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RVOL (Relative Volume) + Breakout Confirmation

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AI generated indicator that does the following:

  1. RVOL: computes a baseline average volume with ta.sma(volume, rvolLen).
  2. Relative volume: rvol = volume / avgVol.
  3. Breakout: checks if price breaks the previous rangeLen bars’ high/low (using [1] to exclude the current bar).
  4. Confirmation: breakout is only “valid” when rvol >= rvolThresh (default 1.8).
版本注释
* Adding default colors

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