RVOL Watchlist

RVOL Watchlist — Intraday Relative Volume & VAH Context Scanner

Use this along with "RVOL Intraday Truth" indicator by Preps_Ver for better results on trade execution.

Overview:
RVOL Watchlist is an intraday watchlist-style monitoring tool that tracks Relative Volume (RVOL) across multiple symbols and enriches it with session Value Area context.
The script is designed to help traders quickly identify symbols showing abnormal participation near value, without generating trade signals or execution logic.

What Problem This Solves (Originality & Usefulness):
Scanning Relative Volume one symbol at a time is inefficient during fast intraday conditions.
This script solves that by:
Aggregating RVOL into a single on-chart table
Adding session Value Area High (VAH) context
Highlighting symbols where volume expansion aligns with acceptance above value
The script is intentionally non-opinionated and non-executable — it highlights where to look, not what to trade.

How It Works (Conceptual Explanation):

Relative Volume (RVOL):
RVOL compares the current session’s cumulative volume
Against the average cumulative volume of the last N trading days
Volume automatically resets at the start of each session
Calculations are replay-safe and session-aware
This ensures RVOL reflects true intraday participation, not raw volume spikes.

Session Value Area (VAH):
For each symbol, the script computes an intraday session Volume Profile:
Volume is binned by price using a configurable bin size
A Point of Control (POC) is identified as the highest-volume price level
The Value Area is built by expanding outward from the POC
Expansion continues until the configured Value Area % (default 70%) is reached
The upper boundary of this range is marked as VAH
This provides a contextual reference, showing whether price is trading above, inside, or below session value.

SS: Strong Start: RVOL + VAH Context
Symbols are visually highlighted when:
RVOL exceeds a user-defined threshold, and
Price shows acceptance relative to session VAH
This combination helps distinguish meaningful participation from random volume bursts.


Watchlist Table Behavior:
The table updates dynamically during the session
Each row represents a tracked symbol
Columns focus on RVOL and value context only
Color highlighting draws attention to abnormal participation
The table is meant for fast visual scanning, not signal generation.


Timeframe Behavior:
Intraday Charts:
Full RVOL and session VAH logic is active
Calculations reset on each new trading day

Daily / Higher Timeframes:
RVOL is derived from daily average volume
Session-specific VAH logic is inactive

How to Use:
Apply on intraday charts (1–15 min recommended)
Monitor the table for RVOL expansion near or above value
Use highlighted symbols as candidates for deeper analysis
Best suited for liquid stocks

Limitations:
Volume profile is bar-based, not tick-based
VAH accuracy depends on bar resolution
Illiquid symbols may show distorted volume distribution
Current session values evolve until market close