NSE + BSE Volume with Relative Volume Multiplier By AfnanIntroducing the Combined NSE + BSE Volume Indicator with Relative Volume indicator (CRVI).
The Combined NSE + BSE Volume Indicator with Relative Volume Multiplier (CRVI) is an essential tool for Indian traders who are engaged in volume breakout analysis, particularly breakout traders.
Key Features of CRVI:
Combining NSE and BSE Volume: The CRVI consolidates volume data from both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) into a single chart, ensuring that traders do not miss out on vital volume data from either exchange.
Understanding Operator Activity: This indicator gives traders the advantage of identifying whether operators or smart investors are building positions in either exchange. For instance, while observing an NSE stock chart, traders can now identify if operators are building positions in BSE stocks as well.
Add-on to Relative Volume / Volume Breakout Multiplier (RVI) Indicator: The CRVI is an additional feature integrated into the Relative Volume / Volume Breakout Multiplier (RVI) indicator, providing an enhanced perspective on volume dynamics.
Usage of CRVI:
Quantifying Volume Breakouts: The indicator quantifies the degree of volume breakouts concerning the Simple Moving Average (SMA), facilitating a clearer understanding of the strength of volume breakouts.
Relative Volume Interpretation: By comparing the current volume with the volume SMA, the CRVI delivers a breakout number, such as 2.0 for double the volume SMA or 0.50 for half the volume SMA. This assists traders in gauging the momentum and potential trading opportunities more effectively.
Advantages for Traders:
Enhanced Volume Analysis: Breakout traders, in particular, will find the CRVI invaluable for identifying potential trading opportunities and assessing volume strength more accurately.
Essential Toolkit Inclusion: Traders focusing on volume breakout analysis can benefit significantly from incorporating this indicator into their trading toolkit.
Embracing Continuous Improvement:
Every tool and analysis utilized contributes to the ongoing process of becoming more adept traders. Embracing continuous learning and improvement is the foundation of successful trading. As we move forward, armed with the right tools and mindset, we eliminate the doubts of today and pave the way for a more confident tomorrow.
Gratitude :
Your support, likes, and comments are deeply appreciated. If you have any questions, do not hesitate to reach out. Let's work together to make trading an enriching experience!
Relativevolumeanalysis
Relative Volume / Volume Breakout Multiplier By Afnan TajuddinIntroducing the Relative Volume / Volume Breakout Multiplier (RVI) , RVI is specifically designed for traders who incorporate volume breakout analysis into their trading strategies, particularly breakout traders.
This indicator provides a unique perspective on volume dynamics by quantifying the extent of volume breakouts in relation to the Simple Moving Average (SMA). It offers an upgraded version of the default volume indicator on TradingView, with the added feature of Relative Volume.
For example, if the volume SMA is 100M and the current volume is 200M, the indicator will return a breakout number of 2.0, indicating that the current volume is twice that of the volume SMA. Conversely, if the volume SMA is 100M and the current volume is 50M, the indicator will return a value of 0.50, indicating that the current volume is half of the volume SMA.
This tool can be a very helpful for breakout traders, helping them identify potential trading opportunities and assess volume strength more effectively. this indicator is a must-have in the toolkit of any trader who focuses on volume breakout analysis.
Remember, every tool we use, every analysis we perform, is a step towards becoming better traders. So, let’s embrace this journey of continuous learning and improvement together. As the saying goes, “The only limit to our realization of tomorrow will be our doubts of today." Let’s step into the future with confidence, armed with the right tools and the right mindset.
Lastly, a big thank you for your support, your likes, and your comments. They mean a lot! If you have any questions, feel free to ask. Together, let’s make trading a rewarding experience!
