVol / Float % / Avg $ VolThis table presents consolidated data that swing traders can refer to quickly for their benefit. I am of the firm belief that the information provided in this uncomplicated table is precisely what you require to optimize your trading efficiency, and ultimately, profitability.
The data includes;
1. Market Capitalization - a measure of the total value of a publicly traded company's outstanding shares.
2. Float % - the percentage of a company's outstanding shares that are available for trading on the open market. It is calculated by dividing the number of a company's outstanding shares that are available for trading on the open market by the total number of outstanding shares. A lower float percentage generally means that there are fewer shares available for trading, which can lead to increased volatility in the stock price. On the other hand, a higher float percentage generally means that there are more shares available for trading, which can lead to greater stability in the stock price.
3. ADR% - a technical analysis indicator that measures the average daily price movement as a percentage of its current price. It is calculated by taking the difference between the average high and low prices for a time period, and then dividing it by the current price. The resulting value is then multiplied by 100 to give the ADR% for that day. The ADR% can be useful for traders to assess the potential volatility of a stock. A higher ADR% indicates a greater potential for price movement.
4. ATR - measures the range of price movements of an asset over a specified period of time, taking into account any gaps in price. It is calculated by taking the highest value of the following three values:
The difference between the current high and the current low
The absolute value of the difference between the current high and the previous close
The absolute value of the difference between the current low and the previous close
The resulting value is then averaged over the specified period of time to create the ATR value. This indicator is reflects the average volatility of the asset over the specified period of time.
5. LoD dist. - also refer to Low Of Day distance, a range level gauge of current price based on historical volatility of the price movement, in this case I use ATR. for the historical volatility. Please find below as example for the calculation.
eg. LoD dist. = 104%
Current price (A) = $24.49
Low Price (B) = $22.16
Difference (A) - (B) = $2.33
ATR = $2.25
LoD dist = $2.33 / $2.25 = 103.55% (round up to nearest whole number = 104%)
6. Average Daily $ Volume - used to measure the average amount of money that is traded in a stock or a security over a particular period of time, typically a day. It is calculated by multiplying the average daily trading volume of a security by its average price.
7. Average Daily Volume - used to measure the average no. of share that is traded in a stock or a security over a particular period of time, typically a day.
8. Projected Volume - an estimate of the total volume of trading activity that is expected to occur for the day (from the specific time data), based on an average volume over a specific period of time. Projected volume can be used by traders and investors to help make informed decisions about buying or selling securities, and can also be used as an indicator of market sentiment and volatility. However, it's important to note that projected volume is an estimate and actual trading activity may vary.
9. Relative Volume - a measure of the volume of a stock that is trading at the specific time, relative to its average trading volume over a longer period. It is expressed as a percentage and is often used by traders and investors to identify stocks that are trading with higher or lower than usual volume.
Multi Exchange Relative Volume - FOREXHello traders! This is my first script that I will publish here. This script calculates the relative volume based on the average volume at that time of the day across different brokers.
4C Volume w/ Relative Volume at TimeThis is a Volume indicator that also shows Relative Volume at Time (RVOL).
The RVOL is easily visible as a background color, that changes between Low and High RVOL colors.
The RVOL portion of the indicator is a modified version of the 'Relative Volume At Time' indicator by Tradingview (which has been the best/most accurate RVOL indicator i have seen yet on Tradingview, and seems to closely match the how the "Zanger Volume" indicator works).
Elevated RVOL can be a very important criteria for trading , especially on lower time frames.
This indicator can be used as a simple filter when looking at charts to determine whether it should be traded or not, based on the RVOL.
Higher volume/participation relative to previous time periods can lead to better follow through of moves and price action, and can lead to trending conditions.
Lower RVOL can lead to choppy market conditions, with lower participation and follow through on chart patterns.
The RVOL portion of the indicator draws from the Tradingview 'Relative Volume At Time' indicator developed by authors @e2e4mfck and @LucF , for TradingView.
This indicator takes the Past Volume mark and changes it into a background color.
High RVOL = When the day's cumulative volume is greater than the Past Volume levels, then the background is painted Blue by default
Low RVOL = When the day's cumulative volume is lower than the Past Volume levels, then the background is painted Purple by default
See annotated examples in the chart Below, which compares/contrasts this new indicator with the RVOL indicator by Tradingview:
Portions of the 'Relative Volume At Time' indictor code have been removed to clean up the script.
Plans in the future are to remove more code were possible, to further refine the script and speed up the processing times for the indicator.
If anyone is able to strip out more and keep it functioning the same, please let me know.
Enjoy.
Credit also goes to author @LazyBear . Portions of the Volume indicator is adapted from - HawkEye Volume Indicator
Volume x Price in Crores + RVolScript is designed predominantly for Indian users. Many are used to looking at numbers in lakhs and crores vs millions and billions, this provides a volume figure in rupee crores.
Formula is last close_price x volume / 1 cr or (close_price x volume /10000000). The second figure is the simple moving average (default to 20sma ) again in rupee crores. The third is the relative volume - todays volume / 20 day moving average.
Helpful especially when putting on a trade for a thinly traded stock. It is a quick gauge to how large or small one would want to buy or avoid. Helps manage risk. Also, great to see large volumes in crores to gauge institutional buys or sells.
On 10/NOV/21 - In the chart displayed here, Titan volumes are on average quite substantial as one can see. The 20 day moving average is 550 CR+. 10/NOV volumes are shown as 226 CR and the RVOL is 0.41 (226/550).
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
Relative Volume Screener AlertsThis script will screen 12 different stocks and current chart (13 in total) for entry points from my relative volume indicator.
1. Enter in any ticker ID's from charts you wish to scan in the settings.
2. Go to desired timeframe.
3. Click add alert button at top toolbar.
4. Select RVOL Screener Alerts indicator, input alert notification settings and/or change alert name and click create.
The script will then scan the stocks and alert you of any entry points from the timeframe you set the alerts.
A new alert needs to be created for each timeframe you wish to screen.
You can find my relative volume indicator here:
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!
Relative Volume - ETHEREUMRelative Volume indicator that pulls data from 9 different Ethereum exchanges. Please note that this indicator only works with ETH and will not use data from your current chart.
Includes the following exchanges:
BYBIT:ETHUSD
BITFINEX:ETHUSD
BITSTAMP:ETHUSD
INDEX:ETHUSD
COINBASE:ETHUSD
FTX:ETHUSD
PHEMEX:ETHUSD
BITTREX:ETHUSD
POLONIEX:ETHUSDT
Relative Volume - BITCOINRelative Volume indicator that pulls data from 9 different Bitcoin exchanges. Please note that this indicator only works with BTC and will not use data from your current chart.
Includes the following exchanges:
BYBIT:BTCUSD
BITFINEX:BTCUSD
BITSTAMP:BTCUSD
INDEX:BTCUSD
COINBASE:BTCUSD
FTX:BTCUSD
PHEMEX:BTCUSD
BITTREX:BTCUSD
POLONIEX:BTCUSDT
Relative VolumeVolume can be a very useful tool if used correctly. Relative volume is designed to filter out the noise and highlight anomalies assisting traders in tracking institutional movements. This tool can be used to identify stop loss hunters and organized dumps. It uses a variety of moving averages to hide usual activity and features an LSMA line to show trend. Trend columns are shown to highlight activity and can be seen at bottom of the volume columns, this is done using ZLSMA and LSMA.
The above chart shows an example of 2 indicators being used on the 15 min chart. The bottom indicator is set to the 1 min chart. Traders can see a large dump on the 1 min chart as institutions wipe out any tight stop losses. Next they buy back in scooping up all those long positions.
This is an example layout using a split screen setup and multiple timeframes ranging from 1 min to 30 mins. This gives a clear indication of trends and make it easy to pickup on institutional behaviour. Tip: Double clicking indicator background will maximize RVOL to the split screen window.
MACD, RSI, & RVOL Strategy
This strategy combines the use of MACD (12, 26, 9), RSI (14, 30, 70), and RVOL (14) to create Long Buy and Sell signals. This works well with many different time intervals but was developed with 15-minute intervals in mind.
Using MACD as a reference, the strategy identifies when the MACD line crosses over (a factor in a buy signal) and under (a factor in a Sell signal) the Signal line. This shows a shift in positive (cross over) and negative (cross under) of a security.
Using the Relative Strength Index ( RSI ) as an indicator, the strategy notices when the velocity and magnitude of the directional price movements cross over the Oversold signal (30) and crosses under the Overbought signal (70) as a factor in creating a Buy and Sell signal.
Using Relative Volume (RVOL) as an indicator, the strategy calculates when the current volume has crossed over the 2x average volume indicator over a given period and is then used as a factor in creating a Buy signal. RVOL is also used when the change in volume crosses under a set RVOL number (in this strategy, it is set to a RVOL of 5).
RVOL = Current Volume / Average Volume over a certain period
This strategy indicates a Buy signal when 2/3 conditions are met:
- RSI Cross Over the Over Sold signal (default 30)
- MACD Cross Over of Signal ( MACD > Signal)
- RVOL Cross Over of 2 (RVOL > 2)
This strategy indicates a Sell signal when 2/3 conditions are met:
- RSI Cross Under the Over Bought signal (default 70)
- MACD Cross Under of Signal ( MACD < Signal)
- RVOL Cross Under 5 (RVOL < 5)
Enjoy and leave feedback!
HamStar Tweezer Engulfing DetectorStandard candle pattern identifier like many already available, however this one allows to filter with ATR or RVOL to help remove false signals.
Please comment any suggestions, questions or requests.
*Disclaimer*
some of the pattern logic was located throughout the internet and is not mine. I have simply cobbled it together and added the filters.
Relative VolumeRelative Volume label in percent. So 400% RVol means, today's volume is 4x compared to avg volume for the length you selected.
DTR vs ATR w RVolDTR vs ART along with Relative Volume in Percentage. So if you see RVol as 200% with input length of 10 days, today's volume is 2x compared to past 10 days. It helps if today's volume is already reached 20% or 30% within 30mins of market open, etc.
Relative Strength of Volume Indicators by DGTThe Relative Strength Index (RSI) , developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements.
• Traditionally the RSI is considered overbought when above 70 and may be primed for a trend reversal or corrective pullback in price, and oversold or undervalued condition when below 30. During strong trends, the RSI may remain in overbought or oversold for extended periods.
• Signals can be generated by looking for divergences and failure swings. If underlying prices make a new high or low that isn't confirmed by the RSI, this divergence can signal a price reversal. If the RSI makes a lower high and then follows with a downside move below a previous low, a Top Swing Failure has occurred. If the RSI makes a higher low and then follows with an upside move above a previous high, a Bottom Swing Failure has occurred
• RSI can also be used to identify the general trend. In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range with the 40-50 zone acting as support. During a downtrend or bear market the RSI tends to stay between the 10 to 60 range with the 50-60 zone acting as resistance
This study aim to implement Relative Strength concept on most common Volume indicators, such as
• Accumulation Distribution is a volume based indicator designed to measure underlying supply and demand
• Elder's Force Index (EFI) measures the power behind a price movement using price and volume
• Money Flow Index (MFI) measures buying and selling pressure through analyzing both price and volume (used as it is)
• On Balance Volume (OBV) , created by Joe Granville, is a momentum indicator that measures positive and negative volume flow
• Price Volume Trend (PVT) is a momentum based indicator used to measure money flow
Plotting will be performed for regular RSI and RSI of Volume indicator (RSI(VOLX)) selected from the dialog box, where the possibility to apply smoothing is provided as option. Additionally, labels can be added optionally to display the value and name of selected volume indicator
Secondly, ability to present Volume Histogram within the same study along with its Moving Average or Volume Oscillator based on selection
Finally, Volume Based Colored Bars , a study of Kıvanç Özbilgiç is added to emphasis volume changes on top of the bars
Nothing excessively new, the study combines RSI with;
- RSI concept applied to some of the common Volume indicators presented with a highlighted over/under valued threshold area, optional labeling and smoothing,
- added Volume data with additional information and
- colored bars based on volume
Thanks @Vishant_Meshram for the inspiration 🙏
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Attributable VolumeA volume indicator which calculates "Attributable Volume”, the portion of volume which contributed to the direction in which the candle moved.
Attributable Volume is calculated as: Total volume excluding the "counter wick" volume.
Where for a green (up) candle, the "counter wick" volume is the top wick volume.
In theory, Attributable Volume should better represent the effort of directional thrust of each candle.
By default, this indicator displays “Attributable RVOL”, but can be set to:
Attributable RVOL
RVOL
Attributable Volume
Volume
Note: RVOL = Relative Volume, the current volume divided by the Volume moving average. RVOL can be used to identify major moves, and potential starts/ends to trends.
Multi-Exchange Volume (30 Tickers) by kurtsmock + BV + rVolauthor: kurtsmock
Fully Customizable ticker set. Up to 30 Tickers. Bitcoin set as default.
-- IMPORTANT NOTE: --
30 Exchanges are a lot. It can take a while to load. You can fully customize this indicator to your liking. Here's how:
1. Load indicator
2. Open Settings
3. Uncheck the switch box for exchanges you want unincluded
4. At the bottom of the settings menu click "Defaults" and hit "Save as Default"
5. To turn them all back on, hit "Reset Settings" in that same "Defaults" menu and click "Save as Default" again.
Also, you don't have to use this with Bitcoin. This works with any asset, just change the ticker in the settings.
There's a lot going on with this indicator so the following is descriptions and instructions to help you better understand what's going on here. Thanks!
Goal:
- To provide a mechanism for assets on multiple exchanges to have their volume evaluated together
Edge:
- Having better and more complete volume information
Notes:
- The Default Exchanges for this indicator are highest volume bitcoin exchanges, but may contain "fake volume"
- Indicator is set for Bitcoin by default. However, you can change the tickers to reflect any asset you want
////// rVol //////
Goal:
- To understand how much volume is being executed relative to the same candle on previous days/periods
Edge:
- Higher rVol implies higher volatility and market interest.
- High rVol = higher than average volume . Markets move on volume so higher than average volume indicates increased market activity/volatility
- rVol is an indirect measure of active or anticipated volatility
Definitions:
- rVol: The volume of a period compared to the Average Volume of that same period in past sessions
- Important to note it does NOT add up the last 10 (default) candles, but rather the last 10 candles at session intervals.
- Example:
-- On a Tuesday, 1h chart it will add up the last ten Tuesday, 9:00 am candles, not including the current, active candle.
-- It then averages those lookback candles.
-- It then plots the percentage relationship between the most recent candle and the average of the lookback candles
-- Avg Vol of Lookback candles = 5000,
-- Volume of most recent candle = 4000: Output = rVol = 80:
-- Volume of most recent candle was 80% of the average volume in the 9 am time period of the last ten Tuesdays in the 9 am, 1h period
Notes:
- rVol does not add current candle volume into lookback sum. So, you set lookback to be: (not including the current day)
- rVol is on a switch. So, if you want to see rVol instead of volume, hit the switch in the settings
- If you want to see both, load 2 instances of the indicator.
////// Better-er Volume //////
Goal:
To Identify:
- When a candle closes at the highest volume * range relative to the lookback period and close > open
- When a candle closes at the highest volume * range relative to the lookback period and close < open
- When a candle closes at the highest volume / price relative to the lookback period
Edge:
- Identifies beginnings of price expansion, climax of price expansion, breakouts, pivots, and take profit points on the volume chart
Notes:
- Based generally on Barry Taylor's "Better Volume" indicator and ideas from Pascal Willain's book "Value in Time."
- Better-er Volume rules are applied to both Total Volume or rVol.
-- When rVol is displayed Better-er Volume is applied to rVol
-- When Total Volume is displayed Better-er Volume is applied to Total Volume
// Plot Key: //
Green Triangle Up = Often marks the beginning and/or end of price expansion to the upside
Red Triangle Up = Often marks the beginning and/or end of price expansion to the downside
Yellow Square = High Volume but Tight Range. Implies a Battle of Bulls and Bears. High Liquidity area. Provided Liquidity is not enough to move price. Thick Limit Order Book.
Purple Triangle Up or Down = Implies high market participation. Typically at the end of expansion when very significant s/r is hit
category: volume Volatility
tags: Volume rVol relativevolume Bitcoin cryptocurrency bettervolume
Many More Volume Indicators Coming Out Soon!
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.
Relative Volume Combined With a Cumulative FunctionHi everyone
The today's script was suggested by a follower.
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1 minute of Knowledge
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Many traders look at volume as a pre-signal that a move may happen.
In trading, some say that "the volume precedes the movement".
This simply means that often volume will increase before a significant move in the stock.
Imagine if a unique trader is buying a crypto/stock. The volume is unlikely to move.
But, if all the mass goes to mass spot buy an asset, then we could see a volume spike announcing a potential upwards move.
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What's the story with that indicator?
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It's an interesting way of presenting the volume data.
Will show the total volume for the selected period.
You can choose between relative and cumulative presentation.
The users can display the consecutive rising volume above the 0 line and the failing volume below that line.
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Mix knowledge with usefulness
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A price making a higher/high (HH) or lower/low (LL) has a real and strong meaning- a HH or LL on a volume has a significant meaning also.
Increasing volume for a stock/crypto, could signify that buyers were willing to purchase a bigger number of shares at a higher price (comparatively to the day before)
Obviously, non-stop crazy buying/shorting won't work at some point - and that "some point" may hurt a bit.
Such volume indicator combined with others like momentum or strength indicators is a nice trading strategy.
The volume announces that a move may happen and the other indicators will confirm the prophecy :)
Peace
Dave
