Volume Relative (Indicator)

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Input Information

Name	Expression	Default	Description
AvgLength	Numeric	50	The length, in bars, of the moving average of volume to which each bar's volume is compared (above average or below average).
AlertPctAbove	Numeric	50	The percentage amount above the average at which to trigger an alert. (The indicator must be customized to enable the alert after the indicator has been applied.)
AlertPctBelow	Numeric	50	The percentage amount below the average at which to trigger an alert. (The indicator must be customized to enable the alert after the indicator has been applied.)
AboveAvgColor	Numeric	MyColors( "DodgerBlue" )	Enter the color to be used for the volume plot when volume is above the average volume.
BelowAvgColor	Numeric	Red	Enter the color to be used for the volume plot when volume is below the average volume.
EqualAvgColor	Numeric	DarkGray	Enter the color to be used for the volume plot when volume is equal to the average volume.

Market Synopsis

Plots the amount by which the volume of each bar exceeds or falls short of the average volume. The average volume is calculated over a user-specified number of bars. Plot coloring is controlled by inputs (see above).

Plot Information

Number	Name	Default Color	Description
Plot1	RelVol	Dodger blue for volume that is above average, red for volume that is below average, dark gray for volume that is equal to the average.	Plots the relative volume as a histogram.
Plot2	ZeroLine	Transparent	Plots a transparent zero line.

 

This study can be applied to a RadarScreen window, or to a chart. It also can be used in the Scanner.