Glossary · R
What is Relative volume?
Volume compared with the typical volume at the same time of day on previous days. Gold's volume has a strong daily pattern, so raw volume comparisons across hours are misleading.
In context
A volume filter marks bars whose relative volume exceeds a chosen threshold, for example "more than twice normal for this hour". Treat such marks as an attention highlight: "something unusual happened here in terms of activity." They are not buy or sell signals. As you will see later in this chapter, high volume has no direction.
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