Relative Volume (RVOL) compares current volume to the average volume for the same time of day during prior sessions. It gives a measurement as to how active the product is being traded. Increased volume can signify the start or end of a move.
In the screenshots below, the RVOL indicator has been added twice with different styling configurations. The orange dots and orange line represent the average of the volume for that specific timeframe over the past 20 days. Notice that at the start of the move there is significantly higher volume than the average.
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Configure the colors and plot style to suit your needs and preferences
Seperate styling options for both Up & Down volume
Configure the amount of days to be used for the calculation of the average volume for each specific time of day
Add the indicator to any intra-day chart. Include the RVOL Factor for the Day or Bar!
Relative Volume (RVOL) compares current volume to the average volume for the same time of day. It gives a measurement as to how active the product is being traded. Increased volume can signify the start or end of a move.
RVOL can be used to:
Quickly assess the Relative Volume Factor for the Day or Bar.
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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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