Also, what exactly would be the difference between using the Short vs Long version on a watchlist? Once you get it up and running it should look like this: Whatever one you use it is important that you don't make the mistake of comparing volumes at different times, for example you should keep it for the first hour at open on different days, and not first hour and last hour on different days. The risk of trading in securities markets can be substantial. We get it. Generally this is caused by news or some other catalyst in a stock. The metric volume reflects the number of shares traded of a specific stock. This tool can be used to identify stop loss hunters and organized dumps. But what is volume, and why is it important? I myself like to use it as a substitute of the volume indicator itself. Relative Volume can be used as a technical indicator to help identify potential breakout stocks. I can't count how many times I've heard "we need RVol" or "how do I calculate short float" or "why isn't there a 1wk, 12wk, 24wk, YTD, 3yr column". Likewise, if a stock's RVOL measures 0.50, it has half the RVOL of the prior 10-day average. 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. 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. Today well quickly go over how RVOL is calculated, how to load a custom script in thinkorswim to view it, and a general review of how it can be implemented in your trading. Small gaps can be ignored: the author suggests using the previous close as the DPL value. here is the basis of a high relative volume/rvol scanner. 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/. 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. Hats off to you and your developers; seriously thank you! Technical Analysis of Stocks & Commodities, April 2014. RVOL / Relative Volume - I found a way to jam this in via ThinkScript, but this really should be a standard feature. It helps if today's volume is already reached 20% or 30% within 30mins of market open, etc. Because it takes into account both the volume of trades and the price movement of the asset, RVOL can give you a good idea of whether there is currently high or low interest in a particular stock. RVOL stands for Relative Volume, and it measures the number of shares that are traded in a given period of time. This is the built in code of TOS for RelativeVolumeStDev. Whatever you do, make sure you manage your risk no matter what! Attributable Volume is calculated as: Total volume excluding the "counter wick" volume. For example, if a stock has a high relative volume, it may be because there is more interest in the stock, or because the price of the stock is changing rapidly. Formula is last close_price x volume / 1 cr or (close_price x volume /10000000). Load indicator TOS has an RVOL, I use it on my watchlist, its under RelativeVolumeStDev. I've been using your platform since before TD Ameritrade bought TOS and have loved the software over the years. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. Thank you. Script is designed predominantly for Indian users. We'll also provide some examples to help illustrate how relative volume works. What is Custom Expression Subscription Limit Exceeded on Thinkorswim? If the indicator spike corresponds to a price bar gapping from the previous bar, the DPL value will depend on the gap size. Futures and futures options trading involves substantial risk and is not suitable for all investors. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options. Very large bars. TD Ameritrade does not make recommendations or determine the suitability of any security, strategy or course of action for you through your use of our trading tools. This ensures that there will be enough buyers and sellers to provide liquidity in the market. Overlapping bars. None of our products are endorsed by TD Ameritrade or any of its affiliates. Relative Volume or RVOL is an indicator used to help determine the amount of volume change over a given period of time. You must review and agree to our terms \u0026 conditions of use, disclaimers \u0026 privacy policy before using this video, channel, page, or our website, and use of this information constitutes acceptance of our terms and conditions which are available here: https://easycators.com/terms-of-service-privacy-policy/If you have any ideas or suggestions for future videos on our channel, such as video tutorials related to Day Trading, Investing, hot stock market trading strategies, Futures traders, Robinhood app, Options trading, TD Ameritrade Thinkorswim, Crypto \u0026 bitcoin trades, FX and Forex trading strategies, or fun daily vlogs, please let us know!SUBSCRIBE! https://easycators.com https://youtube.com/easycators?sub_confirmation=1 https://facebook.com/easycators https://twitter.com/easycators If a stock in play has a a fundamental change, particularly to the downside, knowing that many big players may need to puke up the stock can be very helpful. Many are used to looking at numbers in lakhs and crores vs millions and billions, this provides a volume figure in rupee crores. You can fully customize this indicator to your liking. A high RVOL indicates that a stock is being heavily traded, while a low RVOL indicates light trading activity. Relative Volume (or RVOL) is a technical indicator that measures volume relative tothe average volume, that is volume or number of shares traded, of the same security over a given period, usually ten days. The ratio of those ten days would be equal to 1.0. Includes the following exchanges: Relative volume can give you a solid picture of whether there is currently high or low interest in a particular stock because it considers both the volume of trade and the asset's price movement. As you can see in the order montage window below, the RVOL for this symbol was extremely high compared to prior days, at 4056%. Get it here!https://easycators.com/relvolThe Thinkorswim Relative Volume chart indicator is the most important indicator that I use, and it's the one indicator I've created that I'm the most proud of.Over the years since I originally released RelVol, my own trading strategy has shifted, and so has my use of the indicator. You must log in or register to reply here. I know you have short squeeze scanners, but I just want to know the SF% on stocks I might trade without having to look it up on finviz all the time or do some of the other crazy workarounds that other traders are doing online. POLONIEX:ETHUSDT, Relative Volume indicator that pulls data from 9 different Bitcoin exchanges. Relative Hi everyone Do they need some more powerful functionality that the other versions don't have? 30 Exchanges are a lot. The unofficial subreddit for thinkorSwim. Relative volume is calculated bydividing the security's current volume by its 10-day average. Open Settings Yet, TOS is still getting out of bed. Because of that, I've continually tweaked it, improved it, added new features, and made it more efficient.So I thought it was about time to do a new video walking through all the features and functions of the indicator so that traders can see all the powerful functionality that I've built into it, that allow endless possibilities for customization and exploration of potential trading edges.There is SO MUCH potential here from what I've seen, that I simply don't have the time in my own life to explore every type of volume signal that can be found and traded using this indicator. from scriptstotrade which has a one-time fee of $97. You can find out more about the theory Melvin used here. Clients must consider all relevant risk factors, including their own personal financial situation, before trading. 3. 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. BITTREX:BTCUSD Vacation (251 Trading Days in a Year Remaining) Hi Guys, Ive put a quick video together on a great trade from earlier in the week. Really need RVOL to be able to execute my trading plan. Once you've found the 'Volume' category, you can then select the 'Relative Volume' study and hit 'Apply.' This is another indicator that there are . Orders placed by other means will have additional transaction costs. -------------------------------------- Our forum can be intimidating, if not overwhelming. No one can ever exhaust every resource provided on our site. A relative volume indicator can give you insight into current market circumstances. 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. Instead, volume is relative to the individual stock. In theory, Attributable Volume should better author: kurtsmock So 400% RVol means, today's volume is 4x compared to avg volume for the length you selected. Spreads, Straddles, and other multiple-leg option orders placed online will incur $0.65 fees per contract on each leg. ToS does have RelativeVolumeStandardDeviation Is this the same thing? there is a job opening on Upwork looking for someone to code. This allows you to see how the RVOL on an intraday basis is changing as the price of the stock changes. In short, volume is a measure of how much trading activity is taking place in a stock or other security. While this is generally seen as a good thing - after all, it usually means that the stock price is going up - it can also be a sign that the stock is overvalued and due for a correction. But there are hundreds of other combinations of modes and volume source calculations that this indicator supports as well, that I haven't even scratched the surface of.I've recently added Open Interest and Implied Volatility as potential volume sources, in addition to the normal share volume, trade or tick count volume, and range comparison.Whatever your trading style or timeframe, this indicator can be seamlessly added to your chart layout, and best of all it doesn't have to take up any extra screen real estate!Whether you trade stocks, futures, forex, or even cryptocurrencies like Bitcoin, this indicator can give you valuable information about the volume flow that you wouldn't have been able to effectively see before.#########Get it here!https://easycators.com/relvol#########Related terms: relative volume and volume price analysis, volume, technical analysis, ticks, trade count, trade volume, share volume, contract volume, session volume, order flow, tape reading, volume signals, volume confirmation, volume strength, how to read volume, price action setups, stock market, stocks, futures, options, and forex are all terms that are related to Thinkorswim relative volume indicators.SUBSCRIBE! https://easycators.com https://youtube.com/easycators?sub_confirmation=1 https://facebook.com/easycators https://twitter.com/easycatorsDISCLAIMER: WE ARE NOT CERTIFIED FINANCIAL ADVISORS AND NOTHING ON THIS VIDEO OR PAGE OR CHANNEL IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, AND NEITHER ARE ANY OF THE PRODUCTS OR CONTENTS OF THIS CHANNEL OR VIDEO OR PAGE OR SITE INTENDED TO INSTRUCT YOU ON HOW TO MAKE TRADING OR INVESTING DECISIONS. No other finance app is more loved, Custom scripts and ideas shared by our users, Relative Volume (rVol), Better Volume, Average Volume Comparison, Relative Strength of Volume Indicators by DGT, Multi-Exchange Volume (30 Tickers) by kurtsmock + BV + rVol, Relative Volume Combined With a Cumulative Function. Then the stock in question is trading at four . Thank you BenTen. Thank you, I don't know anything about coding. The first is RelativeVolumeStDev and the input parameters and plots are given so you can try it out yourself. You just divide the current volume of an asset with the average volume in a certain period. Connecting relative volume spikes or troughs with price action can help you anticipate significant price moves. Our forum can be intimidating, if not overwhelming. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets. PHEMEX:ETHUSD That is, they want to see the number of shares traded in the stock they're interested in to be at least 2.5 times the average number of shares traded over the past days. When a company's stock price increases rapidly, its relative volume also tends to increase. We don't need the exact number or shares. You and your wonderful developers are probably really busy, but myself, and thousands of other traders would really really appreciate some of these fields/indicators being added; particularly Float, SF%, and RVOL (you really have entire communities of people searching and coming up with workarounds about this and it's really frustrating). Bro, why would I want to go to Finviz when I already have a piece of software open and running on my desktop that has the potential to display the variables we require. On the day of the news, it gapped and traded over 37 million shares. The RVOL Relative Volume indicator can provide valuable insights to help you turn the probabilities of making good decisions more in your favor, and help identify false breakouts. Relative volume can also be affected by events such as earnings announcements or analyst upgrades/downgrades. I need something like what's posted in the attached image. You are using an out of date browser. It gives a measurement as to how active the product is being traded. If you are new, or just looking for guidance, here are some helpful links to get you started. Sizzle Index is for options, Stock Sizzle is for stock. There are plenty of things about TOS that upset me. On behalf of the internet: Do it for the fucking children. While this tool does have its drawbacks, it has been and continues to be a great indicator to help traders sort and filter stocks to trade. If the indicator spike corresponds to a price bar of a large size, use its close price as the DPL value. Says "Invalid statement: AddLabel at 3:1". First of all, thanks for everything you have built and all that you do. You have to compare apples to apples. 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This epic tool is our newest indicator and aims to identify areas of price that are exhausted. https://usethinkscript.com/threads/tor-watchlist-for-thinkorswim.1014/#post-8511, https://usethinkscript.com/threads/looking-for-relative-volume-for-a-watchlist-column.254/, Further modify relative volume indicator to segment the volume bars with horizontal lines that show the size of the trades in T&S, 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/. The Relative Volume (RVOL) Intraday script shows the current relative volume for a stock up the minute on an intraday basis compared to the last 5 days. Press question mark to learn the rest of the keyboard shortcuts. Not a recommendation of a specific security or investment strategy.