Multi Exchange Relative Volume - FOREX

13 Jun 2022

Hello traders! This is my first script that I will publish here. This script calculates the relative volume based on the average volume at that time of the day across different brokers.

13 Jul 2022

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some small bug fixes

15 Sep 2022

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Bugs fixed for the smaller timeframes

15 Sep 2022

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Color update

15 Sep 2022

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Update visual example

15 Sep 2022

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Update visual example

15 Sep 2022

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Update visual example

17 Sep 2022

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Make the script available for non forex pairs as well

18 Sep 2022

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Small bug fix

22 Sep 2022

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The indicator is no longer seen as a separate screen but you can add the volume to the chart itself now. Just make sure that you set the bottom margin as 0 in Settings / Appearance

16 Okt 2022

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Relative Volume is one of the most important indicators and Traders should check it while trading/analyzing. it is used to identify whether the volume flows are increasing or decreasing. Relative volume measures current volume in relation to the "average" volume for this time of the day.
And this indicator does this over 5 different forex brokers.

The common definition for real-time relative volume is: Current volume for that volume bar / Average volume bar on that moment. It does mean taking the volume (for example) from 10:30 am to 10:45 am and comparing it to what it does from 10:30 am to 10:45 am every day.

26 Mei 2023

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Removed the Globalprime broker, and change it to Eightcap

25 Jun 2024

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I will no longer be developing this script further because I have released a new script where the exchanges are not fixed in a dropdown menu, making it suitable for use with cryptocurrencies as well. Consequently, I have decided to discontinue the development of this script.