Comparison Chart with Relative Volume Gradient Candles

25 May 2021

This indicator provides a way to use Relative Volume Gradient Paintbars on an alternate/comparison symbol while still looking at your main charted symbol. For instance, this allows you to plot the ES1! or SPY or QQQ above/below your charted symbol, and see its current Relative Volume signal, and compare that to the your currently-charted individual stock symbol, etc., and while keeping the candles from both symbols all lined up perfectly. It also provides 4 different custom MAs which can be applied to the comparison symbol.

The idea here is that you can potentially use my other indicator, Relative Volume Gradient Paintbars, on the primary symbol to evaluate that chart, while using this particular indicator to quickly analyze the same Relative Volume data on a comparison market symbol such as the SPY or QQQ without having to switch charted symbols. You can also quickly compare price action and location relative to familiar moving averages to quickly gauge relative strength of the stock vs. the market symbol.

8 Ağu

Sürüm Notları

Updated to Pine v6. Updated Relative Volume engine to match the one in the current standalone Relative Volume indicator. Rearranged settings for clarity and fixed minor bugs.