Get started
E5Trading

[E5 Trading] Relative Volume

E5Trading  
relativevolume
6
0
relativevolume
Relative Volume Overview
  • The E5 Trading Relative Volume indicator enhances volume analysis in several ways:
  • First, volume has been normalized to a percentage value, enabling standard thresholds for strong, average, and weak volume.
  • Second, each candle's volume is evaluated against its history to identify statistically significant bull and bear volume bars that may indicate whale (or institutional) buying and selling.


    Relative Volume Thresholds
  • Volume has been normalized to a percentage value based on a user-defined period. Default (50).
  • This enables using standard thresholds across all assets to determine strong, average, and weak volume.
  • Price moves with strong relative volume are more meaningful to technical analysis than equivalent price moves with weak relative volume.
  • Use as confluence with price breakouts...trends can often be identified early when price breakouts are supported by strong relative volume.
  • Similarly, price breakouts supported by weak relative volume will likely reverse.


    Volume Power Bars
  • Identify whale buying and selling with Volume Power Bars and follow the smart money!
  • Bull | Bear Volume Power Bars show statistically significant Bull and Bear Volume Bars that may indicate whale (or institutional) buying and selling. Default (On).
  • Trends often follow the direction of Volume Power Bars.
E5 Trading
Trade with a market edge!
Access indicators: www.e5trading.com
Socials: www.bio.site/e5trading
Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact E5Trading for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Author's instructions

Subscribe: www.e5trading.com

Want to use this script on a chart?

Warning: please read before requesting access.