A simple indicator showing the relation of volume to highest volume for a define number of bars. Helps to differentiate periods of low and high volume.
- Define the number of bars to find the highest volume used as a basis.
- Apply a simple moving average to smoothen the volume. Set it to 1 to disable smoothing.
- Define a threshold differentiating low and high volume.
Passionate about Algo trading and working on my prop trading career with The Concept Trading theconcepttrading.com/ref/180/