OPEN-SOURCE SCRIPT
Booker - Relative Volume Signals
Booker RVOL is a momentum breakout indicator designed to identify stocks experiencing unusual buying pressure during the regular trading session.
The indicator looks for a very specific setup often seen in high-momentum small-cap stocks:
* Trading between a user-defined price range (default: $1–$20)
* Up significantly on the day (default: +30% or greater)
* Trading with meaningful liquidity (default: 500,000+ shares)
* Relative Volume (RVOL) above a minimum threshold (default: 4x normal volume)
* Price trading above both VWAP and the 9 EMA
* A breakout above the premarket high
* A bullish “drop-and-pop” pattern, where a red candle is immediately followed by a breakout candle
When all conditions align, the indicator generates an LB RVOL signal and marks the chart.
Included Features
* Relative Volume (RVOL) calculation
* Premarket high tracking
* VWAP and 9 EMA trend confirmation
* Daily gain and volume filtering
* Customizable price range filters
* Entry markers and RVOL labels
* Alert support for automated notifications
Default Philosophy
The default settings are optimized for identifying explosive small-cap momentum stocks that are:
* Gapping higher
* Trading heavy volume
* Holding above key intraday support levels
* Breaking through important resistance levels
Rather than generating frequent signals, LB RVOL focuses on finding rare, high-conviction momentum setups where multiple bullish factors are aligned at the same time.
Signal Interpretation
A signal does not guarantee a successful trade. Instead, it highlights a stock exhibiting:
1. Exceptional relative volume
2. Strong intraday trend structure
3. A breakout above premarket resistance
4. Evidence of continued buying pressure
Many traders use these signals as a starting point for further analysis, including risk management, dilution risk assessment, chart pattern review, and broader market context.
LB RVOL was built to help traders quickly identify stocks attracting institutional and speculative attention before significant intraday moves develop.
The indicator looks for a very specific setup often seen in high-momentum small-cap stocks:
* Trading between a user-defined price range (default: $1–$20)
* Up significantly on the day (default: +30% or greater)
* Trading with meaningful liquidity (default: 500,000+ shares)
* Relative Volume (RVOL) above a minimum threshold (default: 4x normal volume)
* Price trading above both VWAP and the 9 EMA
* A breakout above the premarket high
* A bullish “drop-and-pop” pattern, where a red candle is immediately followed by a breakout candle
When all conditions align, the indicator generates an LB RVOL signal and marks the chart.
Included Features
* Relative Volume (RVOL) calculation
* Premarket high tracking
* VWAP and 9 EMA trend confirmation
* Daily gain and volume filtering
* Customizable price range filters
* Entry markers and RVOL labels
* Alert support for automated notifications
Default Philosophy
The default settings are optimized for identifying explosive small-cap momentum stocks that are:
* Gapping higher
* Trading heavy volume
* Holding above key intraday support levels
* Breaking through important resistance levels
Rather than generating frequent signals, LB RVOL focuses on finding rare, high-conviction momentum setups where multiple bullish factors are aligned at the same time.
Signal Interpretation
A signal does not guarantee a successful trade. Instead, it highlights a stock exhibiting:
1. Exceptional relative volume
2. Strong intraday trend structure
3. A breakout above premarket resistance
4. Evidence of continued buying pressure
Many traders use these signals as a starting point for further analysis, including risk management, dilution risk assessment, chart pattern review, and broader market context.
LB RVOL was built to help traders quickly identify stocks attracting institutional and speculative attention before significant intraday moves develop.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.