OPEN-SOURCE SCRIPT
volumeee
Avg Volume Lookback = 20
→ It calculates the average volume of the last 20 candles
RVOL Threshold = 1.5
→ If current volume is 1.5x or more than average
👉 It is considered high activity / institutional activity
→ It calculates the average volume of the last 20 candles
RVOL Threshold = 1.5
→ If current volume is 1.5x or more than average
👉 It is considered high activity / institutional activity
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.