According to the author, this happens if the indicator value exceeds 2.0, thus signifying that a possible DPL is present. Yet, TOS is still getting out of bed. Likewise, if a stock's RVOL measures 0.50, it has half the RVOL of the prior 10-day average. Copyright 2023 Raconteur Content Creators Ltd, all rights reserved. BITFINEX:ETHUSD We get it. At the very least, if you are searching for momentum in the market, it will help guide you to the stocks making the biggest moves with the best liquidity.If you're looking to day trade stocks, be sure to account for volume fluctuations. Next trading sesh I'm going to have a nice little chat with TD Ameritrade. Stock with a high relative volume is more likely to be bought and sold than a stock with a low relative volume. As such, relative volume can be directly correlated to the potential trends in the market and help identify possible trends. specifically the relative volume. The ratio of that 10-day period would be equal to 1.0. The theory behind it is that Relative Volume (manually computed or through a RVOL indicator on Thinkorswim) can indicate the volatility of a particular stock. You might be also interested inWhat is Custom Expression Subscription Limit Exceeded on Thinkorswim? I use both in my scans and as a watchlist column. ToS does have RelativeVolumeStandardDeviation Is this the same thing? BITFINEX:BTCUSD The Relative Strength Index (RSI) , developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. INDEX:BTCUSD Or you can buy the paid version from scriptstotrade. Thank you Deus. This is a Volume indicator that also shows Relative Volume at Time (RVOL). This tool is well known by many and without a doubt the most powerful volume analysis you can have. If you are able to measure RVOL, you are able to know if the trading activity for a stock is increasing or not Relative Volume is a ratio that is derived by comparing the current volume to the average volume over a given period length RVOL is the key to understanding volume flows The critical indicator value exceeding which will indicate the spike. So what is relative volume? FTX:ETHUSD If security with an RVOL ratio of 1.0 over ten days suddenly increases to 2.0, it has twice the average volume. My hope is that since there are a quite a few forums on these topics, individually, that maybe if enough people see and up vote this, between reddit and trading making headlines, maybe someday they'll see this and decide to see if they can add these basic features. The average amount of shares it traded prior to this day was around 130k. A high RVOL indicates that a stock is being heavily traded, while a low RVOL indicates light trading activity. You can usually find this information on financial websites or through your broker. Relative Volume, often called RVOL, is an indicator that compares current trading volume to average volume over a given period. I've been using your platform since before TD Ameritrade bought TOS and have loved the software over the years. The more above, the better . We can only speculate as to the reasons why somebody is willing to spend $150 plus the time required to hire and co-ordinate somebody to code a relative volume indicator on Thinkorsiwm themselves, when as we have already shown there is a built-in way and a free way of doing it, and also a paid tool for $97. Anyone who's interested in stocks has probably heard the term "volume" before. Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. It's important to experiment with different settings in order to find what works best for you. Relative Volume is calculated by taking the ratio of current volume relative to a moving average of your choice. I don't want another window open on my computer. What are Good, and Bad, Questions to Ask When Buying a Business. On the day of the news, it gapped and traded over 37 million shares. If you are using the version from here then it is recommended you read this Twitter thread from the author as it gives tips on how best to use it. It helps if today's volume is already reached 20% or 30% within 30mins of market open, etc. hbspt.cta._relativeUrls=true;hbspt.cta.load(20705417, 'deabcb5c-21ff-4ddf-a755-f703047ac267', {"useNewLoader":"true","region":"na1"}); A good number for relative volume is often subjective to the trader and the strategy involved. I felt obligated to give something back to the community. I found the similar one, Sizzle Index, but it seems to be applicable to the Options volume and not the Equity volume. Prior to trading options, you should carefully read Characteristics and Risks of Standardized Options. Here's how: Open Settings Really need RVOL to be able to execute my trading plan. Bro, why would I want to go to Finviz when I already have a piece of software open and running on my desktop that has the potential to display the variables we require. 2. Both are built in. It's important because it can give you clues about the level of interest in a particular stock and whether that interest is increasing or waning. Additionally, a company that is experiencing high growth may have a higher volume than a company that is more mature. there is a job opening on Upwork looking for someone to code. Once you've found the 'Volume' category, you can then select the 'Relative Volume' study and hit 'Apply.' Relative Volume Indicator for TD Ameritrade Thinkorswim - Update 2.6 Easycators 7.6K subscribers Subscribe 24K views 3 years ago Get it here! 30 Exchanges are a lot. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Do they need some more powerful functionality that the other versions don't have? If a stock in play has a a fundamental change, particularly to the downside, knowing that many big players may need to puke up the stock can be very helpful. Enter in any ticker ID's from charts you wish to scan in the settings. The way you can't plot with "aspercent" or even with "+ "%"" without getting the dreaded "Expected Double" BS. You have to compare apples to apples. Clients must consider all relevant risk factors, including their own personal financial situation, before trading. This is the built in code of TOS for RelativeVolumeStDev. If the indicator spike (i.e., indicator is above 2.0 or a custom value) corresponds to a price bar overlapping the previous one, the previous close can be used as the DPL value. This is something Finviz always had. Thank you. TD Ameritrade does not make recommendations or determine the suitability of any security, strategy or course of action for you through your use of our trading tools. Conversely, relative volume depressed values happen when today's volume is subdued compared to recent activity. If those don't suit, try this: btw, I can't help with color on this one. Description. Relative volume becomes even more valuable when analyzed in conjunction with. Press J to jump to the feed. What Is Relative Volume? RVOL is calculated by dividing the security's current volume by its 10-day average volume. __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"f3080":{"name":"Main Accent","parent":-1},"f2bba":{"name":"Main Light 10","parent":"f3080"},"trewq":{"name":"Main Light 30","parent":"f3080"},"poiuy":{"name":"Main Light 80","parent":"f3080"},"f83d7":{"name":"Main Light 80","parent":"f3080"},"frty6":{"name":"Main Light 45","parent":"f3080"},"flktr":{"name":"Main Light 80","parent":"f3080"}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"f3080":{"val":"var(--tcb-skin-color-0)"},"f2bba":{"val":"rgba(0,32,240,0.5) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"trewq":{"val":"rgba(0,32,240,0.7) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"poiuy":{"val":"rgba(0,32,240,0.35) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"f83d7":{"val":"rgba(0,32,240,0.4) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"frty6":{"val":"rgba(0,32,240,0.2) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}},"flktr":{"val":"rgba(0,32,240,0.8) ","hsl_parent_dependency":{"h":232,"l":0.47,"s":1.98}}},"gradients":[]},"original":{"colors":{"f3080":{"val":"rgb(23, 23, 22)","hsl":{"h":60,"s":0.02,"l":0.09}},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.5}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.7}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.35}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.4}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.2}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.8}}},"gradients":[]}}]}__CONFIG_colors_palette__, {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}, __CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"f3080":{"name":"Main Accent","parent":-1},"f2bba":{"name":"Main Light 10","parent":"f3080"},"trewq":{"name":"Main Light 30","parent":"f3080"},"poiuy":{"name":"Main Light 80","parent":"f3080"},"f83d7":{"name":"Main Light 80","parent":"f3080"},"frty6":{"name":"Main Light 45","parent":"f3080"},"flktr":{"name":"Main Light 80","parent":"f3080"}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"f3080":{"val":"rgba(23, 23, 22, 0.7)"},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"l":0.09,"s":0.02}}},"gradients":[]},"original":{"colors":{"f3080":{"val":"rgb(23, 23, 22)","hsl":{"h":60,"s":0.02,"l":0.09}},"f2bba":{"val":"rgba(23, 23, 22, 0.5)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.5}},"trewq":{"val":"rgba(23, 23, 22, 0.7)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.7}},"poiuy":{"val":"rgba(23, 23, 22, 0.35)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.35}},"f83d7":{"val":"rgba(23, 23, 22, 0.4)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.4}},"frty6":{"val":"rgba(23, 23, 22, 0.2)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.2}},"flktr":{"val":"rgba(23, 23, 22, 0.8)","hsl_parent_dependency":{"h":60,"s":0.02,"l":0.09,"a":0.8}}},"gradients":[]}}]}__CONFIG_colors_palette__, A Guide to Relative Volume/RVOL Indicator on Thinkorswim, a Relative Volume/RVOL indicator on Thinkorswim. RVOL stands for Relative Volume, and it measures the number of shares that are traded in a given period of time. Relative volume, or RVOL, is a technical analysis indicator that measures the magnitude of recent volume changes in relation to historical volume.This will give you a percentage that can be used as an indicator to help you make informed day trading decisions. Professional access differs and subscription fees may apply. You must log in or register to reply here. Includes the following exchanges: Press question mark to learn the rest of the keyboard shortcuts. Market volatility, volume and system availability may delay account access and trade executions. I feel like if you have entire communities of online users discussing a ton of workarounds, just to get this info, it's pretty clear you should just add this in as a field. This blog post will explain what relative volume is and how you can use it to improve your trading performance. Relative Volume or RVOL is an indicator used to help determine the amount of volume change over a given period of time. Relative Volume Indicator for ThinkOrSwim $ 249.99 $ 199.99 For many of you subscribe to the classical trading philosophies of legendary traders like Jesse Livermore and Richard Wyckoff, there is probably no need for me to further emphasize the importance of volume here. TOS has an RVOL, I use it on my watchlist, its under RelativeVolumeStDev. *Disclaimer* 3. Hi, I would like to ask if there is any study for relative volume on intraday time frames, actual volume done by that time of the day compared to average volume done by that time of day? If the indicator spike corresponds to a price bar of a large size, use its close price as the DPL value. If you are new, or just looking for guidance, here are some helpful links to get you started. I know you have short squeeze scanners, but I just want to know the SF% on stocks I might trade without having to look it up on finviz all the time or do some of the other crazy workarounds that other traders are doing online. Thank you BenTen. At the time of writing on July 19th 2022 there are 7 reviews with 6 of them being 5 stars and make it sound like the tool will change your life. Thanks in advance! If you do find one, I would need assistance installing it/setting it up as a watchlist as well. I know that I am highlighting somethings that would be really nice to add, but I don't want all the hard work your team and your developers do to get lost in the below request. After you've selected 'Edit Studies,' a new window will pop up on your screen. For example, if a stock has a high RVOL, there might be a heightened interest in the stock now or because the stock price is rapidly changing. It is often used to help traders determine how in-play a ticker is. For example, if a stock has a high relative volume, it may be because there is more interest in the stock, or because the price of the stock is changing rapidly. Example volume RSI or Volume or Customize indicator on top instead of lower. Of course, it is also important to consider other factors, such as recent news events or EPS results, fund ownership, or other factors. When swing trading, many traders look for a relative volume of at least 2.5 to 1. RVOL is calculated by dividing the security's current volume by its 10-day average volume. It can take a while to load. I'd rather put a chart there instead. It calculates relative volume (RVOL) based on the average volume by time of day (rather than a simple moving average). Your software has been absolutely amazing over the years, and I know that myself and many other traders may have never been able to get so far without software like yours making seeing the markets much easier. It is critical to experiment with various settings to determine what works best for you. Unlike many conventional support and resistance indicators, the Relative Volume StDev takes into account price-volume behavior in order to detect the supply and demand pools. BITTREX:BTCUSD THINKORSWIM INDICATORS All indicators for thinkorswim are one time fee indicators.The indicators we offer and those that will soon be available are: Note: Thess Indicators are for entertainment purposes only and are not a recommendation to buy or sell a security Our indicators are: RVOL-RELATIVE VOLUMEThis epic tool is our newest indicator and aims to 6.5K views 9 months ago Technical Indicators Relative Volume, often called RVOL, is an indicator that compares current trading volume to average volume over a given period. hbspt.cta._relativeUrls=true;hbspt.cta.load(20705417, 'e60fb8cd-dd93-4a53-a104-2181af862fbc', {"useNewLoader":"true","region":"na1"}); A breakout of a range presents an opportunity to get long or short. Because of that, I've continually tweaked it, improved it, added new features, and made it more efficient.So I thought it was about time to do a new video walking through all the features and functions of the indicator so that traders can see all the powerful functionality that I've built into it, that allow endless possibilities for customization and exploration of potential trading edges.There is SO MUCH potential here from what I've seen, that I simply don't have the time in my own life to explore every type of volume signal that can be found and traded using this indicator. Go to desired timeframe. Similarly, RVOL is often used to determine what stocks are in play for day traders. Relative Volume indicator that pulls data from 9 different Ethereum exchanges. FTX:BTCUSD https://usethinkscript.com/threads/tor-watchlist-for-thinkorswim.1014/#post-8511, https://usethinkscript.com/threads/looking-for-relative-volume-for-a-watchlist-column.254/, Further modify relative volume indicator to segment the volume bars with horizontal lines that show the size of the trades in T&S, https://usethinkscript.com/threads/repainting-trend-reversal-for-thinkorswim.183/, https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/, https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/. Includes the following exchanges: No other finance app is more loved, Custom scripts and ideas shared by our users, Relative Volume (rVol), Better Volume, Average Volume Comparison, Relative Strength of Volume Indicators by DGT, Multi-Exchange Volume (30 Tickers) by kurtsmock + BV + rVol, Relative Volume Combined With a Cumulative Function. Relative volume can also be affected by events such as earnings announcements or analyst upgrades/downgrades. For a better experience, please enable JavaScript in your browser before proceeding. It may not display this or other websites correctly. Please read theRisk Disclosure Statementprior to trading futures products. If you chose to share it freely. This tells traders about the movement potential / or movement profile. But if you're looking for stocks with the potential for strong price movement, paying attention to relative volume can be a valuable tool, especially if trying to time breakouts. Relative Volume Indicator For ThinkorSwim ankbhard Jun 19, 2019 1 2 Next A ankbhard New member Jun 19, 2019 #1 Hello, Just wondering if anyone knows if TOS has a Relative Volume Indicator.? The forum users on usethinkscript came together to create this code. When you're trying to find the relative volume in thinkorswim, there are a few different steps that you'll need to follow. I've found an edge using shares/trade/range setting, and I like that and talk about it every day in my recap videos. For example, using this indicator you can see today's volume during the first 5-minute candle of the market open compared to the previous day's volume at the market open. Create an account to follow your favorite communities and start taking part in conversations. Relative Volume (RVOL): How To Use It For Day Trading, How to Trade The Head and Shoulders Strategy, Relative Volume Indicator for TD Ameritrade Thinkorswim - Update 2.6. . So 400% RVol means, today's volume is 4x compared to avg volume for the length you selected. RVOL / Relative Volume - I found a way to jam this in via ThinkScript, but this really should be a standard feature. 1. Get it here!https://easycators.com/relvolThe Thinkorswim Relative Volume chart indicator is the most important indicator that I use, and it's the one indicator I've created that I'm the most proud of.Over the years since I originally released RelVol, my own trading strategy has shifted, and so has my use of the indicator. https://usethinkscript.com/threads/ator-watchlist-for-thinkorswim.1014/post-8511, https://usethinkscript.com/threads/gy-and-momentum-scanner-for-thinkorswim.3002/, https://www.smbtraining.com/blog/relative-volume-rvol-defined-and-how-we-use-it, https://usethinkscript.com/threads/unusual-volume-scanner-for-thinkorswim.247/#post-1477, Unusual Volume Moving Average Scan & Watchlist, scan for stocks with unusual buying volume, Unusual Volume Scan within last 10 bars rather than just current bar, Unusual Option Activity Scanner for ThinkorSwim, https://usethinkscript.com/threads/repainting-trend-reversal-for-thinkorswim.183/, https://usethinkscript.com/threads/buy-the-dip-indicator-for-thinkorswim.3553/, https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/. Nothing contained herein is intended as investment advice. The first is RelativeVolumeStDev and the input parameters and plots are given so you can try it out yourself. And most importantly, stay calm and don't let emotions get the best of you. A good sign is that they have updated the indicator since launching itand it has a "Last Gap Up Rvol" feature so that you can see what the volume was on the last gap up day compared to todays gap up at the current time. Defines whether or not to display negative values of the indicator. At the time of writing this article on July 19th 2022 there is a job opening on Upwork looking for someone to code a RVOL indicator on Thinkorswim. This just means that they will have the ability to get in and out of a trade with ease if using large size/shares. Our forum can be intimidating, if not overwhelming. This will then be displayed as a ratio so we can quickly see how active a stock is trading today in comparison to its average. How can I take that code and create a watchlist for RVOL? You can use relative volume to your advantage and make better stock trading selections with practice. Relative volume is calculated bydividing the security's current volume by its 10-day average. The RVOL is easily visible as a background color, that changes between Low and High RVOL colors. You can fully customize this indicator to your liking. This is another indicator that there are forum posts after forum posts and communities that have had to work together to figure out a workaround. -- IMPORTANT NOTE: -- As the stock rocketed on the news of a potential vaccine for monkey pox, shares of the company exceeded recent trading activity averages. When it comes to stocks, there is no such thing as an "average" volume. I'll go to IB. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union. On behalf of the internet: Do it for the fucking children. You could try to build what you are looking for using this as a template: Join 2,500+ subscribers inside the useThinkScript VIP Membership Club, VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. The ThinkOrSwim team seems to really care about what they do and I guess I'm just hoping that if this got enough attention, that it would appeal to their better nature. Please note that this indicator only works with ETH and will not use data from your current chart. The Woodies Pivots study calculates pivot, support, and resistance plots based on Ken Woods Characteristics and Risks of Standardized Options, Trading Forex: What Investors Need to Know. But there are hundreds of other combinations of modes and volume source calculations that this indicator supports as well, that I haven't even scratched the surface of.I've recently added Open Interest and Implied Volatility as potential volume sources, in addition to the normal share volume, trade or tick count volume, and range comparison.Whatever your trading style or timeframe, this indicator can be seamlessly added to your chart layout, and best of all it doesn't have to take up any extra screen real estate!Whether you trade stocks, futures, forex, or even cryptocurrencies like Bitcoin, this indicator can give you valuable information about the volume flow that you wouldn't have been able to effectively see before.#########Get it here!https://easycators.com/relvol#########Related terms: relative volume and volume price analysis, volume, technical analysis, ticks, trade count, trade volume, share volume, contract volume, session volume, order flow, tape reading, volume signals, volume confirmation, volume strength, how to read volume, price action setups, stock market, stocks, futures, options, and forex are all terms that are related to Thinkorswim relative volume indicators.SUBSCRIBE! https://easycators.com https://youtube.com/easycators?sub_confirmation=1 https://facebook.com/easycators https://twitter.com/easycatorsDISCLAIMER: WE ARE NOT CERTIFIED FINANCIAL ADVISORS AND NOTHING ON THIS VIDEO OR PAGE OR CHANNEL IS AN ADVERTISEMENT OR RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, AND NEITHER ARE ANY OF THE PRODUCTS OR CONTENTS OF THIS CHANNEL OR VIDEO OR PAGE OR SITE INTENDED TO INSTRUCT YOU ON HOW TO MAKE TRADING OR INVESTING DECISIONS. useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. You must log in or register to reply here. The RVI can be used as a confirming indicator since it uses a measurement other than price as a means to interpret market strength. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. The ratio of those ten days would be equal to 1.0. Hello traders! I have other query: Is it possible to show the indicator top of the chart instead of lower. In order to use RVOL effectively, you need to be aware of the different ways that it can be displayed. I need something like what's posted in the attached image. Relative volume is one of the most important indicators for day traders. Conversely, if a stock has a low RVOL, it can be because there is not much interest in the stock, or the price is stable. The metric volume reflects the number of shares traded of a specific stock. A stock with a high relative volume is more likely to be bought and sold than a stock with a low relative volume. In trading, some say that "the volume precedes the movement". It's it trading less than 5 figures no one will probably ever want to trade it anyways. Make sure you test your buying and selling strategies before you risk any money based on RVOL. Sizzle Index is for options, Stock Sizzle is for stock. If stock doesn't have a high RVOL, it is more than likely less liquid and therefore out of play for any momentum trading strategies. Go to thinkorswim r/thinkorswim . RVOL one of those basic, but very important, indicators that help short term traders know if a stock is "In Play". RVOL Indicator ThinkScript help Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members Genuine reviews from real traders, not fake reviews from stealth vendors Quality education from leading professional traders We are a friendly, helpful, and positive community POLONIEX:ETHUSDT, Relative Volume indicator that pulls data from 9 different Bitcoin exchanges. Small gaps can be ignored: the author suggests using the previous close as the DPL value. If you can pleas post screenshot. The information and/or products contained on this video, page, channel, or website are provided 'as is' without warranty and are provided solely for entertainment purposes. But, as one of the lucky few winners of TradingClue 2. 1. We first introduced our ThinkOrSwim volume data Thinkscript back in March of 2019, and since then it has seen over 10,000 downloads from active traders. It is a technical indicator that measures the average volume of a security over a specific period. Better Volume Indicators for Thinkorswim By Pat / August 25, 2021 The default chart settings for Thinkorswim leave much to be desired when it comes to volume. As a result, these events and new releases can impact the relative volume. I've been scouring the internet for an RVOL (Relative Volume) indicator for Thinkorswim but can't find a free one.

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