Relative Volume at Time: Comparing Trading Activity with Past Sessions

Summary

This indicator compares current trading volume with volume observed at the same point in a chosen timeframe, helping users identify unusually active or quiet periods. It offers two calculation approaches: cumulative volume from the start of a timeframe through the current bar, or point-to-point comparisons with bars at the same offset in earlier periods. Timeframe units can be selected automatically, set to a fixed interval, or tied to a time of day on intraday charts.

Several display modes show current volume, relative-volume columns, averages, or a directional average. Users can add threshold channels based on fixed values or historical ranges, color bars using selected conditions, and filter signals by volatility. The script also includes alerts and error messages for missing volume or incompatible timeframe settings. It is an analysis and visualization tool; the document provides no trading results, and its comparisons depend on adequate historical data and suitable timeframe choices.

Key ideas

• Relative volume compares activity with historical volume at a corresponding point in a timeframe.
• The cumulative mode compares volume accumulated since the timeframe began, while point-to-point mode matches offsets across periods.
• Users can choose automatic, fixed, or intraday time-of-day timeframe units.
• Display options include relative-volume averages, directional averages, threshold channels, and volatility filters.
• The indicator requires usable volume data and compatible chart and timeframe settings.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.