Hey guys. I've been scouring the internet for an RVOL (Relative Volume) indicator for Thinkorswim but can't find a free one. Really need RVOL to be able to execute my trading plan.
I need something like what's posted in the attached image. If you do find one, I would need assistance installing it/setting it up as a watchlist as well.
Thanks a lot!
Edit: Thank you to everyone for helping me. Below is a few different RVOL indicators for ThinkorSwim.
Version 1: https://usethinkscript.com/threads/...ator-watchlist-for-thinkorswim.1014/post-8511
Version 2: I believe shared by @Sonny
Version 3: https://usethinkscript.com/threads/...gy-and-momentum-scanner-for-thinkorswim.3002/
Continue to read throughout this post and you'll find more variations of relative volume indicators. Good luck!
I need something like what's posted in the attached image. If you do find one, I would need assistance installing it/setting it up as a watchlist as well.
Thanks a lot!
Edit: Thank you to everyone for helping me. Below is a few different RVOL indicators for ThinkorSwim.
Version 1: https://usethinkscript.com/threads/...ator-watchlist-for-thinkorswim.1014/post-8511
Version 2: I believe shared by @Sonny
Code:
def isRollover = GetYYYYMMDD() != GetYYYYMMDD()[1];
def beforeStart = GetTime() < RegularTradingStart(GetYYYYMMDD());
def vol = if isRollover and beforeStart then volume else if beforeStart then vol[1] + volume else Double.NaN;
def PMV = if IsNaN(vol) then PMV[1] else vol;
def AV = AggregationPeriod.DAY;
def x = Average(Volume(period=AV)[1],60);
def y1 = Round((PMV/x),2);
def L = Lg(y1);
def p = if L>=1 then 0 else if L>=0 then 1 else 2;
def y2 = Round(y1,p);
plot z = y2;
z.assignValueColor(if z>=10 then color.CYAN else if z>=1 then createcolor(255,153,153) else createcolor(0,215,0));
Version 3: https://usethinkscript.com/threads/...gy-and-momentum-scanner-for-thinkorswim.3002/
Continue to read throughout this post and you'll find more variations of relative volume indicators. Good luck!