OPEN-SOURCE SCRIPT
已更新 Relative Volume Index [PhenLabs]

Relative Volume Index (RVI)
Version: PineScript™ v6
Description
The Relative Volume Index (RVI) is a sophisticated volume analysis indicator that compares real-time trading volume against historical averages for specific time periods. By analyzing volume patterns and statistical deviations, it helps traders identify unusual market activity and potential trading opportunities. The indicator uses dynamic color visualization and statistical overlays to provide clear, actionable volume analysis.
Components
• Volume Comparison: Real-time volume relative to historical averages
• Statistical Bands: Upper and lower deviation bands showing volume volatility
• Moving Average Line: Smoothed trend of relative volume
• Color Gradient Display: Visual representation of volume strength
• Statistics Dashboard: Real-time metrics and calculations
Usage Guidelines
Volume Strength Analysis:
• Values > 1.0 indicate above-average volume
• Values < 1.0 indicate below-average volume
• Watch for readings above the threshold (default 6.5x) for exceptional volume

Trading Signals:
• Strong volume confirms price moves
• Divergences between price and volume suggest potential reversals
• Use extreme readings as potential reversal signals

Optimal Settings:
• Start with default 15-bar lookback for general analysis
• Adjust threshold (6.5x) based on market volatility
• Use with multiple timeframes for confirmation
Best Practices:
• Combine with price action and other indicators
• Monitor deviation bands for volatility expansion
• Use the statistics panel for precise readings
• Pay attention to color gradients for quick assessment
Limitations
• Requires quality volume data for accurate calculations
• May produce false signals during pre/post market hours
• Historical comparisons may be skewed during unusual market conditions
• Best suited for liquid markets with consistent volume patterns
Note: For optimal results, use in conjunction with price action analysis and other technical indicators. The indicator performs best during regular market hours on liquid instruments.
Version: PineScript™ v6
Description
The Relative Volume Index (RVI) is a sophisticated volume analysis indicator that compares real-time trading volume against historical averages for specific time periods. By analyzing volume patterns and statistical deviations, it helps traders identify unusual market activity and potential trading opportunities. The indicator uses dynamic color visualization and statistical overlays to provide clear, actionable volume analysis.
Components
• Volume Comparison: Real-time volume relative to historical averages
• Statistical Bands: Upper and lower deviation bands showing volume volatility
• Moving Average Line: Smoothed trend of relative volume
• Color Gradient Display: Visual representation of volume strength
• Statistics Dashboard: Real-time metrics and calculations
Usage Guidelines
Volume Strength Analysis:
• Values > 1.0 indicate above-average volume
• Values < 1.0 indicate below-average volume
• Watch for readings above the threshold (default 6.5x) for exceptional volume
Trading Signals:
• Strong volume confirms price moves
• Divergences between price and volume suggest potential reversals
• Use extreme readings as potential reversal signals
Optimal Settings:
• Start with default 15-bar lookback for general analysis
• Adjust threshold (6.5x) based on market volatility
• Use with multiple timeframes for confirmation
Best Practices:
• Combine with price action and other indicators
• Monitor deviation bands for volatility expansion
• Use the statistics panel for precise readings
• Pay attention to color gradients for quick assessment
Limitations
• Requires quality volume data for accurate calculations
• May produce false signals during pre/post market hours
• Historical comparisons may be skewed during unusual market conditions
• Best suited for liquid markets with consistent volume patterns
Note: For optimal results, use in conjunction with price action analysis and other technical indicators. The indicator performs best during regular market hours on liquid instruments.
發行說明
What Makes This Unique & Useful This indicator combines three essential components that work together to provide deeper volume analysis:
1. Time-Specific Volume Analysis: Instead of simple moving averages, it tracks and compares volume for specific times of day, creating more accurate benchmarks for trading sessions
2. Statistical Validation: Uses standard deviation (2.5x default) to confirm volume signals, reducing false alerts common in basic volume indicators
3. Session-Aware Filtering: Automatically adjusts calculations for market opens (8:30) and different trading sessions, preventing false signals during irregular trading periods
How It Actually Works
The indicator's core calculations:
• Maintains a rolling 15-bar(adjustable) historical volume array for each specific time period
• Calculates relative volume: Current Volume ÷ Time-Specific Historical Average
• Applies 20-period smoothing to reduce noise
• Generates bands at ±2.5 standard deviations to identify truly significant moves
Underlying Method
Unlike simple trend-following volume indicators, this tool:
• Uses array-based historical tracking instead of basic moving averages
• Compares current volume to exact same-time historical data (not just general averages)
• Implements dual-layer filtering: 15-bar specific time comparison + 20-bar trend smoothing
• Validates signals through standard deviation expansion/contraction cycle
發行說明
Chart example updated.開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
Smart Tools for Smarter Trades: phenlabs.com
Join our growing community: discord.gg/phen
All content provided by PhenLabs is for informational & educational purposes only. Past performance does not guarantee future results.
Join our growing community: discord.gg/phen
All content provided by PhenLabs is for informational & educational purposes only. Past performance does not guarantee future results.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
Smart Tools for Smarter Trades: phenlabs.com
Join our growing community: discord.gg/phen
All content provided by PhenLabs is for informational & educational purposes only. Past performance does not guarantee future results.
Join our growing community: discord.gg/phen
All content provided by PhenLabs is for informational & educational purposes only. Past performance does not guarantee future results.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。