OPEN-SOURCE SCRIPT
Mis à jour Relative Volume multi-timeframe ( D, W, M)
Relative Volume (RVOL) measures how active the market is compared to its normal volume. This indicator calculates RVOL on a selectable higher timeframe (Daily / Weekly / Monthly) and plots it as a column histogram, with colors matched to candle direction (bull/bear) either from the source timeframe or from the current chart timeframe.
What it calculates
RVOL is computed as:
RVOL = Current Volume (TF) ÷ SMA(Volume (TF), Lookback)
Where:
TF is the selected source timeframe: D, W, or M
Lookback is the number of TF bars used to compute the SMA baseline (default 30)
Interpretation:
RVOL = 1.0 → volume is equal to the average volume over the lookback period
RVOL > 1.0 → above-average activity (more participation than normal)
RVOL < 1.0 → below-average activity (less participation than normal)
Multi-timeframe behavior
The indicator uses higher-timeframe volume data regardless of the chart timeframe:
If you are on an intraday chart and TF = Daily, RVOL represents today’s accumulated daily volume so far compared to the average daily volume over the lookback period.
On Daily charts with TF = Daily, each bar represents a full day, so RVOL is the cleanest “day vs average day” comparison.
Weekly/Monthly modes work similarly, comparing the current week/month’s volume (or volume so far) to the average of prior weeks/months.
No forward-looking data is used (lookahead off).
Column coloring (candle-matched)
You can choose how RVOL columns are colored:
1) Source timeframe (D/W/M)
Colors are based on the candle direction of the selected TF:
Bullish TF candle (Close > Open) → bull color
Bearish TF candle (Close < Open) → bear color
Doji/neutral → neutral color
2) Chart timeframe
Colors are based on the current chart candles (your active timeframe), using the same bull/bear/doji logic.
This makes it easy to visually connect “unusual volume” with “which side controlled the candle” on the timeframe you care about.
Threshold guide lines
Horizontal levels are included to classify volume intensity at a glance:
1.0 = average volume baseline
1.2 = early elevated activity
1.5 = clearly above average
2.0 = strong participation
3.0 = high momentum / “power” activity
5.0 = extreme / climax-level activity
These are guides, not signals. RVOL measures participation, not direction or trend by itself.
How to use it
Use RVOL to identify periods where volume is meaningfully above average:
Confirm breakouts, trend continuation, or major reaction candles with elevated RVOL
Spot low-interest environments where moves are more likely to fade (low RVOL)
Combine with price structure (levels, ranges, trend) to distinguish accumulation/distribution vs “noise”
Notes / limitations
On intraday charts with TF = Daily/Weekly/Monthly, the current TF bar may be in progress, so RVOL reflects volume accumulated so far versus the average baseline. This is expected behavior.
The indicator does not generate buy/sell signals; it provides volume context for your existing strategy.
What it calculates
RVOL is computed as:
RVOL = Current Volume (TF) ÷ SMA(Volume (TF), Lookback)
Where:
TF is the selected source timeframe: D, W, or M
Lookback is the number of TF bars used to compute the SMA baseline (default 30)
Interpretation:
RVOL = 1.0 → volume is equal to the average volume over the lookback period
RVOL > 1.0 → above-average activity (more participation than normal)
RVOL < 1.0 → below-average activity (less participation than normal)
Multi-timeframe behavior
The indicator uses higher-timeframe volume data regardless of the chart timeframe:
If you are on an intraday chart and TF = Daily, RVOL represents today’s accumulated daily volume so far compared to the average daily volume over the lookback period.
On Daily charts with TF = Daily, each bar represents a full day, so RVOL is the cleanest “day vs average day” comparison.
Weekly/Monthly modes work similarly, comparing the current week/month’s volume (or volume so far) to the average of prior weeks/months.
No forward-looking data is used (lookahead off).
Column coloring (candle-matched)
You can choose how RVOL columns are colored:
1) Source timeframe (D/W/M)
Colors are based on the candle direction of the selected TF:
Bullish TF candle (Close > Open) → bull color
Bearish TF candle (Close < Open) → bear color
Doji/neutral → neutral color
2) Chart timeframe
Colors are based on the current chart candles (your active timeframe), using the same bull/bear/doji logic.
This makes it easy to visually connect “unusual volume” with “which side controlled the candle” on the timeframe you care about.
Threshold guide lines
Horizontal levels are included to classify volume intensity at a glance:
1.0 = average volume baseline
1.2 = early elevated activity
1.5 = clearly above average
2.0 = strong participation
3.0 = high momentum / “power” activity
5.0 = extreme / climax-level activity
These are guides, not signals. RVOL measures participation, not direction or trend by itself.
How to use it
Use RVOL to identify periods where volume is meaningfully above average:
Confirm breakouts, trend continuation, or major reaction candles with elevated RVOL
Spot low-interest environments where moves are more likely to fade (low RVOL)
Combine with price structure (levels, ranges, trend) to distinguish accumulation/distribution vs “noise”
Notes / limitations
On intraday charts with TF = Daily/Weekly/Monthly, the current TF bar may be in progress, so RVOL reflects volume accumulated so far versus the average baseline. This is expected behavior.
The indicator does not generate buy/sell signals; it provides volume context for your existing strategy.
Notes de version
Update: Added ATR Line (Relative Volume code unchanged)What changed
Added an Average True Range (ATR) line to the existing Relative Volume (RVOL) indicator.
ATR settings are configurable:
ATR Length (default: 14)
ATR Smoothing (RMA / SMA / EMA / WMA, default: RMA)
ATR Color (default: dark red)
ATR Line Width
What did NOT change
The original RVOL logic is unchanged:
Same multi-timeframe volume sourcing (D/W/M)
Same lookback calculation for average volume
Same candle-matched coloring option (source timeframe vs chart timeframe)
Same RVOL column plot and threshold lines (1.0 / 1.2 / 1.5 / 2 / 3 / 5)
Important note for users (units)
RVOL is a ratio (unitless), while ATR is in price units.
Both are plotted in the same pane for convenience, but they are on different “units,” so visually the ATR line may not align with RVOL levels unless you adjust the plot scale in TradingView.
Why this update matters
This lets you see participation (RVOL) and volatility (ATR) together:
RVOL helps identify unusual activity vs normal volume.
ATR shows whether volatility is expanding or contracting during those RVOL events.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.