This study script defines indicators and plots for analyzing relative volume (RVOL) using PineScript. It calculates RVOL by dividing the current volume by a smoothed moving average of volume. It then plots RVOL, the smoothed RVOL, and signals when RVOL crosses above either the smoothed RVOL or a user-defined threshold. Alerts are also triggered for these crossover signals.
This study script defines indicators and plots for analyzing relative volume (RVOL) using PineScript. It calculates RVOL by dividing the current volume by a smoothed moving average of volume. It then plots RVOL, the smoothed RVOL, and signals when RVOL crosses above either the smoothed RVOL or a user-defined threshold. Alerts are also triggered for these crossover signals.
This study script defines indicators and plots for analyzing relative volume (RVOL) using PineScript. It calculates RVOL by dividing the current volume by a smoothed moving average of volume. It then plots RVOL, the smoothed RVOL, and signals when RVOL crosses above either the smoothed RVOL or a user-defined threshold. Alerts are also triggered for these crossover signals.
//if you edit, please drop a line. always give credit where it is deserved :) study("Relative Volume RVOL [DepthHouse]", overlay=false)
/// Inputs ///
l = input(26, title="Period") p = input(1.75, title="Threshold") s = input(14, title="Smoothing Value") b = input(title="Volume Breakout based on:", options=["Smoothing Value", "Threshold"], defval="Smoothing Value")
alertcondition(crossover(rvol,srvol), title="Smoothed Vol Breakout", message="{{ticker}}:Volume Breakout based on Smoothed Vol") alertcondition(crossover(rvol,p), title="Threshold Vol Breakout", message="{{ticker}}:Volume Breakout based on Threshold")