Relative Volume (RVOL)
Documentation for: RVOL (Relative Volume)
In this video, Ross Cameron from Warrior Trading does a deep dive into how he uses relative volume (RVOL) to spot unusual volume in stocks that are about to make big moves. As Ross states, this is useful for stock selection. Although TickSurfers RVOL indicator displays differently, the concept is the same.
Troubleshooting
If the study is not plotting any values, then make sure that the chart has an equal or greater number of lookback days as the lookback in the study input settings. For example, if you have a 5 minute chart with 5 days worth of bars of the SPY and you have set the lookback period for RVOL to 21 days, then the indicator cannot calculate as there are not 21 days worth of bars to use for the calculation. To fix this, go to Timeframe -> Customize and set the Range to 21 days or more.
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