This is the best version of relative volume you can find a claim which is based on the logical soundness of its calculation.
I have amalgamated various volume analysis into one synergistic script. I wasn't going to opensource it. But, as one of the lucky few winners of TradingClue 2. I felt obligated to give something back to the community.
The goal of this is to link two parameters of different known low and high values so one affects the other.
In this case, I want to link Relative Volume to the length of an EMA, so it responds faster in times of high volume.
As an animator I am used to linking values in this way with Maya using a set driven key, took some work to figure it out in pine.
This script plots the ratio between a ticker and the selected index. Currently, I have US equities indexes listed + BTC. It's a great way to check for relative strength, determine if absolute highs relative to the ratio are being made, etc.
Additionally, optional comparison of the RSI is included. I was just testing something out but figured I'd leave in here...
This indicator takes the Performance Table from @BeeHolder and converts it to a Relative Performance table so you can compare the current chart vs. an Index (or whatever other ticker you want) to see the relative performance of one vs. the other. I also added a cell for ADR, which is also the same value as "Monthly Volatility" in the stock screener. This can be...
Volume can be a very useful tool if used correctly. Relative volume is designed to filter out the noise and highlight anomalies assisting traders in tracking institutional movements. This tool can be used to identify stop loss hunters and organized dumps. It uses a variety of moving averages to hide usual activity and features an LSMA line to show trend. Trend...
Relative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular...
I have a thing for pivots and SR, so this is Tom DeMark Daily Retracements Levels pivots from DeMark Indicators book by Jason Perl.
Red lines -daily R
Green lines - daily S
Expect reversals or breaks at these points.
and some random stock, just test your instrument
This indicator colors the volume bars based on any of the three follow criteria:
- Volume Amount
- RVOL (Relative Volume)
- Lookback (Highest Over Period)
You can use one, two or all three of these settings at the same time.
You can also set alerts with this indicator. The script will trigger an alert whenever any of the three specified flags are triggered.
Relative Vigor Index with Dominant Cycle Detection. As Ehler's mentioned, fixed length look back is inherently flawed when it is possible to extract a length from a dominant price cycle. may be less effective if signal to noise ratio is greater than 2, but that usually would not happen at >5m candles, and honestly shouldn't be looking at RV(igor)I when price is...
Relative Volume indicator that pulls data from 9 different Bitcoin exchanges. Please note that this indicator only works with BTC and will not use data from your current chart.
Includes the following exchanges:
The Relative Vigor Index was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 58) and this is a momentum indicator that is similar to the Accumulation Distribution Oscillator created by Jim Waters and Larry Williams. He uses digital signal processing to smooth the indicator to provide clear buy and sell signals. The idea behind this indicator...
These are volume columns on steroids, for serious volume users. You can use the indicator to show volume columns or relative volume. You can define alerts using numerous conditions in both column and relative modes simultaneously. Multiple coloring schemes allow you to reveal volume columns in a much more useful light than the two-color standard.
The Adaptive Relative Vigor Index was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pgs 140-141) and it does a pretty good job of capturing the peaks and valleys of the underlying data. There are several ways to read this particular indicator so for long term trades then buy when it goes above 0 and sell when it falls below 0 or for shorter...
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.
This indicator calculates relative volume, which is the ratio of present volume over an average of past volume.
It offers two calculation modes, both using a time reference as an anchor.
The simplest way to calculate relative volume is by using the ratio of a bar's volume...
Relative Momentum Index indicator script. This indicator was originally developed by Roger Altman (Stocks & Commodities V. 11:2 (57-60)).
RMI with momentum period of 1 will be equal to an RSI when they have the same period and source price.
Use this indicator to compare how security is performing in compare with preferred index (SPX by default).
> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes
Apply it to SPX, industry index, sector index or other security in similar sector