Relative Volume Screener Alerts

The Relative Volume Screener Alerts indicator scans multiple tickers simultaneously to identify specific relative volume breakout points, providing real-time alerts for potential market entries.

Usage

The script allows users to monitor up to 12 custom tickers plus the current chart symbol. To use the tool, input your desired ticker symbols in the settings and navigate to your preferred timeframe. By setting up a single alert on the indicator, the script will monitor all listed assets and trigger a notification whenever a relative volume entry condition is met on the selected interval.

Common use cases include:

• Scanning a watchlist of stocks or crypto pairs for sudden volume surges.
• Identifying trend breakouts confirmed by Least Squares Moving Average (LSMA) volume crossovers.
• Automating multi-symbol monitoring without needing dozens of open charts.

Details

The script evaluates relative volume by calculating the Least Squares Moving Average (LSMA) of the volume data. An entry point is identified when the LSMA of the volume crosses above the zero line, signaling a significant shift in trading activity relative to the specified period. The screener uses request.security to fetch data for external symbols and checks for three potential breakout conditions: a primary LSMA length (default 50) and two optional shorter-term LSMA lengths (6 and 21). When a crossover occurs on any of the monitored symbols, an alert is triggered containing the ticker name and the timeframe.

Settings

LSMA Settings

• LSMA Breakout length: Determines the period used for the main linear regression (LSMA) calculation on volume.
• Find LSMA 6 entry points?: Toggle to include crossovers of a 6-period LSMA of volume as a trigger.
• Find LSMA 21 entry points?: Toggle to include crossovers of a 21-period LSMA of volume as a trigger.

Volume Entry Point Screener

• Ticker 1 - 12: Input fields to define the specific symbols you wish to screen alongside the current chart.

FAQ

How do I set up alerts for multiple timeframes?

To screen multiple timeframes, you must create a separate alert for each specific timeframe you wish to monitor (e.g., one alert while on the 1h chart and another while on the 4h chart).

Can I change the symbols being screened?

Yes, you can modify the ticker IDs in the "Volume Entry Point Screener" section of the indicator settings at any time.

How do I access Relative Volume Screener Alerts?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.