Relative Volume RVOL Custom Script for ThinkorSwim

Relative Volume, often called RVOL, is an indicator that compares current trading volume to average volume over a given period. This will then be displayed as a ratio so we can quickly see how active a stock is trading today in comparison to its average.
Today we’ll quickly go over how RVOL is calculated, how to load a custom script in thinkorswim to view it, and a general review of how it can be implemented in your trading. When the indicator value is greater than one, the volume is higher than average; conversely, a value less than one means lower than average volume.
Timestamps
0:00 Intro
0:25 RVOL Calculation
1:26 Loading Custom Script
4:23 How it Works
5:03 Outro
➤ Open a tastyworks account: start.tastyworks.com/#/login?...
➤ Start Investing with M1 Finance: m1finance.8bxp97.net/151KXm
Disclaimer: Some of these links go to one of my websites and some are affiliate links where I'll earn a small commission if you make a purchase at no additional cost to you.

Пікірлер: 102

  • @shortthestrike
    @shortthestrike2 жыл бұрын

    Use the following script to add RVOL: def rVol = volume / Average(volume, 50)[1]; AddLabel(yes, round(rVol,2));

  • @Sopros1

    @Sopros1

    Жыл бұрын

  • @Bodiesification

    @Bodiesification

    Жыл бұрын

    Hello my friend, thank you very much. How can I get the script to appear on my watch list for 2 min? Because the RVOL that appears in the watch list is daily

  • @spencerlyons5784

    @spencerlyons5784

    Жыл бұрын

    🔥

  • @littlealien8433

    @littlealien8433

    8 ай бұрын

    @@Bodiesificationadjust the time in the script

  • @estatelandscape

    @estatelandscape

    3 ай бұрын

    This script won't load into TOS. ??

  • @tamaravakian1504
    @tamaravakian1504 Жыл бұрын

    Your videos are always SUPER helpful! Really appreciate it! Keep up the excellent work!! THANK YOU!

  • @ragsmm
    @ragsmm5 ай бұрын

    Dude!! Can’t tell you how much I appreciate your content! Thank you a ton!

  • @kphilipps55
    @kphilipps55 Жыл бұрын

    Wow!! I was looking for this one everywhere!!! Thank you sooooo much!!🤗🤗🤗🤗🤗👍👍👍👍

  • @jherc135
    @jherc1355 ай бұрын

    As always, very helpful. Thanks and keep'em coming!

  • @findinghappy6687
    @findinghappy66872 жыл бұрын

    Great Videos 👍...Keep em coming

  • @KostaJankovski
    @KostaJankovski Жыл бұрын

    Thank you for sharing great tips. Please continue your great job.

  • @justinstu2972
    @justinstu29729 ай бұрын

    dude thank you so much been trying to figure this out forever!

  • @IvanDodson
    @IvanDodson Жыл бұрын

    Much appreciated!!! def rVol = volume / Average(volume, 50)[1]; AddLabel(yes, round(rVol,2));

  • @eddiedixon1356
    @eddiedixon1356 Жыл бұрын

    You are a rock star! thank you so much for this.

  • @chilatelover
    @chilatelover7 ай бұрын

    most excellent. Thank you!!!

  • @scottgregory4104
    @scottgregory4104Ай бұрын

    You Rock! Just what I was looking for!!!!!!!!!!!!!!!!!!!!!!!

  • @michaelwatkins3842
    @michaelwatkins38422 жыл бұрын

    Thank you! Liked and Subscribed

  • @smiles_per_gallon
    @smiles_per_gallon2 жыл бұрын

    Outstanding!

  • @OliverLpez
    @OliverLpez Жыл бұрын

    Wow great video!

  • @faigrande
    @faigrande2 жыл бұрын

    MANY, THANK YOU VERY MUCH

  • @hp3504
    @hp3504 Жыл бұрын

    many thanks .... very deeply appreciated.

  • @shortthestrike

    @shortthestrike

    Жыл бұрын

    Hope it helps!

  • @hp3504

    @hp3504

    Жыл бұрын

    @@shortthestrike yes .. way more than i could imagine. May i please ask would you be having any video showing a simple setup for intraday trading. I generally use 1 min for entry - 15 min for trend. But still not sure as to which indicators work best in such a setup Many thanks again. Very deeply appreciate your work. Kind regards

  • @EastBayNaytiv
    @EastBayNaytiv2 жыл бұрын

    Sir, your videos are outstanding. Straightforward, easy to follow and nothing extraneous. Question/request: can you do video on ADR/ATR (Average Daily/True Range)? I am asking because the study on ToS that I am using on my charts does not appear to be accurate according to my own figures. I looked around for cut and paste for ThinkScript and I cannot find anything useful. Thank you again

  • @wezger
    @wezger Жыл бұрын

    Thank you!

  • @Letstressgohowto
    @Letstressgohowto Жыл бұрын

    Thank you very much,

  • @SouthFloridasRestaurantGuy
    @SouthFloridasRestaurantGuy Жыл бұрын

    fantastic Thank you!

  • @shortthestrike

    @shortthestrike

    Жыл бұрын

    Glad you liked it!

  • @sjsphotog
    @sjsphotog5 күн бұрын

    thanks

  • @kphilipps55
    @kphilipps55 Жыл бұрын

    Thank you so much!!! I was looking for this script for so long!! Don't know how to thank you!!)) Mb you also know how to write script of "Daily Average Range vs Current Range"?? i am looking for that one everywhere as well, and can not find it! im so happy that i found you channel))) Big Thank you!!! and Subscribed of course🤗

  • @JanAir305
    @JanAir3052 жыл бұрын

    Thanks for the script, does it include PM volume?

  • @Letstressgohowto
    @Letstressgohowto Жыл бұрын

    HI, Thank you very much. Any thing for volatility !

  • @mynamejeff7573
    @mynamejeff7573 Жыл бұрын

    When sorting the values in the watchlist column (high to low or low to high), it sorts this inaccurately. Some numbers fall out of where they should be. For example "2" would fall between 3 and 5. Any way to fix this? EDIT: After research, it looks like the issue is with the "AddLabel" and it needs to be "plot" but when I change it, I receive an error. Think you can create a script that will work and fix the issue above?

  • @vincee.4753
    @vincee.47534 ай бұрын

    Great Video! I was searching out something like this. Is there a way to add this as a scan? I can't get TOS to accept it when adding as a custom script in the scanner. I'm also not able to view it there, just in the stock column.

  • @estatelandscape

    @estatelandscape

    3 ай бұрын

    Great videos!!! But this script won't load for me either. ??

  • @donblack541
    @donblack541 Жыл бұрын

    I made this it works great! When I put the column on my phone it doesn't work, do you know how to make it work on phone app?

  • @XLucero1
    @XLucero1 Жыл бұрын

    Request: Gives relative volume “at this time “over the past XX - amount of days

  • @rixagroup
    @rixagroup Жыл бұрын

    Hey, if i want only stocks with rvol '2' and above to be displayed, which line shoul i add?

  • @nathannehring4140
    @nathannehring4140 Жыл бұрын

    Thank you so much! Is there anyway to get this to work on the IOS app watchlist? It doesn't appear to work on my app.

  • @bctrader5472
    @bctrader547210 ай бұрын

    Never saw the video you said you would make about adding this as a scan?

  • @KPSoundCo
    @KPSoundCo11 ай бұрын

    How does this work for like 1 minute 5 minute chart? Does it calculate on each bar or whole day? Want to use it for day trading

  • @oluwaseunrenner7285
    @oluwaseunrenner7285 Жыл бұрын

    Can you please show one for ATR Average True Range. Thanks in advance.

  • @generalpanda518
    @generalpanda5187 ай бұрын

    I added the same set of code to both the watchlist and the study on the chart, but the displayed content is inconsistent. The data shown in the watchlist and the study on the chart are different. Do you know why this situation happen? Appreciate your share.

  • @ShoresOfHelll
    @ShoresOfHelll11 ай бұрын

    Thanks for the amazing video. Does it tell Vol bar by bar like comparing 930am vol from previous days to today's vol or does it look at complete vol. for today vs previous days? Thanks

  • @jacksondowney5

    @jacksondowney5

    7 ай бұрын

    that's exactly what I was hoping this would be for. Were you able to find out if this exists?

  • @puma3100
    @puma3100 Жыл бұрын

    How to add this as a label on the chart?

  • @danieldestefano9518
    @danieldestefano9518 Жыл бұрын

    Hi, I added the script, but the numbers are coming up as low decimals. Like .13 .07 .15 .. and I looked at all large cap names. Am I doing something wrong?

  • @ShoresOfHelll
    @ShoresOfHelll11 ай бұрын

    Thankyou for uploading this. On Dash Trader Pro and TradingView one can add RVOL which is bar by bar meaning the 935am 5 min bar will compare the vol of previous many days 5 min candle at the same time. That is super helpful as one see increase vol and trade volatility for early morning. Can u write a script for that for ToS? Thanks again for your awesome videos 🙏

  • @markglezinartwork6799

    @markglezinartwork6799

    11 ай бұрын

    this would be amazing indeed

  • @jacksondowney5

    @jacksondowney5

    7 ай бұрын

    that's exactly what I was hoping this would be for. Were you able to find out if this exists for TOS?

  • @stevecrim4557
    @stevecrim45574 ай бұрын

    When you are using this as a column how does it now what time to use for the 50 period? It could be one minute or one hour,etc. How is that defined so the script knows what to use to look back?

  • @issam_bl2152
    @issam_bl21522 ай бұрын

    A question and how will I know what the average VULOMEN is to see if it has more arvol

  • @ballparq1
    @ballparq1Ай бұрын

    I just found this video and it was exactly what I was looking for. However once loaded to my scan it only shows me "loading" instead of the actual RVOL. Any ideas on why?

  • @hughw.
    @hughw.2 жыл бұрын

    Really do appreciate this great video! Very helpful. I am trying to add relative volume to my scanner. Could you make a script that finds relative volume over 5? If you have time I would greatly appreciate it. Thank you either way.. Subscribed.

  • @JanAir305

    @JanAir305

    2 жыл бұрын

    just change the 50 to 5

  • @markglezinartwork6799

    @markglezinartwork6799

    11 ай бұрын

    this doesn't work because of the lable line, should be replaced with something else. @@JanAir305

  • @bobbobson3999
    @bobbobson3999Ай бұрын

    Is there a way to make this a display label?

  • @sensere7508
    @sensere7508 Жыл бұрын

    Does this c indicator work real time premarket with level 2 data? I have often seenbthem be inaccurate until late in day when actual volume catches up to the calculation for example 830 am stock x is at 500k shares and trades 3 million shares daily by end of day and it says relative volume is 4.5 finviz mightvsay 2.2 and by end of day the TOS indixator actually is closer to what finviz says

  • @sr-sr592
    @sr-sr5926 ай бұрын

    Wouldnt this indicator not be accurate earlier in the day as the volume starts to increase over the day so it should start with a low number and then increase thru out the day ?

  • @spider0monkey007
    @spider0monkey007Ай бұрын

    do you have a updated script for think or swim Charles Schwab

  • @tyler91293
    @tyler91293 Жыл бұрын

    Is there a way to have the indicator fixed on daily RVOL on any timeframe? so maybe (today's volume) / (last X number of days)? even if I'm on the 30 min chart, I'd like the on chart indicator to show the daily RVOL

  • @tyler91293

    @tyler91293

    Жыл бұрын

    Great video by the way!

  • @victorvillafane3498
    @victorvillafane3498 Жыл бұрын

    is there anyway to capture Relative Volume data? Or is there a website that historically references rvol data throughout the dates/times? Meaning I would like to collect Rvol data at various points in day during the day, (IE: open, 7am, 8am, 9am etc....) without having to manually log it in excel at any point in time which is what I'm currently doing.

  • @shortthestrike

    @shortthestrike

    Жыл бұрын

    Since the data is in there I should be able to chart it and then you’d be able to access the historical via the chart. I’m not sure how to do it, but let me take a look

  • @jacksondowney5

    @jacksondowney5

    7 ай бұрын

    that's exactly what I was hoping this would be for. Were you able to find out if this exists?

  • @michaellyakhovetsky7323
    @michaellyakhovetsky7323 Жыл бұрын

    Awesome videos 🎉❤ can you help me with a script for the stock hacker? Need a relative volume scan to only show stocks with average volume above '2' for the past 30 days 🙏

  • @benjacomin
    @benjacomin Жыл бұрын

    is there a relative volume indicator for a particular point in time (comparing to same time in previous days)?

  • @jacksondowney5

    @jacksondowney5

    7 ай бұрын

    that's exactly what I was hoping this would be for. Were you able to find out if this exists?

  • @Woodstock258
    @Woodstock2582 ай бұрын

    I Love your "Tutorials" and setups. I have been searching for a program that I can load into ToS that auto charts major whole dollar and .50 cent levels. For example, 3.00 would be a solid line, and 3.50 would be a dotted dash line-three consecutive levels up and three consecutive levels down. So, from the example above, starting at 3.00, 3.50, 4.00, 4.50, and again starting at 3.00, 2.50, and 2.00. In the premarket hours, I scan the RVol of % gainers and % losers, along with Gaps. I pick ten stocks to follow, then spend time charting these levels. I could be using this time for other premarket work. Per my example, if we could simply place our cursor on a whole dollar level, a program could auto-chart the levels up and down. Does a program already exist? Would you like to take the challenge of creating one to add to your extended library of immensely helpful stock scripts? I am hoping to read your reply. Thank you for letting me be one of your KZread subscribers.

  • @AresHeroSC
    @AresHeroSC Жыл бұрын

    @shortthestrike This script doesn't seem to work quite right. The RVOL values all read 0 right at the open and then increase throughout the day. Is there a way to change the period so that it's using the last 'x' number of 1 minute or 5 minute candles instead of the daily? Otherwise it's hard to tell if something has elevated RVOL until a decent part of the trading day is already over.

  • @KPSoundCo

    @KPSoundCo

    11 ай бұрын

    Want to know this too

  • @jacksondowney5

    @jacksondowney5

    7 ай бұрын

    that's exactly what I was hoping this would be for. Were you able to find out if this exists?

  • @AresHeroSC

    @AresHeroSC

    7 ай бұрын

    @@jacksondowney5No, unfortunately I wasn't able to find a script that worked how I wanted.

  • @jacksondowney5

    @jacksondowney5

    7 ай бұрын

    thanks for the response@@AresHeroSC

  • @tosh369
    @tosh3695 ай бұрын

    Doesn't this work only if you can compare the current time-of-day day volume with the average volume for the TIME OF DAY? Otherwise, this seems to be an end-of-day indicator only. Is my thinking correct?

  • @up4006

    @up4006

    3 ай бұрын

    I am kinda wondering the same thing

  • @sensere7508
    @sensere7508 Жыл бұрын

    Is this real time relative volume the idea is when market open it ca. See acceleration f volume based on actu as l time of day. The actual relati e volume won't be in line U til its too late in the day. Finvz rvol shows rvol even if there are only 50999 stars by 930 and based on that acceleration the relative volume is computed based on time of day

  • @michaelaobrien3508
    @michaelaobrien35083 ай бұрын

    Can I do a one time payment? I'd just like to pay you for the RVol Custom Thinkscript. I'm not quite ready to commit to monthly payments, until I find more utility. You offer a lot, I'm fairly certain, but I'm new.

  • @brendanbrendan3911
    @brendanbrendan3911 Жыл бұрын

    can i change the 50 to 10 day average? by changing the 50 to 10?

  • @wookie_trades

    @wookie_trades

    9 ай бұрын

    did this workout?

  • @brendanbrendan3911

    @brendanbrendan3911

    9 ай бұрын

    @@wookie_trades it did

  • @GrimmReapa
    @GrimmReapa9 ай бұрын

    Or volume - average(volume, 50) RawRelVol same thing

  • @kenschmidt9330
    @kenschmidt9330 Жыл бұрын

    Appears the script is no longer working, right now anyway 😞

  • @annabellesimon1244

    @annabellesimon1244

    Жыл бұрын

    yes, I tried it and it did not work :(

  • @kenschmidt9330

    @kenschmidt9330

    Жыл бұрын

    @@annabellesimon1244 Looks like it's working again... yay!

  • @derekmcdanold7108
    @derekmcdanold71082 жыл бұрын

    Is there a way to turn this into a scanner?

  • @shortthestrike

    @shortthestrike

    2 жыл бұрын

    Yes! I didn't even think to go through the process of doing that. It's actually incredibly easy, I can make a separate video on it

  • @derekmcdanold7108

    @derekmcdanold7108

    2 жыл бұрын

    @@shortthestrike That would be great. Thank you for taking the time to make these videos.

  • @YouStillNeedToSleep

    @YouStillNeedToSleep

    2 жыл бұрын

    @@shortthestrike i wonder if the video is ready. If so, what is the title. I'm looking to scan for RVOL >3

  • @shortthestrike

    @shortthestrike

    2 жыл бұрын

    @@YouStillNeedToSleep Haven't made it yet. But I will soon!

  • @uptwobucks2

    @uptwobucks2

    2 жыл бұрын

    Scanner: def rVol = volume / Average(volume, 50)[1]; plot signal = Sum(rVol, 1) >= 3; If you want it greater than 3 then change 3 to 5

  • @joefeinstein6804
    @joefeinstein680410 ай бұрын

    Seriously this crucial script is only 2 lines of code and TOS doesn't bother to include it. Why are the native scripts and native watchlists so useless?

  • @BillyJ10
    @BillyJ102 ай бұрын

    💰💰💰💰💰💰💰💵💵💵💵💵💵💵

  • @faigrande
    @faigrande2 жыл бұрын

    Dude I can't find the RVOL indicator. Please tell me where I could get it. Thank you so much

  • @shortthestrike

    @shortthestrike

    2 жыл бұрын

    I added the script in the comments for the rvol column. We’re you looking for the rvol indicator that displays at the bottom of the chart and looks similar to volume bars?