OPEN-SOURCE SCRIPT
Relative Volume (RVOL) Percentile
Relative Volume (RVOL) Percentile
What it does
Relative Volume (RVOL) Percentile shows when participation on the current chart bar is unusual versus its own recent history. The pane displays a relative-volume histogram colored as Dry-up, Normal, High, or Extreme, with an optional norm line at 1.0x. It describes observed volume conditions only and does not generate directional trade signals.
How it works
The script compares each bar with a rolling sample of completed bars from the same chart timeframe. The current bar is excluded from both the baseline and percentile sample.
How to use it
Inputs
Signals and alerts
Repainting
The baseline and percentile sample use only prior chart bars. Alert transitions require the current chart bar to be confirmed, so an alert state is not finalized from an unfinished bar. The histogram can move with live volume while the current bar is open because it describes that still-forming bar; closed historical bars are not rewritten afterward.
Limitations
This script is a charting tool for educational purposes. It does not provide financial advice and does not predict future price movement. Trading carries risk; decisions and their outcome remain yours.
What it does
Relative Volume (RVOL) Percentile shows when participation on the current chart bar is unusual versus its own recent history. The pane displays a relative-volume histogram colored as Dry-up, Normal, High, or Extreme, with an optional norm line at 1.0x. It describes observed volume conditions only and does not generate directional trade signals.
How it works
The script compares each bar with a rolling sample of completed bars from the same chart timeframe. The current bar is excluded from both the baseline and percentile sample.
- The baseline is either the median or simple moving average of the previous Lookback bars.
- RVOL is current volume divided by that baseline. A value of 1.0 means current volume equals the selected norm.
- Percentile rank is the percentage of the previous Lookback volume values that are less than or equal to current volume.
- Dry-up is below the Dry-up threshold, Normal is below High, High is below Extreme, and Extreme is at or above the Extreme threshold.
How to use it
- Add the script to a chart and choose a Lookback that represents the recent activity you want to compare.
- Read bars near 1.0x as close to the selected volume norm, then use the stage color to judge how unusual that bar is within the recent sample.
- Use High or Extreme transitions to identify unusually active bars and Dry-up transitions to identify unusually quiet bars.
- Enable price-bar coloring or the last-bar RVOL label only when that extra context is useful.
Inputs
- Lookback (Bars) - Number of prior completed chart bars used for both the baseline and percentile sample. Range 2-1000, default 20.
- Baseline Method - Median reduces the influence of isolated spikes; SMA uses the arithmetic mean. Default Median.
- Dry-up Below (%) - Percentile below which volume is classified as Dry-up. Range 0-100, default 15.
- High From (%) - Percentile from which volume is classified as High. Range 0-100, default 80.
- Extreme From (%) - Percentile from which volume is classified as Extreme. Range 0-100, default 95. Thresholds must remain in ascending order.
- Show Histogram - Shows or hides the RVOL histogram. Default on.
- Show Reference Line (Norm) - Shows or hides the 1.0x norm line. Default on.
- Color Price Bars - Applies the same stage color to price bars on the main chart. Default off.
- Show Value Label - Shows the current RVOL value on the last bar only. Default off.
- Text Size - Numeric size for the optional last-bar label. Range 10-24, default 12.
- Opacity (%) - Controls visual opacity. Range 0-100, default 70.
- Dry-up / Normal / High / Extreme colors - Sets the four stage colors used by the histogram and optional price-bar coloring.
Signals and alerts
- Relative Volume - Extreme - fires on a confirmed bar when the stage newly becomes Extreme.
- Relative Volume - High - fires on a confirmed bar when the stage crosses from below High into High or Extreme.
- Relative Volume - Dry-up - fires on a confirmed bar when the stage newly becomes Dry-up.
Repainting
The baseline and percentile sample use only prior chart bars. Alert transitions require the current chart bar to be confirmed, so an alert state is not finalized from an unfinished bar. The histogram can move with live volume while the current bar is open because it describes that still-forming bar; closed historical bars are not rewritten afterward.
Limitations
- The script uses total chart-bar volume only. It does not estimate buy/sell delta, footprint data, or intrabar order flow.
- Percentile rank is relative to the chosen Lookback, so different sample lengths can classify the same bar differently.
- Markets or symbols with missing, sparse, or non-comparable volume data can produce incomplete or less useful readings.
- The script measures volume anomaly only. It does not predict direction, continuation, reversal, or future price movement.
This script is a charting tool for educational purposes. It does not provide financial advice and does not predict future price movement. Trading carries risk; decisions and their outcome remain yours.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Find my advanced premium indicators:
kronosindicators.com
kronosindicators.com
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Find my advanced premium indicators:
kronosindicators.com
kronosindicators.com
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.