This will show the relative interest in the underlying asset regardless of the price change over time. For the case of FXCM , when the price fell from $16 to $1, its spiked 16x at the same time given the fact that 16x more shares can now be purchased with the same amount of dollar.
Enjoy! and remember to give a thumbs up.
study("dollar normalized volume", shorttitle="dollar normalized volume") getVolume(closed, volumed) => closed * volumed val = getVolume(close, volume) // draw one that's 3x the price, so we can fake that bars to half itself //plot(val * 1.5, title='Volume (Invisible)', color=black, transp=100, linewidth=0, style=columns) plot(val, title='Volume', color=gray, transp=0, linewidth=0, style=columns)