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OPEN-SOURCE SCRIPT

Daily Volume, RVol, RRVol, and RS/RW Labels

By glst0rm
Updated
Heads-up display of essential Real Day Trading criteria

  • Daily Volume
  • Relative Strength/Weakness
  • ATR 14 and ATR 14 percent of price
  • Relative Volume (RVol)
  • Relative Volume to SPY RVol (RRVol)
Release Notes
Adjusted SPY timeframe comparison from M5 to instead match the current selected period.
Release Notes
  • New 'bar relative strength' indicators (experimental, let me know how they work)
  • Color coding for ATR and RS levels; can be customized
  • Improved layout and color
Release Notes
Disabled 'recent bar relative strength' visibility by default
Release Notes
Formatted "recent bar relative strength" into table tucked below main table. This seems to work best a stand-alone pane rather than an overlay.
Release Notes
(publishing new chart)
Release Notes
Added experimental "Relative ATR" which compares current ATR to the previous 600 bars. The theory is that this will identify tickers that are showing above-average movement as an additional indication of institutional buying.
Release Notes
  • ATR now matches selected timeframe (was tied to 5-min chart)
  • Increased ATR to 10 bars
Release Notes
- Label adjusts to show "RS" or "RW" based on value
- Recent bar strength values displayed newest to oldest, right-to-left
Release Notes
Added plot of the ticker's relative volume and the SPY's relative volume. This is very powerful as an increase in a stock's relative volume (to its history) shows institutional interest.
Release Notes
Added display of "daily average" volume
Release Notes
Fixed issue with daily average volume
Average True Range (ATR)relativevolumeVolume Indicator

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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