Multi-Exchange Volume (30 Tickers) by kurtsmock + BV + rVol

2019年11月11日

author: kurtsmock
Fully Customizable ticker set. Up to 30 Tickers. Bitcoin set as default.

-- IMPORTANT NOTE: --
30 Exchanges are a lot. It can take a while to load. You can fully customize this indicator to your liking. Here's how:
1. Load indicator
2. Open Settings
3. Uncheck the switch box for exchanges you want unincluded
4. At the bottom of the settings menu click "Defaults" and hit "Save as Default"
5. To turn them all back on, hit "Reset Settings" in that same "Defaults" menu and click "Save as Default" again.

Also, you don't have to use this with Bitcoin. This works with any asset, just change the ticker in the settings.

There's a lot going on with this indicator so the following is descriptions and instructions to help you better understand what's going on here. Thanks!

Goal:
- To provide a mechanism for assets on multiple exchanges to have their volume evaluated together

Edge:
- Having better and more complete volume information

Notes:
- The Default Exchanges for this indicator are highest volume bitcoin exchanges, but may contain "fake volume"
- Indicator is set for Bitcoin by default. However, you can change the tickers to reflect any asset you want


////// rVol //////
Goal:
- To understand how much volume is being executed relative to the same candle on previous days/periods

Edge:
- Higher rVol implies higher volatility and market interest.
- High rVol = higher than average volume . Markets move on volume so higher than average volume indicates increased market activity/volatility
- rVol is an indirect measure of active or anticipated volatility

Definitions:
- rVol: The volume of a period compared to the Average Volume of that same period in past sessions [(Sum of lookback period volume at session intervals) / (number of intervals)]
- Important to note it does NOT add up the last 10 (default) candles, but rather the last 10 candles at session intervals.
- Example:
-- On a Tuesday, 1h chart it will add up the last ten Tuesday, 9:00 am candles, not including the current, active candle.
-- It then averages those lookback candles.
-- It then plots the percentage relationship between the most recent candle and the average of the lookback candles
-- Avg Vol of Lookback candles = 5000,
-- Volume of most recent candle = 4000: Output = rVol = 80:
-- Volume of most recent candle was 80% of the average volume in the 9 am time period of the last ten Tuesdays in the 9 am, 1h period

Notes:
- rVol does not add current candle volume into lookback sum. So, you set lookback to be: (not including the current day)
- rVol is on a switch. So, if you want to see rVol instead of volume, hit the switch in the settings
- If you want to see both, load 2 instances of the indicator.

////// Better-er Volume //////
Goal:
To Identify:
- When a candle closes at the highest volume * range relative to the lookback period and close > open
- When a candle closes at the highest volume * range relative to the lookback period and close < open
- When a candle closes at the highest volume / price relative to the lookback period

Edge:
- Identifies beginnings of price expansion, climax of price expansion, breakouts, pivots, and take profit points on the volume chart

Notes:
- Based generally on Barry Taylor's "Better Volume" indicator and ideas from Pascal Willain's book "Value in Time."
- Better-er Volume rules are applied to both Total Volume or rVol.
-- When rVol is displayed Better-er Volume is applied to rVol
-- When Total Volume is displayed Better-er Volume is applied to Total Volume


// Plot Key: //
Green Triangle Up = Often marks the beginning and/or end of price expansion to the upside
Red Triangle Up = Often marks the beginning and/or end of price expansion to the downside
Yellow Square = High Volume but Tight Range. Implies a Battle of Bulls and Bears. High Liquidity area. Provided Liquidity is not enough to move price. Thick Limit Order Book.
Purple Triangle Up or Down = [High Churn Rate (yellow) + High Volume (Red/Green)] Implies high market participation. Typically at the end of expansion when very significant s/r is hit

category: volume Volatility
tags: Volume rVol relativevolume Bitcoin cryptocurrency bettervolume

Many More Volume Indicators Coming Out Soon!

2022年5月28日

リリースノート

Overhaul of the script for v5. Dropped the total tickers to 20 because 30 is just unnecessary. Not enough volume on other exchanges to really make an impact.
You can choose which tickers you want to look at or if you want to look at fewer than 20.
You can choose Spot, Derivatives or combined. If you choose combined, you choose a benchmark price and whether to price in BTC or USD since perps/futures are priced in dollars and spot is priced in BTC.
I say BTC because that is what this is designed for but because you can choose tickers, you can actually combine any set of tickers you want. So that could be a group of equities, an alt... whatever.
rVol and Better-erVolume are both updated to the current framework I have. I am working on a better model for the loop rVol to be able to include a longer window than 8 intervals.
If not using Loop, you can delete the 'maxval' property out of the input and go back farther.
Just did it quick and dirty so let me know if you find any bugs.

2023年6月4日

リリースノート

Removed FTX since that's not a thing anymore. It is working again. Look at the volume on that last dip. Bottom?