No matter the reason, it only means that the stock is worth paying attention to. High RVOL is also associated with pump and dumps. It's it trading less than 5 figures no one will probably ever want to trade it anyways. The RVI measures the direction of volatility . Not a recommendation of a specific security or investment strategy. If the indicator spikes come in clusters, use the extreme close or open price of the bar corresponding to the last or next to last spike in cluster. Hello traders! I've been scouring the internet for an RVOL (Relative Volume) indicator for Thinkorswim but can't find a free one. RVOL one of those basic, but very important, indicators that help short term traders know if a stock is "In Play". Not sure why people are downvoting you, these would be awesome tools to add to an already awesome toolbox. Whatever you do, make sure you manage your risk no matter what! TD Ameritrade, Inc., memberFINRA/SIPC, a subsidiary of The Charles Schwab Corporation. You must log in or register to reply here. Thank you, I don't know anything about coding. See if you can figure a use and let everyone know. From the developers themselves they say it works by analyzing the average volume in a time frame and compares it to the volume in the same time frame from a previous day. One method to add a Relative Volume/RVOL Indicator on Thinkorswim is to use the free indicators developed by Melvin E. Dickover. Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. FTX:BTCUSD We'll also provide some examples to help illustrate how relative volume works. RVOL is calculated by dividing the security's current volume by its 10-day average volume. The RVI can be used as a confirming indicator since it uses a measurement other than price as a means to interpret market strength. We don't need the exact number or shares. Click add alert button at top toolbar. 30 Exchanges are a lot. As the stock rocketed on the news of a potential vaccine for monkey pox, shares of the company exceeded recent trading activity averages. For example, using this indicator you can see today's volume during the first 5-minute candle of the market open compared to the previous day's volume at the market open. from scriptstotrade which has a one-time fee of $97. If security with an RVOL ratio of 1.0 over ten days suddenly increases to 2.0, it has twice the average volume. 6.5K views 9 months ago Technical Indicators Relative Volume, often called RVOL, is an indicator that compares current trading volume to average volume over a given period. This just means that they will have the ability to get in and out of a trade with ease if using large size/shares. This is included on Thinkorswim itself. According to the author, this happens if the indicator value exceeds 2.0, thus signifying that a possible DPL is present. 2. Never assume that a high RVOL automatically means a buy signal. 2022 Charles Schwab & Co., Inc. All rights reserved. The unofficial subreddit for thinkorSwim. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. In either case, it may not be worth paying attention to the stock. Please comment any suggestions, questions or requests. Includes the following exchanges: Hi, I would like to ask if there is any study for relative volume on intraday time frames, actual volume done by that time of the day compared to average volume done by that time of day? It is often used to help traders determine how in-play a ticker is. The RVOL indicator is a valuable tool that can provide you with insight into the current market conditions. We provide custom ThinkScript add-ons and tutorials to help people use the ThinkOrSwim trading platform from TD Ameritrade. So 400% RVol means, today's volume is 4x compared to avg volume for the length you selected. __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"f3080":{"name":"Main Accent","parent":-1},"f2bba":{"name":"Main Light 10","parent":"f3080"},"trewq":{"name":"Main Light 30","parent":"f3080"},"poiuy":{"name":"Main Light 80","parent":"f3080"},"f83d7":{"name":"Main Light 80","parent":"f3080"},"frty6":{"name":"Main Light 45","parent":"f3080"},"flktr":{"name":"Main Light 80","parent":"f3080"}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"f3080":{"val":"var(--tcb-skin-color-0)"},"f2bba":{"val":"rgba(0,32,240,0.5) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"trewq":{"val":"rgba(0,32,240,0.7) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"poiuy":{"val":"rgba(0,32,240,0.35) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"f83d7":{"val":"rgba(0,32,240,0.4) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"frty6":{"val":"rgba(0,32,240,0.2) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"flktr":{"val":"rgba(0,32,240,0.8) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}}},"gradients":[]},"original":{"colors":{"f3080":{"val":"rgb(23, 23, 22)","hsl":{"h":60,"s":0.02,"l":0.09}},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.5}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.7}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.35}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.4}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.2}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.8}}},"gradients":[]}}]}__CONFIG_colors_palette__, {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}, __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"f3080":{"name":"Main Accent","parent":-1},"f2bba":{"name":"Main Light 10","parent":"f3080"},"trewq":{"name":"Main Light 30","parent":"f3080"},"poiuy":{"name":"Main Light 80","parent":"f3080"},"f83d7":{"name":"Main Light 80","parent":"f3080"},"frty6":{"name":"Main Light 45","parent":"f3080"},"flktr":{"name":"Main Light 80","parent":"f3080"}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"f3080":{"val":"rgba(23, 23, 22, 0.7)"},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}}},"gradients":[]},"original":{"colors":{"f3080":{"val":"rgb(23, 23, 22)","hsl":{"h":60,"s":0.02,"l":0.09}},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.5}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.7}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.35}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.4}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.2}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.8}}},"gradients":[]}}]}__CONFIG_colors_palette__, A Guide to Relative Volume/RVOL Indicator on Thinkorswim, a Relative Volume/RVOL indicator on Thinkorswim. Not all clients will qualify. Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. For example, if it increases as prices rise, it may signify that the trend is gaining momentum and could continue. Copyright 2023 Raconteur Content Creators Ltd, all rights reserved. In the world of penny stocks and momentum stocks, traders often look for high relative volume to determine whether a stock is in play or not. For example, some charting software will show RVOL as a line graph, while others will display it as a histogram. Also, what exactly would be the difference between using the Short vs Long version on a watchlist? Conversely, if RVOL decreases as prices fall, it could indicate that the trend is losing steam and may reverse. None of our products are endorsed by TD Ameritrade or any of its affiliates. A high RVOL indicates that a stock is being heavily traded, while a low RVOL indicates light trading activity. I've been using your platform since before TD Ameritrade bought TOS and have loved the software over the years. If you chose to share it freely. The Volume Indicator Shouldn't Be Used Alone. The information and/or products contained on this video, page, channel, or website are provided 'as is' without warranty and are provided solely for entertainment purposes. A reading above 1.0 means that there's more activity than usual, while a reading below 1 indicates less activity than usual. But what is volume, and why is it important? It's ridiculous to me and so many others. Sizzle Index is for options, Stock Sizzle is for stock. Press J to jump to the feed. The ratio of those ten days would be equal to 1.0. However, if the same stock has a RVOL of 0.5 and is trading at $10, it may be overvalued since it is trading at half its average volume and may be due for a price decrease. PHEMEX:BTCUSD But with minimal effort, you can add some helpful information using the built-in programming language thinkScript. The forum users on usethinkscript came together to create this code. In mathematical sense, the Relative Volume StDev is calculated as the ratio of the volume to its simple moving average (SMA), expressed in standard deviations. The indicator can identify stocks trading above or below their historical averages, which can help make trading or investment decisions. These pools are marked by Defended Price Lines (DPLs), also introduced by the author. With practice, you'll be able to use RVOL to your advantage and make better decisions when trading stocks. https://usethinkscript.com/threads/ator-watchlist-for-thinkorswim.1014/post-8511, https://usethinkscript.com/threads/gy-and-momentum-scanner-for-thinkorswim.3002/, https://www.smbtraining.com/blog/relative-volume-rvol-defined-and-how-we-use-it, https://usethinkscript.com/threads/unusual-volume-scanner-for-thinkorswim.247/#post-1477, Unusual Volume Moving Average Scan & Watchlist, scan for stocks with unusual buying volume, Unusual Volume Scan within last 10 bars rather than just current bar, Unusual Option Activity Scanner for ThinkorSwim, https://usethinkscript.com/threads/repainting-trend-reversal-for-thinkorswim.183/, https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/, https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/. So, while high relative volume can be a sign of a healthy company, it's important to do your research before investing. Fully Customizable ticker set. One thing, Stock Sizzle will not work on Android. *Disclaimer* Don't need the exact number, just 10.00M etc. there is a job opening on Upwork looking for someone to code. indicators that help short term traders know if a stock is "In Play". First, you'll want to select the 'Charts' tab at the top of your screen. Others might include the RVOL ratio in the order montage or some other window with data. 1. It does appear to have a 0-7 range. Thinkorswim is owned by TD Ameritrade, which has recently been aquired by Charles Schwab. For this reason, relative volume can be used to identify momentum or potential trends in the market. Keep in mind that volume isn't always an accurate indicator of a stock's performance.Another way to present RVOL data is to show it as a percentage. Please let us know (share) the Zanger V Ratio once (if) you develop it. Defines whether or not to display negative values of the indicator. I know that I am highlighting somethings that would be really nice to add, but I don't want all the hard work your team and your developers do to get lost in the below request. I found the similar one, Sizzle Index, but it seems to be applicable to the Options volume and not the Equity volume. One method to add a Relative Volume/RVOL Indicator on Thinkorswim is to use the free indicators developed by Melvin E. Dickover. Of course, it is also important to consider other factors, such as recent news events or EPS results, fund ownership, or other factors. Many are used to looking at numbers in lakhs and crores vs millions and billions, this provides a volume figure in rupee crores. As you can see in the order montage window below, the RVOL for this symbol was extremely high compared to prior days, at 4056%. Make sure you test your buying and selling strategies before you risk any money based on RVOL. You just divide the current volume of an asset with the average volume in a certain period. Volume can be a very useful tool if used correctly. The RVOL is easily visible as a background color, that changes between Low and High RVOL colors. If you are an experienced coder then ny using any of the great scripts available on usethinkscript forum you can customize it exactly as you want. Please read theRisk Disclosure Statementprior to trading futures products. Trading With The Relative Volume Indicator TrendSpider 41.2K subscribers Subscribe 201 Share 9.8K views 1 year ago Relative Volume (RVOL) is an indicator that visually shows traders how. It calculates relative volume (RVOL) based on the average volume by time of day (rather than a simple moving average). Relative Volume Indicator For ThinkorSwim ankbhard Jun 19, 2019 1 2 Next A ankbhard New member Jun 19, 2019 #1 Hello, Just wondering if anyone knows if TOS has a Relative Volume Indicator.? This tells traders about the movement potential / or movement profile. addlabel (yes, "RVOL " + Round(c), color.orange); . 7.31K subscribers Download here: https://easycators.com/thinkscript/re. Additionally, a company that is experiencing high growth may have a higher volume than a company that is more mature. We first introduced our ThinkOrSwim volume data Thinkscript back in March of 2019, and since then it has seen over 10,000 downloads from active traders. The thread is constantly being updated right up to when this article was written on July 20th 2022 which is a good sign. Our forum can be intimidating, if not overwhelming. BrianB, Jul 9, 2019 #1 MarkC likes this. TD Ameritrade provides financial services including the trading of Stocks, Futures, Options and Forex, and Easycators.com, Amberle LLC and this channel are not affiliated with them in any way. In the one 4-star review the user wishes that you could see past RVOL. https://easycators.com/relvol Show more Build 4. Forex accounts are not available to residents of Ohio or Arizona. Nov 8, 2019 #1 Hey guys. RVOL spikes occur when today's volume surpasses recent ranges. This allows you to see how the RVOL on an intraday basis is changing as the price of the stock changes. No one can ever exhaust every resource provided on our site. We get it. Relative volume becomes even more valuable when analyzed in conjunction with. The Relative Volume/RVOL study on Thinkorswim plots the relative volume for each bar, which is simply today's volume divided by the 10-period Average True Range (ATR). Non-coders can simply use the RelativeVolumeStDev which is included. We can only speculate as to the reasons why somebody is willing to spend $150 plus the time required to hire and co-ordinate somebody to code a relative volume indicator on Thinkorsiwm themselves, when as we have already shown there is a built-in way and a free way of doing it, and also a paid tool for $97. What are Good, and Bad, Questions to Ask When Buying a Business. When a company's stock price increases rapidly, its relative volume also tends to increase. Really need RVOL to be able to execute my trading plan. 1. In contrast, if a stock has a low relative volume, it may be because there isn't much interest in the stock at the moment, or because the price isn't changing much. Now that commissions are nil, and TOS is competitive on the cost/commissions front, I'm starting to move more money into your accounts but find some of these key things missing very frustrating. With that said, I have searched high and low, for years, and I can't seem to find any of the following fields / indicators (to add to a watchlist in TOS) and am finally just going to reach out directly. Higher Intraday RVOL can indicate the stock is in play with other traders or institutions. This ensures that there will be enough buyers and sellers to provide liquidity in the market. This might be obvious/unhelpful, but because TOS doesn't have a relative volume indicator for some reason, I gauge relative volume by seeing on the VolumeAvg indicator if the bullish volume bar is above the volume average. The indicator can be used to identify stocks that are trading above or below their historical averages, which can be helpful in making trading or investment decisions. You can find out more about the theory Melvin used here. Now includes tooltips to. Market volatility, volume and system availability may delay account access and trade executions. Relative Volume indicator that pulls data from 9 different Ethereum exchanges. At the very least, if you are searching for momentum in the market, it will help guide you to the stocks making the biggest moves with the best liquidity.If you're looking to day trade stocks, be sure to account for volume fluctuations. RVOL, or Relative Volume, is a technical indicator that measures the average volume of a security over a specific period of time, usually 10 days. If the indicator spike corresponds to a price bar gapping from the previous bar, the DPL value will depend on the gap size. Other traders may find that as long as a stock has elevated RVOL, it is a sign that there is plenty of liquidity for trades in the event that a setup occurs intraday. The Relative Volume can be affected by earnings announcements, analyst upgrades, or downgrades. But, as one of the lucky few winners of TradingClue 2. Condensable Avg Volume - I know you have this, but can we shrink this down a bit? Here's how: Relative volume, or RVOL, is a technical analysis indicator that measures the magnitude of recent volume changes in relation to historical volume.This will give you a percentage that can be used as an indicator to help you make informed day trading decisions. You might be also interested inWhat is Custom Expression Subscription Limit Exceeded on Thinkorswim? Are you aware that this is the unofficial subreddit for TOS?They will not read this but I agree with you that it would be nice to have Yeah I've reached out to them on a few mediums, over the years, but I only get the standard - "we're sorry, but we're just gonna go ahead and not do anything.." They've needed RVOL since Stocks In Play become widely known about years ago. I've found an edge using shares/trade/range setting, and I like that and talk about it every day in my recap videos. This tool can be used to identify stop loss hunters and organized dumps. I myself like to use it as a substitute of the volume indicator itself. The number of bars used in calculation of both the standard deviation and the simple moving average. A good sign is that they have updated the indicator since launching itand it has a "Last Gap Up Rvol" feature so that you can see what the volume was on the last gap up day compared to todays gap up at the current time. But how do you know when the range has enough juice to generate a trending move. The today's script was suggested by a follower. Thank you! This script calculates the relative volume based on the average volume at that time of the day across different brokers. The metric volume reflects the number of shares traded of a specific stock. This is displayed in the form of a ratio; which means that if the trader spots a volume of 4. nice post and I second the plea to have thinkorswim get some new tools. This is a fresh update to the original relative volume indicator package for thinkorswim. The second figure is the simple moving average (default to 20sma ) again in rupee crores. In trading, some say that "the volume precedes the movement". Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. I need something like what's posted in the attached image. It helps if today's volume is already reached 20% or 30% within 30mins of market open, etc. Please read the NFA bookletTrading Forex: What Investors Need to Knowprior to trading forex products. 4. Better Volume Indicators for Thinkorswim By Pat / August 25, 2021 The default chart settings for Thinkorswim leave much to be desired when it comes to volume. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register. Required fields are marked. I myself like to use it as a substitute of the volume indicator itself. -- IMPORTANT NOTE: -- No one can ever exhaust every resource provided on our site. My 15 year old nephew knows what a short float is and is learning to trade and was shocked it was not a field in TOS so he can sort self made scans. Relative Volume is a trading indicator primarily used by day traders that compares the current trading volume relative to the usual trading volume in the past. The RVOL indicator is calculated in a relatively simple way. Up to 30 Tickers. Open Settings Says "Invalid statement: AddLabel at 3:1". And most importantly, stay calm and don't let emotions get the best of you. Thank you BenTen. When you're trying to find the relative volume in thinkorswim, there are a few different steps that you'll need to follow. Here is a Zanger volume study. While RVOL is not the only factor to consider when making investment decisions, it can be helpful in identifying stocks that are trading above or below their historical volume averages. Relative volume can indicate that a certain stock is more active or volatile than other stocks in the market. For a better experience, please enable JavaScript in your browser before proceeding. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. If you do find one, I would need assistance installing it/setting it up as a watchlist as well. The more above, the better . Where for a green (up) candle, the "counter wick" volume is the top wick volume. This is another indicator that there are . Relative volume is designed to filter out the noise and highlight anomalies assisting traders in tracking institutional movements. In general, however, a good rule of thumb is to look for stocks within the range of 500,000 - 1 million shares traded per day. This strategy combines the use of MACD (12, 26, 9), RSI (14, 30, 70), and RVOL (14) to create Long Buy and Sell signals. Think of it like an RSI but FAR superior! Relative Volume (RVOL) compares current volume to the average volume for the same time of day. Go to thinkorswim r/thinkorswim . Gapping bars. During strong trends, the RSI A volume indicator which calculates "Attributable Volume, the portion of volume which contributed to the direction in which the candle moved. The critical indicator value exceeding which will indicate the spike. RVOL Indicator ThinkScript help Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members Genuine reviews from real traders, not fake reviews from stealth vendors Quality education from leading professional traders We are a friendly, helpful, and positive community hbspt.cta._relativeUrls=true;hbspt.cta.load(20705417, '47d2142a-ad26-42af-b2ad-691335935036', {"useNewLoader":"true","region":"na1"}); If you're new to day trading, you might be wondering what relative volume is and how it can be used to your advantage. POLONIEX:BTCUSDT. This will then be displayed as a ratio so we can quickly see how active a stock is trading today in comparison to its average. This is because more investors are interested in buying the stock, and so there is more trading activity. RVOL indicator compares current volume levels to past levels, providing insight into whether a stock is being heavily traded or not. There are other interesting related indicators, for instance here is the basis of a high relative volume/rvol scanner though the author does caution using it. For example, a company that is publicly traded on the New York Stock Exchange is likely to have a higher volume than a company that is only traded on the RTSI (Russian Index). It is critical to experiment with various settings to determine what works best for you. useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. If you're a day trader, you understand how critical it is to access trustworthy information that allows you to make quick, informed judgments. As a result, these events and new releases can impact the relative volume. RVOL can be used to: Confirm a break-out Detect the start of a move early Detect the end of a move Supporting documentation for any claims, comparison, statistics, or other technical data will be supplied upon request. It gives you a quick way to see how much volume is involved in the current movement relative to a recent period. One is that I can't have a % sign in my watch list if I want to sort by that particular column. Relative Volume (RVOL) measures the amount of trading activity in stock relative to its average activity level over a given period. RVOL compares current volume levels with past levels to gauge the intensity of trading activity. Or you can buy the paid version from scriptstotrade. Thanks in advance! Increased volume can signify the start or end of a move. Conversely, if a stock has a low RVOL, it can be because there is not much interest in the stock, or the price is stable. useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Next trading sesh I'm going to have a nice little chat with TD Ameritrade. Your software has been absolutely amazing over the years, and I know that myself and many other traders may have never been able to get so far without software like yours making seeing the markets much easier. Press question mark to learn the rest of the keyboard shortcuts. RVOL is calculated by dividing the security's current volume by its 10-day average volume. Some charting tools, for example, will represent it as a line graph, whilst others would display it as a histogram. The first is RelativeVolumeStDev and the input parameters and plots are given so you can try it out yourself. RVOL / Relative Volume - I found a way to jam this in via ThinkScript, but this really should be a standard feature. Description The Relative Volume StDev is a support-resistance technical indicator developed by Melvin E. Dickover. You must log in or register to reply here. Please note that this indicator only works with ETH and will not use data from your current chart. RVOL, or Relative Volume, is a technical indicator that measures the average volume of a security over a specific period of time, usually 10 days. Orders placed by other means will have additional transaction costs. Description The Relative Volume StDev is a support-resistance technical indicator developed by Melvin E. Dickover. Thank you. I tried to copy above code but i don't see anything on the chart. Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial. So, if a stock typically sees an average of 300,000 shares traded per day but suddenly sees 1,000,000 shares traded in a single day, that would be considered high relative volume.Relative volume can be used as a technical indicator to help you identify potential breakout stocks.For example, if you see a stock with consistently high relative volume but relatively low price movement, it could be an indication that the stock is about to make a big move. In order to use RVOL effectively, you need to be aware of the different ways that it can be displayed. Join 2,500+ subscribers inside the useThinkScript VIP Membership Club, VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. It uses a variety of moving averages to hide usual activity and features an LSMA line to show trend. It is based off Dickover's RelativeVolumeStDev above and there are 3 slightly different variations of it. Learn all about VIP membership, To access the premium indicators, which are plug and play ready, sign up for VIP membership. If you want to implement a Relative Volume/RVOL indicator on Thinkorswim we will show you the best options available to you, there are a couple of free options plus a ready-made paid version. Simply put, relative volume is a measure of the amount of trading activity in a stock relative to its average level of activity over a given period of time.
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