Awesome Volume+

Relative Volume and Price Volume Trend indicator that will help traders assess current price action based on its volume and trend.

Awesome Volume+

This is a Relative Volume and Price Volume Trend indicator that will help traders assess current price action based on its volume and trend.

Volume is one of the most important aspects of trading that is often overlooked by new traders. When the volume of an asset (stock) is higher than normal, it's a sign, something is happening with said asset; whether it's selling or buying volume, it’s relevant and begs a further look.
Basic supply and demand psychology tells us, the higher the volume, the higher the interest of traders in the equity; thus, a sudden increase in volume relative to its average volume (Relative Volume) can cause an increased probability that the price will move.

Relative volume is very self-explanatory, it’s the volume relative to its average. In this indicator, I use several different average calculations to give the trader a clear picture of where the volume stands and added a few different trends using these averages. One is a modified Price Volume Trend .

PVT or Price Volume Trend is a momentum-based indicator that measures money flow in relation to volume. It is usually used to confirm trends, but can be used as a trading signal; as I’ve created some in here. I didn’t add divergences, but using divergences in PVT is another powerful way to use it. PVT mirrors the market price movements; hence, confirm trends.

You will find this indicator to be jam-packed full of features.

-Fully customizable: colors, shapes, lines, on/off toggles for everything.

-Includes:
---Relative Volume Wave.
---Shadow Waves that can help with trend confirmation.
---Vibrant Relative Price Spike is in the forefront.
---Additional Volume Trend on bottom of volume bars
---Stat box: showing the Current, Average, and Relative volume on the current user selected timeframe.
---Signals.
---Alerts: pre-filled.
---Added ability to add to main chart with instructions.

**Don't forget to use the PVT and Volume Trend as a guide for where the chart may lead. Along with other indicators. Also, note PVT divergences; this will probably be my next addition.**