OPEN-SOURCE SCRIPT
RVol %
█ OVERVIEW
RVol % measures today's volume as a percentage of the 30-day average volume, displayed directly on your chart. It helps you instantly gauge whether current trading activity is unusually high, normal, or quiet - a critical piece of context for validating breakouts, spotting institutional activity, and filtering out low-conviction moves.
█ WHY RELATIVE VOLUME MATTERS
Raw volume numbers are hard to interpret on their own. 5 million shares on AAPL is a slow day; on a small cap, it's enormous. Relative Volume (RVol) solves this by expressing today's volume as a percentage of its recent average, giving you a normalized, comparable metric across any instrument.
🔴 RVol > 150% - Unusually high activity. Something is driving interest: earnings, news, institutional positioning. Price moves on high RVol tend to be more reliable.
🟠 RVol 100–150% - Normal to slightly elevated. Confirms steady participation.
⚪ RVol < 100% - Below-average interest. Breakouts on low RVol are more likely to fail. Ranges may persist.
█ FEATURES
⬜ Multi-Timeframe Accuracy
The indicator always calculates volume from the daily timeframe, regardless of your chart resolution. Whether you're on a 1-minute or weekly chart, the RVol reading reflects the true daily figure compared to the 30-day daily average.
⬜ Session Filtering
Toggle "Regular Session Only" to exclude pre-market and after-hours volume from the calculation. This gives you a cleaner read on participation during the main trading session.
⬜ On-Chart Labels (fully customizable, can be toggled on/off)
Configurable labels appear at the first bar of each session showing the RVol percentage. You can control visibility, history depth (last N days), size, position (above/below bars), background color, and vertical offset.
⬜ Volume Heatmap Background
An optional color-shaded background highlights the volume regime across the chart. Transparency is adjustable so it doesn't interfere with your price action analysis.
⬜ VWAP on High-Volume Days
When RVol exceeds a configurable threshold (default: 150%), the indicator automatically plots an intraday VWAP line. VWAP is a key reference for institutional traders - showing it only on high-volume days keeps your chart clean while highlighting the sessions where it matters most.
⬜ Alert System
Built-in alert conditions let you get notified without watching the chart:
🔔 RVol Extreme - Fires when volume exceeds the high threshold (default: 200%)
🔔 RVol Elevated - Fires when volume exceeds the mid threshold (default: 150%)
🔔 Low Previous Day - Flags sessions following a below-average volume day
Set these up through TradingView's standard Alerts menu to receive push, email, or webhook notifications.
⬜ Info Panel
A compact table in the top-right corner displays the current RVol %, today's raw volume, the 30-day average volume, and the active session mode (Regular / Full).
█ SETTINGS
Calculation
🔹 Average Length (default: 30) - Number of days for the volume moving average
🔹 Regular Session Only (default: On) - Exclude pre/post market volume
Alerts
🔹 Alert Threshold High (default: 200%) - Trigger level for extreme volume alert
🔹 Alert Threshold Mid (default: 150%) - Trigger level for elevated volume alert
Labels
🔹 Show Labels (default: On) - Display RVol labels on chart
🔹 Show Last N Days (default: 5) - Number of historical labels to display
🔹 Label Size (default: Normal) - tiny / small / normal / large / huge
🔹 Label Position (default: Top) - Above or below price bars
🔹 Show Label Background (default: On) - Color background behind label text
Colors and Thresholds
🔹 High Volume Threshold (default: 150%) - Color breakpoint for high activity
🔹 Mid Volume Threshold (default: 100%) - Color breakpoint for normal activity
Heatmap
🔹 Show Heatmap Background (default: On) - Volume-based chart shading
🔹 Heatmap Transparency (default: 90) - 0 = opaque, 100 = invisible
VWAP
🔹 Show VWAP (default: On) - Plot VWAP line on high-volume days
🔹 VWAP Trigger Threshold (default: 150%) - Minimum RVol to activate VWAP
█ HOW TO USE
Breakout confirmation: When price breaks a key level, check the RVol label. Above 150% adds conviction; below 80% is a warning sign.
Spotting unusual activity : A sudden spike to 200%+ with no obvious news can signal institutional accumulation or distribution before a move.
Intraday monitoring: The label updates in real time throughout the session. If RVol is building fast early in the day, it often signals a trending session ahead.
VWAP as a magnet: On high-volume days, price tends to revert toward VWAP. Use the auto-plotted VWAP as a reference for mean-reversion entries or as dynamic support/resistance.
█ NOTES
On intraday timeframes, the daily volume accumulates throughout the session, so the RVol percentage will naturally rise as the day progresses. The final value is only confirmed at session close.
The 30-day average uses a simple moving average (SMA) of daily volume. You can adjust the lookback period in settings.
Works on any instrument: stocks, futures, forex, crypto.
RVol % measures today's volume as a percentage of the 30-day average volume, displayed directly on your chart. It helps you instantly gauge whether current trading activity is unusually high, normal, or quiet - a critical piece of context for validating breakouts, spotting institutional activity, and filtering out low-conviction moves.
█ WHY RELATIVE VOLUME MATTERS
Raw volume numbers are hard to interpret on their own. 5 million shares on AAPL is a slow day; on a small cap, it's enormous. Relative Volume (RVol) solves this by expressing today's volume as a percentage of its recent average, giving you a normalized, comparable metric across any instrument.
🔴 RVol > 150% - Unusually high activity. Something is driving interest: earnings, news, institutional positioning. Price moves on high RVol tend to be more reliable.
🟠 RVol 100–150% - Normal to slightly elevated. Confirms steady participation.
⚪ RVol < 100% - Below-average interest. Breakouts on low RVol are more likely to fail. Ranges may persist.
█ FEATURES
⬜ Multi-Timeframe Accuracy
The indicator always calculates volume from the daily timeframe, regardless of your chart resolution. Whether you're on a 1-minute or weekly chart, the RVol reading reflects the true daily figure compared to the 30-day daily average.
⬜ Session Filtering
Toggle "Regular Session Only" to exclude pre-market and after-hours volume from the calculation. This gives you a cleaner read on participation during the main trading session.
⬜ On-Chart Labels (fully customizable, can be toggled on/off)
Configurable labels appear at the first bar of each session showing the RVol percentage. You can control visibility, history depth (last N days), size, position (above/below bars), background color, and vertical offset.
⬜ Volume Heatmap Background
An optional color-shaded background highlights the volume regime across the chart. Transparency is adjustable so it doesn't interfere with your price action analysis.
⬜ VWAP on High-Volume Days
When RVol exceeds a configurable threshold (default: 150%), the indicator automatically plots an intraday VWAP line. VWAP is a key reference for institutional traders - showing it only on high-volume days keeps your chart clean while highlighting the sessions where it matters most.
⬜ Alert System
Built-in alert conditions let you get notified without watching the chart:
🔔 RVol Extreme - Fires when volume exceeds the high threshold (default: 200%)
🔔 RVol Elevated - Fires when volume exceeds the mid threshold (default: 150%)
🔔 Low Previous Day - Flags sessions following a below-average volume day
Set these up through TradingView's standard Alerts menu to receive push, email, or webhook notifications.
⬜ Info Panel
A compact table in the top-right corner displays the current RVol %, today's raw volume, the 30-day average volume, and the active session mode (Regular / Full).
█ SETTINGS
Calculation
🔹 Average Length (default: 30) - Number of days for the volume moving average
🔹 Regular Session Only (default: On) - Exclude pre/post market volume
Alerts
🔹 Alert Threshold High (default: 200%) - Trigger level for extreme volume alert
🔹 Alert Threshold Mid (default: 150%) - Trigger level for elevated volume alert
Labels
🔹 Show Labels (default: On) - Display RVol labels on chart
🔹 Show Last N Days (default: 5) - Number of historical labels to display
🔹 Label Size (default: Normal) - tiny / small / normal / large / huge
🔹 Label Position (default: Top) - Above or below price bars
🔹 Show Label Background (default: On) - Color background behind label text
Colors and Thresholds
🔹 High Volume Threshold (default: 150%) - Color breakpoint for high activity
🔹 Mid Volume Threshold (default: 100%) - Color breakpoint for normal activity
Heatmap
🔹 Show Heatmap Background (default: On) - Volume-based chart shading
🔹 Heatmap Transparency (default: 90) - 0 = opaque, 100 = invisible
VWAP
🔹 Show VWAP (default: On) - Plot VWAP line on high-volume days
🔹 VWAP Trigger Threshold (default: 150%) - Minimum RVol to activate VWAP
█ HOW TO USE
Breakout confirmation: When price breaks a key level, check the RVol label. Above 150% adds conviction; below 80% is a warning sign.
Spotting unusual activity : A sudden spike to 200%+ with no obvious news can signal institutional accumulation or distribution before a move.
Intraday monitoring: The label updates in real time throughout the session. If RVol is building fast early in the day, it often signals a trending session ahead.
VWAP as a magnet: On high-volume days, price tends to revert toward VWAP. Use the auto-plotted VWAP as a reference for mean-reversion entries or as dynamic support/resistance.
█ NOTES
On intraday timeframes, the daily volume accumulates throughout the session, so the RVol percentage will naturally rise as the day progresses. The final value is only confirmed at session close.
The 30-day average uses a simple moving average (SMA) of daily volume. You can adjust the lookback period in settings.
Works on any instrument: stocks, futures, forex, crypto.
Skrip sumber terbuka
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.