What This Indicator Is:
If you use Relative Volume in your trading, then you will probably really dig this indicator.
RelativeVolumeStDev (Relative Volume Standard Deviation) is a free indicator available on ThinkorSwim and TradingView. It appears as a histogram underneath one's chart on these platforms. This can be an extremely important indicator in trading. It looks like this:
The problem is that traders often don't have a lot of "real estate" available on their screen for all the indicators they like to keep underneath their chart. Another problem is that sometimes it can be hard to see which candle the relative volume is "popping" on.
This indicator solves these problems.
The Relative Volume Candle Painting Indicator paints the candles PURPLE in real time whenever Relative Volume exceeds the threshold the user sets. For example, when relative volume exceeds a 2.0 standard deviation. It looks like this:
Settings for this indicator:
The user can control the relative volume settings of "length" and Deviation Threshold (example: 2.0). Here is what the indicator interface looks like:
Since this is a digital product that cannot be returned once you have received the item, all sales are final and non-refundable.
BJB International, LLC is not liable for any losses due to your trading. This indicator is not intended as trade advice nor financial advice of any kind. Trade at your own risk. Do your own due diligence and self-education on trading, what Relative Volume is, and how to use it in your trades. For educational purposes only. For full disclosures, click here.