Watchlist Volume Surge Alert

Overview

This indicator is designed for traders who monitor large watchlists and need instant notification when a stock is experiencing unusual volume activity relative to its recent history.

Standard volume indicators often include the current day's volume in the average calculation. This causes a problem: if a stock is having a massive breakout, that high volume pulls the average up immediately, making it harder to hit the "relative" threshold.

This script solves that by comparing the current volume against the Simple Moving Average (SMA) of the previous n bars. This ensures a clean baseline and accurate alerts, even during massive volatility.

Key Features

Smart RVOL Calculation: Calculates Relative Volume (RVOL) based on the previous 30 bars (adjustable), ensuring the current breakout doesn't skew the average.

Visual Clarity:

Bars: Normal volume is transparent. Surge volume turns bright Teal (Bullish Close) or Red (Bearish Close).

Background: The indicator panel background highlights when a surge is active, making it impossible to miss when scanning visually.

Data Window: Displays the exact RVOL ratio (e.g., 2.11) in the Data Window for verification.

Watchlist Alert Optimized: Specifically designed to work with TradingView's "Any alert function call" or standard condition alerts across multiple tickers.

How to Set Up Alerts

This script is perfect for setting a single alert on a large watchlist to catch breakouts as they happen.

Add the indicator to your chart.

Go to the Alerts menu and create a new alert.

Condition: Select Watchlist Volume Surge Alert.

Trigger: Select "Once Per Bar".

Note: Using "Once Per Bar" ensures you are notified the moment the volume crosses the threshold during the trading day, rather than waiting for the market to close.

Message: The script includes a dynamic message: "Volume Surge! {{ticker}} volume is {{plot("RVOL Ratio")}}x the average."

Settings

Average Length (Days): The lookback period for the volume average (Default: 30).

Alert Threshold (x Average): The multiple required to trigger an alert (Default: 1.5x).

Note: This works better when you have a watchlist with similar volatility and/or market cap