Relative Volume & Price Volume Trend
Awesome Volume+ 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. Generally, when the volume is higher than normal, something is happening with said equity. Whether that's selling or buying volume it shows importance. The higher the volume the higher the interest of traders in the equity, so 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 added divergences, but using divergences in PVT is another strong way to use it. PVT tends to mirror the market price movements; hence, confirm trends. You will find this indicator to be jam packed full of features.