FoundryFutures Relative Volume

Foundry Relative Volume
Overview
A comprehensive volume analysis indicator that compares current volume to historical averages across customizable timeframes. Helps identify unusual volume activity and potential market momentum shifts.

Key Features
📊 Volume Analysis
Relative Volume Calculation: Compares current volume to historical averages
Cumulative & Regular Modes: Choose between running totals or individual bar volume
Custom Timeframes: Set volume period resets (daily, weekly, etc.)
Historical Comparison: Uses configurable lookback periods (1-100 periods)

�� Visual Indicators
Color-Coded Volume Bars:
Gray: Historical average volume
Blue: Bullish volume (close ≥ open)
Red: Bearish volume (close < open)
Yellow: High volume (above multiplier threshold)
Background Coloring: Visual indication of relative volume strength
Optional Relative Value Line: Shows volume ratio as continuous line
Real-Time Information Table: Displays current statistics
⚙️ Customization Options
Volume Settings: Timeframe, periods, calculation mode
Visual Settings: Colors, thresholds, display toggles
Alert Settings: High volume notifications with custom thresholds
🔔 Alert System
Configurable volume thresholds (1.0x to 10.0x average)
Real-time notifications for unusual volume activity
Customizable alert messages

Usage Guidelines
Setup
Add indicator to chart
Configure volume period timeframe (default: Daily)
Set number of periods to average (default: 10)
Choose calculation mode (Cumulative/Regular)

Interpretation
High Volume Bars: Indicate increased market interest
Above Average Volume: Suggests potential trend continuation
Below Average Volume: May indicate consolidation or weak momentum
Color Patterns: Help identify bullish vs bearish volume pressure
Best Practices
Use with multiple timeframes for confirmation
Combine with price action analysis
Monitor volume patterns during key support/resistance levels
Set alerts for significant volume spikes

Input Parameters
Volume Settings
Volume Period Timeframe: Reset period for volume calculations
Volume Periods to Average: Number of historical periods to compare
Calculation Mode: Cumulative running total or individual bar volume

Visual Settings
Relative Volume Multiplier: Threshold for high volume highlighting (1.618x default)
Show Background Color: Toggle background volume indication
Show Volume Bars: Display volume bar chart
Show Relative Value Line: Display volume ratio line
Color Customization: All volume and background colors
Alert Settings
Enable Alerts: Toggle alert system
Alert on High Volume: Volume spike notifications
Alert Threshold: Custom volume multiplier for alerts

Technical Notes
Compatible with all TradingView timeframes
Optimized for real-time and historical analysis
Memory efficient for extended chart periods
Supports both overlay and separate pane display
Risk Disclaimer

⚠️ RISK WARNING:
This indicator is for educational and informational purposes only. Past performance does not guarantee future results. Volume analysis, like all technical indicators, should not be used as the sole basis for trading decisions. Always conduct thorough research, consider multiple factors, and consult with qualified financial advisors before making any investment decisions. Trading involves substantial risk of loss and may not be suitable for all investors. The creators of this indicator are not responsible for any financial losses incurred from its use. Use at your own risk and always practice proper risk management.