Ultimate RVOL Indicator

The Ultimate Multi-Timeframe RVOL Indicator is designed to provide powerful insights into market activity by analyzing relative volume (RVOL) on both the current and higher timeframes. By tracking volume spikes and comparing them to historical averages, this indicator helps traders detect institutional activity, confirm trends, and avoid false breakouts.

Key Features:
• Real-Time RVOL Analysis: Instantly see how today’s volume compares to the average over a customizable period.
• Multi-Timeframe Support: Monitor RVOL on a higher timeframe (e.g., daily or weekly) to detect significant market moves.
• Smart Alerts: Get notified when RVOL crosses a user-defined threshold, indicating potential breakouts or breakdowns.
• Visual Labels and Background Colors: See clear visual markers for high or low RVOL events.
• Trend Confirmation: Use HTF RVOL to validate the strength of moves on smaller timeframes.

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🚀 How to Use:

1. Identify Strong Trends
• When RVOL > Threshold (e.g., 2x) and HTF RVOL is also elevated, institutions are likely participating.
• This confirms the strength of a move and increases confidence in a continuation.

2. Spot False Breakouts
• If RVOL spikes on your chart but HTF RVOL remains low, it may indicate a retail-driven move.
• Be cautious with these trades as they are more prone to failure.

3. Detect Potential Reversals
• When HTF RVOL spikes while intraday RVOL remains low, institutions may be quietly accumulating or distributing.
• Watch for a reversal or a significant move shortly after.

4. Volume Exhaustion
• A rapid RVOL spike followed by a drop in both RVOL and HTF RVOL may signal trend exhaustion.
• Consider locking in profits or tightening stops.

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⚙️ Settings Guide:
• Lookback Period: Adjust how many bars are used for average volume calculation (e.g., 20 for intraday or 50 for swing trading).
• High RVOL Threshold: Set a multiplier to define what is considered a “high” RVOL. Common values range from 1.5x to 3x.
• Higher Timeframe (HTF): Choose a timeframe to track macro-level volume (e.g., Daily for intraday traders or Weekly for swing traders).
• Show Labels and Alerts: Enable to see clear notifications on volume spikes.

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📊 Pro Tips:
• Use RVOL + HTF RVOL with key support and resistance levels for stronger trade setups.
• Combine with indicators like RSI or MACD to confirm momentum.
• Avoid trading on low RVOL days, as moves may lack conviction.
• When RVOL spikes dramatically, monitor price behavior for confirmation before entering a trade.

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This indicator is ideal for day traders, swing traders, and momentum traders looking to leverage volume for smarter entries and exits. Let the Ultimate Multi-Timeframe RVOL Indicator keep you on the right side of market moves. Happy trading! 🚀