Volume Z-Score (20-bar)Volume

Timeframe M1 · unit sigma

What it measures

Measures how many standard deviations the current bar's volume is above or below the 20-bar mean volume. It normalizes volume so that 'high' and 'low' are defined relative to the bar's own recent history, not an absolute threshold.

How Janira reads it (bullish vs bearish)

A z-score of +2 means volume is two standard deviations above the recent average - unusually active. A score near zero means volume is normal. A negative score means below-average participation. Values above ±2 are relatively rare.

In plain language

This tells you whether right now is a busy or quiet time compared to the recent norm. A score of +2 means 'much busier than usual'; a score of -1 means 'somewhat quieter'. It's like comparing today's restaurant crowd to the average for that time of day.

Scenarios

• Z-score above +2: volume is unusually elevated; the current bar is a significant participation event relative to recent activity.
• Z-score between +1 and +2: volume is moderately elevated, consistent with a developing trend or reaction.
• Z-score near zero: participation is in line with recent norms; no volumetric signal.
• Z-score negative (below -1): below-average volume; moves on such bars may lack conviction and be more prone to reversal.

More volume indicators

Janira computes Volume Z-Score (20-bar) deterministically from live price action, the same way for every reading - no discretion, no hidden weighting. This page explains the method; it is not a live reading and not advice.