Relative Volume RVOL

4.67

Relative Volume or RVOL is an indicator that averages the volume of X amount of days, making it easy to compare sessions volumes.


The histogram only has 3 colors:

Green - Above average volume

Yellow - Average volume

Red - Below average volume


The default setting is 20 days, which corresponds more or less to a month of trading.

In this version is possible to choose between tick and real volumes (if you are using a broker which offers future contracts)

With the data obtained from this indicator you can better gauge the commitment behind a move. For example, you will be better equipped to judge if a breakout of a range or the penetration of an important level really has big volume behind it supporting that move (and you can apply the same concept to judge the force of an impulsive move and it´s pullback).

Check the comments section for high resolution example images.

PS: If the histogram starts to look weird as you scroll back to the past, it means you need more historical data. So scroll back as far as you can then reload the timeframe and the histogram will recalculate.


Reviews 3
Jimmy_Bee
24
Jimmy_Bee 2025.09.26 01:21 
 

Halo Sir, thank you for this indicator. This indicator is the best for scalping in a certain instrument

BlackArmor
438
BlackArmor 2023.12.07 02:07 
 

Hi Alberto, very good indicator, I found this to be the best from all other Vol indicators that I have seen. Thank you.

orbaeztrader
50
orbaeztrader 2024.04.06 14:14 
 

Thank you very much for this indicator. It worked like a charm. The only question I have is why most days in March 2024 (19/20) on the S&P500 opening bar (09:30 NY time, 30-min bars) exceeded the average of tick volume. It sounds kind of weird. I understand that this indicator takes the 20 (default) previous 09:30 bars and calculates the average and compares it with the current tick volume. RVOL = Current Tick Vol/Average (20 days), It does the same for the 10:00 bar, 10:30 bar and so on. Am I right?

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Finally a Metatrader version of the very popular (and expensive) Market Cipher B indicator, or the Vumanchu Cipher B + Divergences very popular on Tradingview platform. This tool is very heavy on calculations, total are 31 plots using 97 buffers from several indicators. On my mid end computer, timeframes below M15 start getting a bit laggy, so it would require a powerful computer to run it properly at very low timeframes. It's still usable here, but somewhat sluggish response in Metatrader (lik
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Forex Master Pattern MT4
Alberto Gauer Borrego
4.67 (21)
The Forex Master Pattern  is an alternative form of technical analysis that provides a framework which will help you to find and follow the hidden price pattern that reveals the true intentions of financial markets. This algorithm here does a good job detecting the Phase 1 of the Forex Master Pattern cycle, which is the contraction point (or Value).  On Phase 2 we get higher timeframe activation (also called Expansion), which is where price oscillates above and below the average price defined
Tick and Range Bars Generator
Alberto Gauer Borrego
5 (1)
This utility here gives you a lot of bang for your buck by being a 2 in 1 custom candles generator. For the price of 1 utility, you get 2 !! It creates offline charts that will behave like a live chart. It has 2 modes of operation: Tick and Range These are not time based charts. They will enhance your analysis giving you an edge by filtering a lot of useless and confusing price noise, leaving behind the most important price levels/market structure. When set to "Tick" mode, it will generate
ICT Power of 3
Alberto Gauer Borrego
One of the most powerful and important ICT concepts is the Power of 3. It explains the IPDA (Interbank Price Delivery Algorithm) phases. PO3 simply means there are 3 things that the market maker's algorithm do with price: Accumulation, Manipulation and Distribution ICT tells us how its important to identify the weekly candle expansion and then try to enter above or below the daily open, in the direction of the weekly expansion. This handy indicator here helps you keep track of the weekly and
Relative Volume MT4
Alberto Gauer Borrego
4 (1)
Relative Volume or RVOL is an indicator that averages the volume of X amount of days, making it easy to compare sessions volumes. The histogram only has 3 colors: Green - Above average volume Yellow - Average volume Red - Below average volume The default setting is 20 days, which corresponds more or less to a month of trading. With the data obtained from this indicator you can better gauge the commitment behind a move. For example, you will be better equipped to judge if a breakout of a r
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Crosshair Local Time
Alberto Gauer Borrego
If you ever wanted to know your local time (or NY time) at any bar on the chart without needing to waste time with mental calculations, look no further. This indicator creates a crosshair which you can drag anywhere on the chart and will show you the local time in a label on top of the time axis. Press the "c" key to show/hide the crosshair. Left click it to pick it up and drag anywhere, left click again let it go. You can't hide the crosshair without letting it go first. Time setting inputs
ICT Power of 3 MT5
Alberto Gauer Borrego
5 (1)
One of the most powerful and important ICT concepts is the Power of 3. It explains the IPDA (Interbank Price Delivery Algorithm) phases. PO3 simply means there are 3 things that the market maker's algorithm do with price: Accumulation, Manipulation and Distribution ICT tells us how its important to identify the weekly candle expansion and then try to enter above or below the daily open, in the direction of the weekly expansion. This handy indicator here helps you keep track of the weekly and
This utility solves the problem of Metatrader not having the capacity to create custom session times, all markets are displayed forcefully in a 24h format. Lots of traders prefer to ignore the overnight action and focus only on NY session and use the overnight gaps as part of their trading strategy. ICT teaches this as "opening range gap", it's the gap between NY session end (16:15) and NY session start (09:30). The default setting in this utility reflects the RTH (Regular Trading Hours) opti
Seconds Timeframe MT5
Alberto Gauer Borrego
If you want a reliable seconds chart that works properly, look no further. This utility here uses tick data to create a precise seconds chart. You just need to load it on a M1 chart and choose how many seconds you want the chart to be. The utility creates an offline chart that gets updated on every tick so it behaves as if it were a live chart. It receives tick data so you can load custom indicators on it.  It's not possible to trade from the seconds chart. The screenshots below show a 30 se
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Jimmy_Bee
24
Jimmy_Bee 2025.09.26 01:21 
 

Halo Sir, thank you for this indicator. This indicator is the best for scalping in a certain instrument

orbaeztrader
50
orbaeztrader 2024.04.06 14:14 
 

Thank you very much for this indicator. It worked like a charm. The only question I have is why most days in March 2024 (19/20) on the S&P500 opening bar (09:30 NY time, 30-min bars) exceeded the average of tick volume. It sounds kind of weird. I understand that this indicator takes the 20 (default) previous 09:30 bars and calculates the average and compares it with the current tick volume. RVOL = Current Tick Vol/Average (20 days), It does the same for the 10:00 bar, 10:30 bar and so on. Am I right?

BlackArmor
438
BlackArmor 2023.12.07 02:07 
 

Hi Alberto, very good indicator, I found this to be the best from all other Vol indicators that I have seen. Thank you.

Alberto Gauer Borrego
9166
Reply from developer Alberto Gauer Borrego 2023.12.12 16:58
Thanks for the review buddy, I am glad you found it useful.
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