oh92

Relative Volume RVOL Alerts

Relative 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.
Remove from Favorite Scripts Add to Favorite Scripts
DepthHouse. The Most Advanced Indicators for the TradingView Platform.
https://depthhouse.com/
⇅ DepthHouse BETA testing ending soon! Use the coupon code ‘BlackFriday’ to Save 50% on all USD purchases and subscriptions through the Black Friday weekend!
Great work! Thanks for sharing
Reply
Great indicator.
I see that the smoothed Vol or AVG volume line is 14 periods. Did you find that 14 periods is the best suited?

Thank you
Reply
Sir, thankyou, sir.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out