easy · Volume Spread Analysis effort-vs-result-spread

How is 'Relative Volume' calculated in standard practitioner analysis for a daily price bar?

  1. The current volume divided by the price spread
  2. The total volume traded since the market open
  3. The current bar's volume compared to the average of the prior 20 bars
  4. The volume of the stock divided by the volume of the S&P 500

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