PROTECTED SOURCE SCRIPT
Dollar Volume by echanxyz
Dollar Volume — Tiered Relative Volume in USD
What it does
Standard volume tells you how many shares changed hands. This indicator tells you how much money changed hands. Each bar is volume × price, so a $300 stock trading 10M shares (3B) and a $30 stock trading 100M shares (3B) show the same height — because the same capital actually moved.
That makes it useful for:
Comparing liquidity across tickers regardless of share price
Judging whether a breakout was backed by real institutional money, not just a cheap stock churning
Reading volume on a stock whose price has moved a lot — the share-count average gets distorted, the dollar average doesn't
How it works
Price basis — choose how a bar's dollar value is estimated: Close, HLC3 (default, closest to the bar's average traded price), OHLC4, or HL2. Differences are usually under 2%; they matter most on big-gap or intraday-reversal days.
Bar color — up/down based on previous close (default) or open.
Moving average — SMA or EMA of dollar volume, default 50.
Three heavy-volume tiers — bars at ≥2× / ≥3× / ≥5× the average (all adjustable) get their own up and down colors, so a 5× day looks different from a 2× day at a glance.
Relative-volume fade — bars below Tier 1 are drawn progressively more transparent the further they sit below average. Quiet days recede; heavy days pop.
Alerts — Tier 1+ up bar, Tier 1+ down bar, Tier 3 extreme.
Notes
Values are in the chart's quote currency. On US tickers that's USD.
The y-axis auto-formats as K / M / B.
Works on any timeframe; the MA length and tier multipliers are in bars, so adjust if you move off daily.
Feedback and feature requests welcome.
What it does
Standard volume tells you how many shares changed hands. This indicator tells you how much money changed hands. Each bar is volume × price, so a $300 stock trading 10M shares (3B) and a $30 stock trading 100M shares (3B) show the same height — because the same capital actually moved.
That makes it useful for:
Comparing liquidity across tickers regardless of share price
Judging whether a breakout was backed by real institutional money, not just a cheap stock churning
Reading volume on a stock whose price has moved a lot — the share-count average gets distorted, the dollar average doesn't
How it works
Price basis — choose how a bar's dollar value is estimated: Close, HLC3 (default, closest to the bar's average traded price), OHLC4, or HL2. Differences are usually under 2%; they matter most on big-gap or intraday-reversal days.
Bar color — up/down based on previous close (default) or open.
Moving average — SMA or EMA of dollar volume, default 50.
Three heavy-volume tiers — bars at ≥2× / ≥3× / ≥5× the average (all adjustable) get their own up and down colors, so a 5× day looks different from a 2× day at a glance.
Relative-volume fade — bars below Tier 1 are drawn progressively more transparent the further they sit below average. Quiet days recede; heavy days pop.
Alerts — Tier 1+ up bar, Tier 1+ down bar, Tier 3 extreme.
Notes
Values are in the chart's quote currency. On US tickers that's USD.
The y-axis auto-formats as K / M / B.
Works on any timeframe; the MA length and tier multipliers are in bars, so adjust if you move off daily.
Feedback and feature requests welcome.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Trade what you see, be open minded.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Trade what you see, be open minded.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.